Financial services recruiters in Europe, the US and Asia – both in-house and at agencies – say they’re facing new pain points in 2021 because the supply of talent is failing to keep up with the demand for jobs.
Skill shortages are rising, especially in technology and in junior-level investment banking. It’s common now for good candidates to receive multiple job offers and for their current employer to try to retain them with a counter offer. As a result, some professionals are pushing for substantial pay increments.
But it’s the sluggish pace of interview processes that is proving the biggest obstacle to financial institutions as the war for talent heats up, according to a poll we conducted in July. This is causing financial firms to lose talent to speedier competitors such as startups and big tech companies.
The challenges of a recovering job market require financial institutions to rethink how they source, interview, and engage with candidates. Download our new white paper to discover key strategies for successful recruitment in 2021.
Photo by Chase Murphy on Unsplash