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Predictions Rise For Hiring In Financial Services: Time To Focus Hard On Culture

Posted on January 25, 2016 at 12:05 AM

What do you think when you hear excitement on hiring in financial services ? I fear that I, for one, wonder if we have learnt anything at all from the financial crisis. Reminder: it was oficially in 2007-2008, so we are talking about recent history that is fast approaching a decade.

The latest Professional Hiring Index from recruitment firm Robert Half UK reveals that senior C-suite executives across UK companies plan to increase staff levels significantly over the first half of 2016.

"An average 58% of senior executives leading finance teams across UK industries , as well as financial services executives predict that they will create new jobs in the next six months" it says.

The index demonstrates that growth will be particularly strong in the financial services industry, with nearly two thirds of C-suite executives (62%) saying that they will increase their headcount in the first half of the year, it adds.

This forecast is up from 54% in June 2015, 41% in January 2015 and 31% in January 2013, says Robert Half - and suggests that it shows that the industry will continue to move on an upward trajectory throughout the course of 2016.

But, despite the best intentions of UK CFOs and FDs, hiring may prove to be difficult "as 90% of respondents stated it is 'very' or 'somewhat' challenging to find skilled professionals.

In particular, finding talented professionals with the right skills is most difficult for those in compliance (21%) due to the on-going regulatory changes, accounting (20%) and business / financial analysis (19%)" says Robert Half.

This does not bode well for the financial services sector in 2016. The issue of corporate culture needs to be addressed far before the hiring commences, or we risk repetition with ugly consequences.


Categories: Appointments, Corporate, Governance