The Finance Sector in The Brexit Era

 

 

An impending Brexit has gifted the financial sector with a strong feeling of uncertainty. As banks plan to relocate large numbers of jobs away from London, there has been a far from unexpected fall in permanent job opportunities in the finance sector. UBS and HSBC each announced plans to relocate 1,000 jobs away from the Capital and the decline in financial services is expected to persist throughout 2017.  (Source; Crystal Umbrella, February 2017 )

With London at the heart of the EU’s financial zone the highest paying positions across the European sector sees 4 out of 5 high-earning financiers in the UK, but this is set to change. The Guardian  reported that Amsterdam is in talks with major financial institutions based in the City of London about their imminent relocation to the Dutch capital

With recruitment activity already affecting permanent placements, hiring has dropped by 4.6%. The quantity of new permanent openings across all sectors appearing on the market declined by 2% and demand for permanent finance professionals plummeted by 14%.  (Source; Crystal Umbrella, February 2017 )

Recruitment stagnation raised by Brexit, including a now vital need to find and bring the right talent to new locations makes it ever more important for in-house recruiters to have access to Big Data and analytical information on candidates and market competition.  JobsTheWord use Big Data and analytics on a global scale with technology that can find the exact profile that a financial body is looking to recruit, anywhere in the global market.

JobsTheWord’s tools are built for long-term talent mapping and aid any institutions on route to relocation, such as The EBA which is based in London but will relocate to mainland Europe after Brexit, to find out which universities are producing the top talent in their new hire locations, enabling them to tailor graduate programs in new and emerging markets. JobsTheWord can reach talent pools tailor-made to your requirements so you can relay your job opportunity, employer brand and company culture directly to the right talent, avoiding time wasted on both non-qualifying and disinterested candidates, cutting time-to-hire as well enhancing brand awareness.

Since 2010 we have seen the banking sector move toward hiring fewer individuals preferring to focus on cross-disciplined and cross-trained employees for entry & mid-level positions. Horsefly analytics by JobsTheWord enables recruiters to source multi-dimensional candidates  by profiling via skill sets, qualifications and employment history, making it a key tool for successful hires in modern finance. Already working with some of the biggest financial brands in the world; WorldPay, MBNA, Lloyds Banking Group, JobsTheWord’s AI technology is learning in perpetuity and is enhanced by their existing client base.

“We have already recommended JobsTheWorld services to a number of potential clients, and are always happy to endorse their service to all!” WorldPay

Despite the imminent changes that Brexit has invited into the sector it is still one of the most competitive industries for recruitment. JobsTheWord’s Horsefly analytics and Wammee marketing tools combined offer in-house recruiters the ability to market their employer brand directly to passive talent and can be an invaluable hiring tool in a sector notorious for poaching candidates.

We’ve already recommended JobsTheWord to colleagues in the wider reach of Bank of America. JobsTheWord’s service is very good and their after sales follow up excellent.” MBNA

 

 

 

Steve Bebbington
Client Partner
enquiries@jobstheword.co.uk
0207 193 0220

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