The past few years have, with no surprise, caused many candidates to change their outlook on the work-life balance and what now motivates them.
The top 3 motivators for candidates:
- Flexible Working
- Wellbeing
- Career Progression
Flexibility
It will come as no surprise that the most requested benefit was flexibility, and this has stemmed mainly from the result of Covid 19 and individuals reassessing the work-life balance requesting flexibility from the employer on what would be traditionally deemed as ‘domestic’ matters such as childcare or family illness. Candidates are now generally asking for 2-3 days working from home.
Wellbeing
When looking to attract the best talent employers need to be able to articulate a clear and concise wellbeing strategy. Candidates have taken time to reflect on what is important to them mid- to longer-term and are now focussing on what future employers can offer them in terms of training, and wellbeing schemes.
Career Progression
We are seeing more and more candidates not only looking for new roles that are a step up but also for businesses that have scope for clear progression in the future. Employees now need to be able to discuss a future employees potential career path over a 3-5 year period during interview.
The top 3 motivators for businesses:
- Diversity
- Tech-savvy Individuals
- Specialists Over Generalists
Diversity
Diversity has, become a top priority for the majority of businesses over the past 12 months – including financial services. Many firms have begun to invest heavily in their diversity program, reviewing their current and previous approach, establishing new specialist teams as well as engaging with their communities.
Tech Savvy
When discussing hiring strategies and individual hires with our clients a common trend appeared around the need for technologically savvy employees. Many firms are looking to automate processes where possible and candidates who can demonstrate previous experience of systems implementation and automation are in high demand.
Specialists Over Generalists
The pandemic has forced financial service businesses and the regulators to rapidly adapt and we have potentially seen 5-10 years of evolution within the space of 2 years. This has brought added complexity to the financial services sector and thus to corporate governance teams, meaning hiring managers now require individuals to be specialists rather than the generalists they would previously hire.
Looking for more insight?
Our 2023 Salary Survey discussed further significant insights in motivators, diversity, and future recruitment trends for candidates and employers in the post-pandemic years. Download your free copy here.
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