Digital is fundamentally changing the way banks and insurers operate—from how they interact with customers, regulators, partners and suppliers, to how they manage their employees. New digital technologies enable not only greater integration and flexibility than ever before, but also the ability for employees to have a greater share of voice and ability to participate in defining and even creating their own work experiences.
Digital is thus poised to radically disrupt HR as usual and redefine the future of the human resources function in the next decade. Eventually, HR and talent processes and the technology that enables them will no longer constitute their own domain or even be primarily performed by a central HR function.
Rather, many aspects of HR and talent management will become fully embedded in how work gets done throughout an organization, thereby becoming an everyday part of doing business. HR departments that ignore this transformation could face obsolescence.