Behavioural finance skills gap report

Assessment: scenario versus theory

Demand for robust, applied skill assessment is growing as employers shift from generic tests to scenario-driven evaluation.

Scenario-based assessment is replacing traditional testing for bias diagnosis in hiring and upskilling. Employers value real-world challenges and data-driven simulations for validating bias awareness.

• 69% Employers preferring scenario-based exams
• 58% Firms using simulations in hiring or training
• 14% Traditional test preference

Traditional testing fails to uncover hidden cognitive errors. Employers now prioritise scenario-based assessment and real-world simulations to verify skills, signalling a shift in hiring and upskilling strategies.

Urgency of bias-aware upskilling

A clear cause-and-effect chain: failure to upskill increases risk, while investment in bias training improves retention and performance.

Continuous upskilling is now considered critical by the majority of finance employers. Bias-aware skills are no longer optional but essential for organisational competitiveness and resilience.

• 72% Employers rating upskilling as urgent
• 64% Firms with annual bias training budget
• 57% Employers seeing improved retention after upskilling

Upskilling is now a priority for talent retention and risk management. Leading employers invest in continuous learning and scenario-based training to close the gap and protect organisational outcomes.

Closing the education gap in bias awareness

Limits of current training approaches

Employers identify peer review, current case material, and expert feedback as the critical missing elements in existing training solutions.

The education gap in bias awareness persists due to lack of peer review, outdated materials, and insufficient expert guidance. Employers seek more holistic, interactive solutions to close this gap.

• 54% Employers citing lack of peer review
• 47% Firms noting outdated training material
• 38% Organisations lacking faculty support

Addressing the education gap requires more than technical training. The solution lies in combining real-world scenarios, peer review, and targeted faculty support to embed skills and ensure lasting behavioural change.