the job market report: banking, finance & fintech
TRANSCRIPT
The Job Market ReportBanking, Finance & Fintech8 September 2016Mark Rhodes, Marketing Director
Brexit:What happened
next?The UK
job marketRecruitment: a customer experience
@reedcouk
1960
1995
Britain’s favourite recruiter.
Today
AgendaImpact of Brexit The job market What top talent really wants
BREXIT:WHAT HAPPENED NEXT?
of companies not freezing recruitment
83%
In the ten weeks following the referendum…
509,705Jobs posted to
reed.co.uk
increasein jobs postedyear-on-year 8%
Banking-23%
fewer jobs posted in Banking
*Performance in the 10 weeks post-referendum vs. same period in 2015
Financial Services
-5% fewer jobs posted in Financial Services
*Performance in the 10 weeks post-referendum vs. same period in 2015
General Insurance
-1% fewer jobs posted in General Insurance
*Performance in the 10 weeks post-referendum vs. same period in 2015
Accountancy+13%
fewer jobs posted in Accountancy
*Performance in the 10 weeks post-referendum vs. same period in 2015
Beware the warning signs
Banking, Finance
& Fintech
THE UK JOBS MARKET
Banking & Finance jobs advertised
Source: Innovantage
Reed Jobs Index: Jobs posted, 2010 – present
Reed Jobs Index: Jobs posted, 2010 – present
Reed Jobs Index: Jobs posted, 2010 – present
Reed Jobs Index: Jobs posted, 2010 – present
UBS Bank Management Survey
“Of 61 ‘big banks’, 38% already have a Fintech partnership, a level that looks likely to rise to 51% over the next year.”
Google searches: “Fintech Jobs”
27
Candidate supply:Average applications per job
Banking Financial Services
Accountancy (Q)
Accountancy
Insurance
13 11
10 23
All-sector
22
Banking & Finance:Expected salary vs. industry offerings
First time in 5 years that expected salary outstrips the salary offered by clients.
Over five years, offered salaries have decreased ~1%...
Expected salaries have increased 27%.
Attracting talentRecruitment: a customer experience
A recruiment experience perceived by an applicant as ‘poor’
3 out of 5candidates are left with a negative
view of your employer brand
Won’t apply for future vacancies
Less likely to use an organisation's products or services again
Will share negative experience with friends and family
25%
30%
26%
expect confirmation of application
expect confirmation within 24 hours
only91%
70%
14%always receive confirmation
15%hardly ever or neverreceive confirmation
expect to be informed of an unsuccessful application81%
NO CONTACTin 5 days in 14 days
assume they’ve been unsuccessful26% 90%
week 1 week 2 week 3 week 4application
78%expect to be at
interview within a fortnight
All-sector average
week 1 week 2 week 3 week 4application
85%expect to be at
interview within a fortnight
Banking & Finance
£29,145
Graduate starting salaries
Banking & Finance
All-sector average
£26,546
Changing how we target graduate talent
Changing how we target graduate talent
Removing academic qualifiers
Blind CVs
Flexible interviewi
ngOne-day assessme
nts
Thank you@reedcouk
0845 241 9293reed.co.uk/recruiter