Recruitment Forecast For The Financial Services Sector

71% of surveyed CFOs and HR heads working within the Financial Services sector believe that 2013 will be a better year for their business than 2012.  This data has been revealed in the quarterly report carried out by recruiter Randstad Financial & Professional who surveyed more than 200 of their clients at the beginning of the current year.

One of the challenges that is biggest challenges resulting from the financial crisis is the difficulty in getting headcount approvals and budget sign off, 41.2% of respondents think that this will be the toughest problem they face this year. However, despite this, 57% of companies within the asset management, investment banking, asset services and insurance industries forecast a growth in their overall number of employees this year.  Much of this work will be contract based as only 35% of employers think that the number of permanent jobs will rise.

The second biggest challenge Financial Service recruiters face is that they do not believe the right candidate is currently available; this is due to the increasing skill-demands demanded by employers.  38.9% of survey respondents stated  that “the ‘right’ candidate not being available” was the biggest challenge to recruiting in 2013.

These are, by far, the two most important topics within the sector in terms of recruiting; other challenges highlighted by only by a small portion of respondents include a lengthy recruitment process, changing business needs and unreasonable candidate expectations.

Infographic brought to us by Randstad Finance and Banking Jobs.

UK Financial Services Hiring 2013 - Infographic

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