At a time when reports suggest that hiring within the financial services sector is at its highest level since the collapse of Lehman Brothers, new research from TheJobPost warns that unless organisations reassess their employee value proposition future growth will be severely impacted.
At the recent Talent Leaders Connect event, it was found that only a minority of HR professionals and hiring managers from a range of financial and professional services businesses feel equipped to attract and retain the right talent due to a disconnect with the emerging generation. TheJobPost’s delegate survey revealed that 47 percent currently struggle to attract, and engage with, millennials. A further 33 percent acknowledged that, where the organisation does recruit from the emerging talent pool, retaining these individuals is difficult.
The issue is exacerbated given that 67 percent of those in attendance plan to recruit more staff over the next twelve months, with many acknowledging that millennials will form a significant percentage of these hires. Ken Brotherston, Chairman of TheJobPost commented: “Emerging talent groups will play a huge role in the future growth and success of organisations in the financial services arena – particularly when it comes to maximising the potential of technology and digital innovation. However, due to the perceptions of the industry that have developed since the banking crisis of 2008, it would appear that not enough millennials are choosing this career route. Given that the sector is perhaps already behind other industries in terms of hiring digital talent, it’s vital that employers reassess attraction strategies now.”
“As became very clear at the Talent Leaders Connect event, the most crucial step is to change these perceptions of the industry to demonstrate the immense opportunities that are available in financial services. The way to do this is to develop a more compelling employee value proposition that tells an engaging story and appeals to this audience. By communicating with this group in a manner that is tailored to their specific wants and needs, it’s possible to not only challenge the current misconceptions, but also more successfully compete for the very best candidates.”
