In our latest installment ofSS&C Dialogues, we sat down with industry experts to explore the 2022 outlook in banking, financial services and insurance, based on the event of Q1.
One of the major influences on the industry outlook continues to be the adjustment to the New Normal in the wake of the COVID-19 pandemic. Many people have changed jobs, moved to new industries, or even moved to countries. Some people have returned to the office, while others have decided never to return to the office again. As employees search for the right opportunities to meet their goals, many are considering the flexibility offered by work-from-home models that became widespread in 2020, as well as broader concerns like climate change and societal inequalities.
The response to these changes has reshaped businesses in general. With a wider generational gap in the office than has been seen in recent years, some businesses are creating more opportunities for mentoring and coaching to help the younger employees develop themselves, as well as efforts to increase diversity and make more environmentally sustainable decisions. However, the travel restrictions to curtail the spread of COVID-19 have made it more difficult to recruit talent between countries.
Meanwhile, the ongoing crisis in Ukraine is influencing the 2022 outlook as well. One example of how the crisis affects our industry relates to energy. With the current sanctions on Russian gas and oil, many countries are looking for new sources of energy. This creates an opportunity for investing in alternative energy sources, including renewable and other green options.