The demand reported in February for business analysts to support change projects continues, suggesting that banks are still reviewing their strategies and updating their internal regulations in response to public, FSA and government pressures.
As expected, institutions with very public problems are snapping up the most talent as they attempt to ‘get their houses in order’ and tighten controls. Finance qualifications and experience top the list of competencies required. Professionals with line and project experience who can demonstrate their communication skills in both arenas will have a distinct advantage, especially those whose product knowledge will allow them to better spot ‘irregularities’ across different trade processes.
Institutions with very public problems are snapping up the most talent
Though more vacancies continue to come to the fore, up to one in four are being cancelled or put on hold after steps have been taken to find the right professional for the job, leaving the stakeholders involved in the recruitment process in an awkward position.
According to Employer branding essentials, a Badenoch & Clark guide, “while a jobseeker’s first impression of your organisation will determine their immediate interest in you, this judgement will keep changing.” But it doesn’t necessarily follow that your reputation, relationships or employer brand need suffer.
The decision to curtail the recruitment of a role is never taken lightly by employers. Aspiring candidates may have had their hopes dashed, but a professional recruitment partner should be able to explain the situation sympathetically and help manage expectations on both sides sensitively.
Though the commercial reasons for putting roles on hold are rarely foreseen, employers should try to set recruitment commitments in stone from the outset with all the internal stakeholders that might have a bearing on them in the future, and raise concerns with their recruitment partner early on to manage the situation most effectively.
As recently recruited project leaders settle into their roles, they are likely to uncover a truer picture of the essential hires needed within their project team and focus on recruiting for these vacancies alone in months to come.
