Hays Banking
JANUARY - MARCH 2012
Hotspots
The Wellington market is experiencing a resurgence in banking vacancy activity across the board, but particularly in investments and retail. In commercial capital, areas of demand are wealth management and investments together with risk and compliance analysts/specialists.
The return of initial market confidence has brought about organisational restructures and several new business teams have opened in the Wellington banking sector. In Auckland new regulations in the financial services sector has seen a need for specialist risk and compliance candidates. Increased confidence has also seen a return of investors and therefore a need for experienced candidates in wealth management.
Overcoming skills shortages
Employers are looking at staff succession to help overcome skills shortages. New Hays research has shown that 68 per cent of people end up in positions other than what they anticipated, which has obvious retention consequences and demonstrates the value that can come from instead working with a recruiting expert. Companies are also looking at longer term recruitment solutions, particularly in regards to securing overseas talent for hard to find specialist areas.
The coming quarter
Most organisations are looking to hire permanent staff this quarter following a number of restructures in the market. We also expect to see a rise in the number of senior positions becoming available.
Executive recruitment
There continues to be movement at the executive and senior management levels within the banking and finance sectors as employers look to secure talent who can help to drive and improve organisational efficiency in a challenging market.
Employer trends
Towards the end of last quarter there was a rush to fill vacancies before the end of the year, while some employers have opted to defer hiring until early in this quarter. We continue to see strong demand for high calibre candidates, and in most cases, employers are seeking to recruit candidates without increasing salary bands.
Candidate trends
Wellington continues to lose talent both offshore and to Auckland with only a limited number of fresh candidates coming in to replace those who have left. Auckland on the other hand is benefitting from a good flow of candidates, including those that are looking to immigrate to the city from overseas. In this instance, we are seeing some employers reluctant to assist with securing work permits unless it is a hard to fill role considering the number of local candidates available.
