It goes without saying that 2023 has been challenging for businesses and their customers alike. The consumer tendency to over-stretch finances during the Christmas and winter holiday season is not new.

Yet, at the end of the 12 months of a demanding period with a cost-of-living crisis and frequent market volatility, firms are expecting a spike in demand for their collection and recovery, complaints management and fraud teams linked to seasonal consumer spending in the early months of 2024.

Are you ready for it?

January is already shaping up to be a busy time for financial services as businesses round off their existing projects and set their sights on new endeavours.

The Holiday period – already infamously costly, and made even more expensive by the increasing price of energy, food and everyday essentials – will inevitably result in many financial providers having to expand their call handling capacity to assist with a rise in customers seeking financial assistance. We anticipate skilled professionals such as complaints handlers, file reviewers and fraud investigators will face a significant surge in demand.

It’s no surprise, then, that the Resourcing and Recruitment market expects to face a resource squeeze early in the new year.

Scale up your temporary resources early

Heads of Operations and Call Centres can expect greater demand on their teams – creating a seasonal resource gap that needs to be addressed swiftly, as a priority, to prevent customer frustration and complaints, and potential regulatory issues. Targeted skills outsourcing is the answer to successfully filling the gap with trusted, capable, experienced professionals who are ready to hit the ground running at short notice.

And with the FCA now embracing a more interventionist, ‘assertive supervision’ model of regulation, it’s clear that having access to the right qualified, experienced resource has never been more important for business continuity.

Priorities for 2024: plan for the regulatory challenges

As the end of the calendar year is fast approaching, many firms are using the final weeks to reflect on their priorities for 2024 and plan for their regulatory challenges.

And with more customers now feeling the strain on their wallets than ever before, 2024 looks set to hold similar obstacles in store for regulated businesses to 2023 – with mortgage rates, pensions advice and consumer safeguarding all set for increased supervision as financial resilience becomes a tangible concern for many ordinary families.

At the same time, the FCA is continuing its ambitious three-year Strategy to set higher standards for regulated firms, reduce harm to consumers and drive positive change within the industry, alongside the planned Consumer Duty rollout for closed products on 31st July.

Taken together, these factors mean now’s the time for firms to be asking themselves – how’s your to-do list for 2024 shaping up? Can you be sure you have access to the right people, with the right skills and experience, for a successful delivery?

TCC Specialist Resourcing: helping you get it right, the first time

At TCC, we know every project is different – that’s why for more than 20 years, we’ve prided ourselves on providing bespoke solutions that are tailored to your unique needs and specifications.

Whether you’re looking for extra pre-vetted pairs of hands to augment your existing team or have a large-scale project coming up that you’d rather outsource to the experts, we can make sure you’re equipped for whatever lies ahead.

Our dependable pool of more than 5,000 skilled contract associates spans the entire breadth of financial services specialisms, containing everything from complaint handlers and file reviewers to QA professionals and compliance experts. Put simply: whatever you need, we can match you with whoever you’re looking for to get the job done right.

Seasonal offer: Complimentary themed workshops tailored to your needs, led by our experts

For a limited time only, our Specialist Resourcing clients will be provided complimentary access to our dedicated and experienced regulatory subject matter experts via exclusive workshops. Here you have the opportunity to discuss two key regulatory topics or challenges of your choice in a face-to-face environment, at no extra cost.

We help you deliver outcomes that matter to you, your customers and the regulator.

Contact us to find out more!