the job market report: banking, finance & fintech

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The Job Market Report Banking, Finance & Fintech 8 September 2016 Mark Rhodes, Marketing Director Brexit: What happened next? The UK job market Recruitment: a customer experience @reedcouk

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Page 1: The Job Market Report: Banking, Finance & Fintech

The Job Market ReportBanking, Finance & Fintech8 September 2016Mark Rhodes, Marketing Director

Brexit:What happened

next?The UK

job marketRecruitment: a customer experience

@reedcouk

Page 2: The Job Market Report: Banking, Finance & Fintech

1960

Page 3: The Job Market Report: Banking, Finance & Fintech

1995

Page 4: The Job Market Report: Banking, Finance & Fintech

Britain’s favourite recruiter.

Today

Page 5: The Job Market Report: Banking, Finance & Fintech

AgendaImpact of Brexit The job market What top talent really wants

BREXIT:WHAT HAPPENED NEXT?

Page 6: The Job Market Report: Banking, Finance & Fintech

of companies not freezing recruitment

83%

Page 7: The Job Market Report: Banking, Finance & Fintech

In the ten weeks following the referendum…

Page 8: The Job Market Report: Banking, Finance & Fintech

509,705Jobs posted to

reed.co.uk

Page 9: The Job Market Report: Banking, Finance & Fintech

increasein jobs postedyear-on-year 8%

Page 10: The Job Market Report: Banking, Finance & Fintech

Banking-23%

fewer jobs posted in Banking

*Performance in the 10 weeks post-referendum vs. same period in 2015

Page 11: The Job Market Report: Banking, Finance & Fintech

Financial Services

-5% fewer jobs posted in Financial Services

*Performance in the 10 weeks post-referendum vs. same period in 2015

Page 12: The Job Market Report: Banking, Finance & Fintech

General Insurance

-1% fewer jobs posted in General Insurance

*Performance in the 10 weeks post-referendum vs. same period in 2015

Page 13: The Job Market Report: Banking, Finance & Fintech

Accountancy+13%

fewer jobs posted in Accountancy

*Performance in the 10 weeks post-referendum vs. same period in 2015

Page 14: The Job Market Report: Banking, Finance & Fintech

Beware the warning signs

Page 15: The Job Market Report: Banking, Finance & Fintech

Banking, Finance

& Fintech

THE UK JOBS MARKET

Page 16: The Job Market Report: Banking, Finance & Fintech

Banking & Finance jobs advertised

Source: Innovantage

Page 17: The Job Market Report: Banking, Finance & Fintech

Reed Jobs Index: Jobs posted, 2010 – present

Page 18: The Job Market Report: Banking, Finance & Fintech

Reed Jobs Index: Jobs posted, 2010 – present

Page 19: The Job Market Report: Banking, Finance & Fintech

Reed Jobs Index: Jobs posted, 2010 – present

Page 20: The Job Market Report: Banking, Finance & Fintech

Reed Jobs Index: Jobs posted, 2010 – present

Page 21: The Job Market Report: Banking, Finance & Fintech

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”

Page 22: The Job Market Report: Banking, Finance & Fintech

27

Candidate supply:Average applications per job

Banking Financial Services

Accountancy (Q)

Accountancy

Insurance

13 11

10 23

All-sector

22

Page 23: The Job Market Report: Banking, Finance & Fintech

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%.

Page 24: The Job Market Report: Banking, Finance & Fintech

Attracting talentRecruitment: a customer experience

Page 25: The Job Market Report: Banking, Finance & Fintech

A recruiment experience perceived by an applicant as ‘poor’

3 out of 5candidates are left with a negative

view of your employer brand

Page 26: The Job Market Report: Banking, Finance & Fintech

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%

Page 27: The Job Market Report: Banking, Finance & Fintech

expect confirmation of application

expect confirmation within 24 hours

only91%

70%

14%always receive confirmation

15%hardly ever or neverreceive confirmation

Page 28: The Job Market Report: Banking, Finance & Fintech

expect to be informed of an unsuccessful application81%

Page 29: The Job Market Report: Banking, Finance & Fintech

NO CONTACTin 5 days in 14 days

assume they’ve been unsuccessful26% 90%

Page 30: The Job Market Report: Banking, Finance & Fintech

week 1 week 2 week 3 week 4application

78%expect to be at

interview within a fortnight

All-sector average

Page 31: The Job Market Report: Banking, Finance & Fintech

week 1 week 2 week 3 week 4application

85%expect to be at

interview within a fortnight

Banking & Finance

Page 32: The Job Market Report: Banking, Finance & Fintech
Page 33: The Job Market Report: Banking, Finance & Fintech

£29,145

Graduate starting salaries

Banking & Finance

All-sector average

£26,546

Page 34: The Job Market Report: Banking, Finance & Fintech

Changing how we target graduate talent

Page 35: The Job Market Report: Banking, Finance & Fintech

Changing how we target graduate talent

Removing academic qualifiers

Blind CVs

Flexible interviewi

ngOne-day assessme

nts

Page 36: The Job Market Report: Banking, Finance & Fintech

Thank you@reedcouk

0845 241 9293reed.co.uk/recruiter