Harnessing the potential of digital technologies to achieve decent work in the financial sector: Policies and practices on the impact of digitalization in the sector

The ILO report Policies and Practices in the Financial Sector that Address the Impact of Digitalization and Harness the Potential of Digital Technologies to Achieve Decent Work provides a global overview of policies, initiatives and practices regarding decent work as well as employee outcomes in the global financial sector. The report presents findings from a literature review, surveys, and in-depth interviews in three regions: Asia and the Pacific, Africa and Latin America.

It presents an overview of the impact digitalization has had and will likely have on the financial sector workforce in terms of employability, diversity and inclusion, conditions of work, occupational safety and health, sustainability and data protection. It does so by taking the principles of decent work laid out by ILO – in particular employment creation, social protection, rights at work, and social dialogue – as the basis. The report looks at the nature of digitalization across business models, and the role of industry stakeholders, including financial institutions, employers’ organizations and trade unions, in ensuring a positive and sustainable impact on the workforce.
It concludes with a call for action for all stakeholders to invest in training, diversity and well-being policies for employees in the financial sector, with a view to building a more diverse, sustainable and gender-equal world of work.