The future for financial recruitment
None of us really knows what the future brings but following trends is one way to get a feel for the direction things are moving in at least and Financial recruitment is no different from any area in that respect. Here are some of my predictions for how things will look in ten years or so.
Online recruitment – clearly this has changed everything hugely already twenty years ago I remember applying for jobs by post and getting endless confirmation type letters through the post, email has replaced the post almost totally now as the communication method of choice and web site uploading of CV’s is rapidly killing off the last remaining paper CV copies! This area is going to grow further though, as I expect more intelligent software to appear which will approach candidates by location and experience using data sources such as Linkedin to present opportunities to candidates who were not even looking. There is definitely an increase in the roles that appear across linkedin and their algorithm is increasingly good a tempting you with closely matching job opportunities so even those who have no thoughts of changing jobs get enticed by particularly attractive opportunites. I am sure that with the advent of Artificial intelligence, increasingly candidates will be approached for roles automatically and the more information they hold about you, the more likely such matches will be good ones.
Employment/Unemployment – we are already seeing headlines about how unemployment has fallen to the lowest levels since then 1970’s but I expect that trend to continue further and for unemployment to reduce down to the levels we say before the first world war and the great depression. This means that candidates actually looking for work will be in even further short supply than they are at the present time. Making the life of employers and recruiters tougher but the rewards and situations of candidates even better. Since the bank of England gained independence, monetary policy in the UK has been transformed and there is real confidence in the ability of the bank to keep inflation down. This in turn has translated into low interest rates and a solid long term environment for business to invest. All of these factors together then turn into the steady creation of jobs, and the gradual decline in unemployment and under employment.
Artificial Intelligence – As mentioned already I can see a correlation between the financial performance of companies and the desireability of their senior team for headhunters but few if any applications compare the CV’s of candidates to the web performance and financial performance of the companies they worked for. Not every team member is responsible for success or failure of course, but having a more holistic feel for the success or otherwise of companies a candidate has worked for is a logic next step. There is an increasing number of free and Pay as you go Business intelligence services around, so it is now easier than ever to find out about your prospective employer.
Gig Economy / remote working – whilst I can see a role for outsourcing of transactional teams in finance I think senior roles will be not be overly impacted by the growth in the Gig sector. I can see Portfolio Finance Directors working more remotely however and being able to attend more virtual meetings as a result, with the benefits of being able to offer their services to more remoter locations. An FD may spend a summer in Cyprus with his family for their school holidays whilst for example handling day to day issues and attending board meetings in London and Birmingham, this is already happening though senior finance is slow to embrace this. There is likely to be continued growth in home working opportunities.
source:internet
