Banks collectively have assigned over 1,000 in-house IT staff to fixing the problem, although this includes staff doing concurrent redevelopment work. There has been speculation about serious shortages of experienced staff, but nearly half of the banks in our survey did not plan to hire additional people for their projects, and only four expect to increase staffing by more than 10 per cent.
Staff resources do not, therefore, appear to be a major issue in Australia, but there is no room for complacency because shortages could well be a bigger problem in other countries and we are part of a global labour market. Furthermore, the resources required for testing could be under-estimated.