Employers confident about job market
Following two consecutive quarters of declining employer confidence, the financial services sector is back on track with employers reporting an increase in hiring intentions in the second quarter of 2011, according to recruitment services company Hudson.
According to its recent Hudson Report: Employment Expectations survey of 5,072 employers Australia-wide, a net 33.6 per cent of financial services employers expect to increase permanent headcount over Q2 2011. This is an increase of 0.9 percentage points over figures recorded last quarter.
Dean Davidson, national practice director at Hudson Accounting and Finance, said the strong momentum in the Australian economy coupled with the low unemployment rate have worked together to boost confidence among financial services employers.
“Last quarter we saw a renewed caution among financial services employers due to the continued stress in European markets,” he said. “Organisations watched these changes carefully and although caution remains this quarter, we are certainly seeing a new sense of optimism among employers as the Australian economy builds momentum.”
Davidson added that employer sentiment in the financial services arena continued to be affected by project opportunities and corporate governance work as domestic banks made improvements to core infrastructure and risk management processes. “This could well be underpinning confidence in the financial services sector as a growing number of jobs are created to meet demand,” he said.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
