Top 4 Trends for Financial Services Recruiting

A recent survey by PWC revealed that a quarter of CEO’s in financial services jobs have had to delay or cancel a strategic initiative within the company because they can’t find the right employees to execute the job. A recruiter looking for a job in the financial services industry should, therefore, be prepared to deal with the ever increasing complexity of filling in job positions in this sector that is continuously expanding. The following trends can help you find the right talent in this highly competitive industry to ensure that your organization continues to blossom.

Privacy and Security

IT threats are the biggest nightmare for financial services recruiters when it comes to financial sustainability. IT advancements like the increment of worldwide mobile payment which exceeded $235.4 billion in 2013 have greatly transformed the financial sector. Skilled IT professionals are now in high demand since they are needed to manage the risks created by such developments.

The Rapid Growth of Freelancing

It is now estimated that a third of America’s workforce is composed of fireplaces, contractors or consultants. This is a big challenge for Chicago finance recruiters since it becomes difficult to find professionals who are willing to dedicate their time to working in a single organization. More businesses today prefer freelancers since it gives them a win-win scenario where they can get highly specialized workers without paying any extra benefits whereas the workers can control their schedules since this arrangement is more flexible.

Diversity Has Become a Priority

America has a diverse network of workers in all industries. Unfortunately, this diversity doesn’t reflect in the financial services industry. A report by InvestmentNews stated that only three percent senior positions in the financial sector are held by workers or African-American origin. This means financial services recruiters are faced with the big task of ensuring diversity in their recruiting tasks.

Millennial and the Role They Play

Millennial generally find this strict and conservative industry a challenge especially when it comes to dressing codes. Chicago finance recruiters also worry about employing young professionals since most of them only use the opportunity as a climbing stone to flag off their career as opposed to planning on working on a long-term basis. Some financial services recruiters have observed that there are very talented young professionals who will tend to avoid this sector because of the fear of financial collapse. In order for recruiters to be able to tap into the top talent that can make for future leadership, it's important for them to encourage the companies and organizations to quickly adapt to rapid changes in the industry.

Following these top trends can help financial services recruiters in Chicago to uncover the best employees for the various tasks that will help an organization achieve its goals and objectives.