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.

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