Digital drive ramps up finance hiring
Finance, insurance, and real estate sector employers expect to increase hiring for the third quarter of 2016 on the back of a drive to ramp up technological capabilities, according to a recruitment company survey.
The ‘Manpower Employment Outlook Survey Q3 2016' showed 18 per cent of employers across the three sectors intended to increase headcount between July and September.
The seasonally adjusted net employment outlook (NEO) of +15 per cent was three percentage points up from last quarter and down three percentage points year-on-year, and represented the highest NEO of all sectors surveyed for the last 11 consecutive quarters.
ManpowerGroup Australia and New Zealand managing director, Richard Fischer, said the results showed Australia was successfully transitioning away from mining and into other sectors.
"There are financial services and real estate projects coming into the Australian market which will drive employment opportunities for individuals with in-demand skills sets," he said.
"In particular, specialised IT skills are in high demand, as many financial institutions look towards implementing cutting edge technologies and large-scale IT infrastructure upgrades to enable them to remain competitive businesses in the digital age."
Fischer also said large corporations and small to medium enterprises were looking to increase or maintain headcount despite record low interest rates, sluggish wage growth, and an uncertain political climate.
Hiring intentions were highest among employers in medium-sized businesses in the July-September period, with an NEO of +11 per cent, a seven percentage point jump from the last quarter. Micro and smaller employers reported NEOs of +2.0 per cent and +9.0 per cent respectively.
AUTHOR
Malavika Santhebennur
Recommended for you
Sequoia Financial Group has declined by five financial advisers in the past week, four of whom have opened up a new AFSL, according to Wealth Data.
Insignia Financial chief executive Scott Hartley has detailed whether the firm will be selecting an exclusive bidder for the second phase of due diligence as it awaits revised bids from three private equity players.
Insignia Financial has reported a statutory net loss after tax of $17 million in its first half results, although the firm has noted cost optimisation means this is an improvement from a $50 million loss last year.
With alternative funds being described as “impossible” for fund managers to target towards advisers without the support of BDMs for education, Money Management explores the evolving nature of the distribution role.
