📣 Don’t Miss Out on Hiring Success in 2024 – Act Now!

It’s 2024 and hiring season is upon us……..  Are you ready?

Within the financial services arena, late Q1 through Q2 represent a significant portion of hiring for the year. According to a recent survey conducted by CareerBuilder, January – March are the busiest months for hiring in the financial sector. This trend is not surprising, as many companies are looking to fill roles that were put on hold during the holiday season, new budgets and strategic plans are in place for the year, organizations are eager to bring in fresh talent to drive their business forward, and of course the bonus cycles all contribute to this.   As such, now is the time to be proactive in your talent acquisition or job search efforts.

 

The financial services industry continues to see significant shifts in hiring trends. According to a recent report by Deloitte, there is a growing demand for professionals with expertise in risk management, legal/compliance, digital transformation, and cybersecurity.  Healthcare, technology, renewable energy, and the finance / accounting sector are also expected to see a steady increase in job opportunities in 2024. The U.S. Department of Labor projects a 7% growth in employment for financial analysts and a 6% growth for accountants and auditors, as companies continue to navigate economic challenges and regulatory changes and need skilled professionals in finance and accounting to provide strategic guidance and financial oversight.

 

These trends are also driven by the increasing focus on technology and data security within financial institutions. Furthermore, the importance of diversity and inclusion in hiring practices, with a strong emphasis on creating a more inclusive workforce continues to be a significant trend. In addition, a study by PwC suggests that there is a growing need for talent with skills in ESG (Environmental, Social, and Governance) investing and sustainability. With the rise of sustainable finance and impact investing, financial firms are seeking individuals who can integrate ESG principles into their investment strategies. This trend reflects the growing influence of environmental and social considerations in the financial services sector.

 

Glassdoor reports the frequent lament that hiring managers face in their struggle to find suitable candidates for their open positions, by not focusing on utilizing targeted recruitment strategies to reach potential candidates. 

 

One way to navigate the ever-evolving landscape of talent acquisition is to remain ahead of the curve when it comes to being true to your brand!  According to a recent survey by LinkedIn, 72% of talent acquisition professionals believe that employer branding has a significant impact on hiring great talent. In today’s competitive job market, branding has become increasingly essential in attracting and retaining top talent. A strong employer brand not only helps attract high-quality candidates, but also plays a significant role in retaining employees. 

 

Glassdoor also reports that three quarters of job seekers consider an employer’s brand before applying for a job, and 69% would reject a job offer from a company with a bad reputation, even if they were unemployed. Companies with strong employer brands experience significant decreases in the cost per hire and turnover rates, according to a study by LinkedIn.  

 

Furthermore, strong corporate branding leads to higher levels of employee engagement and productivity. A study conducted by  by CareerArc, shows that ~90% of employees are likely to stay at a company longer if it has an employer brand that remains consistent across all channels.

 

Over the next several weeks, we will continue to share tips to help you attract and retain the upper echelons of the candidate pool. 

Feel free to reach out directly to discuss this topic further as well as any other questions or concerns regarding the current hiring climate. I guarantee that in our call together you will leave with 2 or 3 ideas that will greatly impact your ability to find, attract, and procure the top 10-15% of the candidate pool on a consistent basis.

 

#RecruitmentStrategies #TopTalent #HiringProcess #TalentAcquisition #RecruitmentStrategy #EmployerBranding #recruitmenttrends