Banking sector chases financial planners and risk professionals
The banking sector has its eyes firmly set on hiring financial planners, superannuation professionals and business development officers - and employers are willing to offer more incentives to retain staff, according to the latest Hays Quarterly Report.
A combination of global economic conditions and the desire of candidates to earn higher salaries has also created increased demand for paraplanners and foreign exchange operations professionals.
In addition, experienced operational risk candidates with specific product knowledge are in high demand as organisations undergo the process of reviewing risk procedures and implementing new strategies, according to Hays Banking director Jane McNeill.
The report, based on current employer trends, found that in order to secure candidates with these specific skills, employers were offering the right candidates incentives such career development, internal promotions, free parking, bonus incentives and the opportunity to work from home.
Hays found that in spite of this, a number of employers were looking at hiring new employees with long-term potential and would consider less experienced candidates.
"The main reason is that they [the employers] believe this gives the candidate a greater incentive to remain long-term with the organisation. For the same reason, many employers will also invest in new graduates and develop their experience," McNeill said.
Financial professionals with skills that are currently in high demand are "far more selective about the companies and positions they will consider", the report stated.
"As a result, employers are enhancing their employee value proposition during the interview process," McNeill added.
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.
