Market Update - June 2016

Market overview


Currently the entire financial services industry is going through extensive changes and ransformation.

There are a number of keydrivers behind these changes, including:

• impact of new regulation
• uncertainty around the EU Referendum
• transformation due to an increased focus on customer outcomes
• a move towards digital programmes - from an HR perspective this isprimarily data and systems driven.

These drivers have affected the confidence in the recruitment market and have led to a great deal of uncertainty.

Overall trends


Lower market mobility in higher end positions - senior HRprofessionals are being more cautious in their job search, causing an increased challenge to attract and recruit talent at these levels.
Substantial activity in the lower end of the market - juniorcandidates are continuing to move around, but are not always being replaced like-for-like in their organisation.
Hesitation to increase permanent headcount, but an increase in change projects - this is causing an increased demand for qualitycontractors and interim specialists.
A continued demand for talent specialists - this in response to organisations focusing on engaging and retaining top talent in their business.

The hottest roles in the market


Interim skills in demand:
• change, transformation and OD roles
• data and HRIS roles
• high calibre talent and engagement specialists.

Permanent skills in demand:
• technology recruiters (especially at a more junior level)
• graduate recruitment and development specialists
• regulatory training managers
• regulatory reward roles
• high calibre talent and engagement specialists
• leadership management and development specialists.

Skills and talent shortages


We’re currently seeing skills and talent shortages for:

• regulatory reward and regulatory training managers
• high calibre talent and learning & development professionals
• any roles with mixed specialisms (e.g. business partners with a strong analytical or  eward background).

Spotlight on: millennials & financial services


Traditional financial services organisations are losing their appeal to graduates due to the overarching impression that they’re overly bureaucratic, lack work-life balance, and are constantly re-structuring. Millennials are therefore more inclined to join dynamic,fastgrowing start-ups where they are given the opportunity to be creative and innovative, take more ownership and balance their personal lives more effectively.