Q: Is data aggregation suitable for detailed financial analysis?

A: Data aggregation is best for high-level overviews. For detailed analysis, data integration provides more comprehensive insights.

Q: Can data integration assist in regulatory compliance?

A: Yes, it ensures accuracy and consistency of financial data, which is crucial for compliance.

Q: How do these processes impact financial forecasting?

A: Data aggregation quickly identifies trends for forecasting, while data integration offers a detailed foundation for precise predictive analysis.

Blog Article

The Impact of The Great Resignation on Finance and IT Sectors

In our previous blog, we explored the widespread impact of The Great Resignation across various sectors, highlighting how shifts in employee expectations are reshaping the workforce. As we delve deeper into this phenomenon, this second entry focuses on the finance and IT sectors—areas particularly vulnerable to these shifts. Here, we examine the unique challenges these sectors face and how businesses are adapting to maintain stability and growth in a transformed labor market.

High-Stakes Environments

Finance and IT are integral to the operational backbone of any major business, often operating under tight deadlines and high pressure. These conditions, while already challenging, have been exacerbated by the increased expectations and job mobility triggered by The Great Resignation. Employees in these sectors are increasingly vocal about their need for better compensation, work-life balance, and job satisfaction.

Retention Struggles

In these high-stakes environments, retaining top talent has become more challenging than ever. The finance sector, in particular, is grappling with the dual challenge of an aging workforce and a dearth of incoming talent interested in pursuing long-term careers in traditional financial roles. Similarly, IT departments are struggling to keep up with the rapid pace of technological change and the growing preference among professionals for more flexible, project-based work.

Attracting New Talent

Attracting new talent is another significant hurdle. Both sectors require a high level of skill and continuous learning, making it essential to not only attract but also invest in the development of new hires. However, with fewer individuals entering these fields due to perceived barriers and alternative career options that offer greater flexibility, companies must rethink their strategies to appeal to a new generation of workers. Organizations using solutions like GLConnect to create transparent workflows and efficient reporting processes are more likely to appeal to the next generation of finance and IT talent.

Strategic Adaptations

To address these issues, companies in finance and IT are increasingly turning to flexible work arrangements, enhanced benefits, and a stronger emphasis on employee wellness and development. These adaptations are not just about retaining current employees but are crucial in making these sectors more attractive to potential hires.Understanding and addressing the unique challenges faced by the finance and IT sectors is essential for any business looking to navigate The Great Resignation successfully. Employers must adapt to these changes by leveraging innovative strategies to enhance workplace satisfaction and attract skilled workers.At SplashBI, we empower organizations to overcome these sector-specific challenges through our comprehensive reporting and analytics tools, helping businesses gain the insights needed to make informed strategic decisions. Stay tuned for our next blog, where we will explore how self-service reporting tools are empowering employees across various industries, fostering greater engagement and satisfaction.