Demand for candidates still high despite credit crunch scare
The global credit crunch continues to tighten its grip over the UK economy; its effects are now being felt across the financial services jobs market, with some major banks announcing planned redundancies for 2008.
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Vacancy registrations up by 8%
Despite this, Hays City, a specialist recruiter for the City banking community, is finding that demand for high-calibre individuals still outstrips supply, resulting in a candidate-driven market. In fact, year on year, Hays City has seen an 8% increase in vacancy registrations, and reported vacancy levels in January 2008 indicate that this is yet to change.
The reported high volumes of vacancies registered by Hays City’s broad client base include those in the banking and financial-services communities. The majority of clients in the Investment Banking, Retail Banking and Investment Management divisions are currently recruiting, and continue to make positive predictions about future hires.
Although Hays City expects the majority of recruitment for the first half of 2008 to take the form of natural replacement headcount, many of its clients (top-tier institutions included) will have a steady demand for experienced individuals, particularly those with hard-to-find skills or emerging-markets exposure.
Strong 'bargaining position' for candidates
Geoff Fawcett, Head of City Finance Appointments,says: "The message is – don’t panic. Our consultants in Hays City are reporting a higher number of roles than we have candidates to fill them. Now is an excellent time for candidates to start considering their career options."
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Notes to Editor
Hays Senior Finance has been developed from Hays’s established Accountancy & Financebusiness to provide a specialist service for qualified accountants and recruiters. Hays has a national network of experienced Senior Finance consultants. Hays Senior Finance recruits qualifieds accountants across commerce and industry, financial services, practice firms, public services and not for profit organisations at all levels, up to finance directors and partners in practice firms.
Hays Senior Finance team is a subdivision of Hays Plc, the FTSE 250 Company which employs 7,753 staff operating from 376 offices in 25 countries across 17 specialisms. Hays Plc placed circa 68,000 candidates into permanent jobs and paid circa 46,000 temporary workers weekly during the year ending 30 June 07.
For further press information, please contact:
Sarah Swailes
PR Executive
Hays Senior Finance
e: sarah.swailes@hays.com
