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Recruitment Roundup #17

Recruitment Roundup #17 

In today’s Recruitment Roundup, we address the skills gaps in the financial sector following the release of a recent report. The financial services industry is experiencing changes in how it hires, as shown in the new Financial Services Skills Commission (FSSC) Future Skills Report 2024.

Addressing a virtual audience on April 24th, Claire Tunley, CEO of the FSSC, highlighted the importance of aligning training initiatives with the dynamic needs of businesses - ‘getting the right training to the right people at the right time.’ Therefore, this signifies how pivotal it is for businesses the timing and precision in skill development to grow ever-present skills gaps.

Recruitment pressures have eased since their peak in summer 2022, with more job openings and fewer people leaving their jobs. However, there are still challenges that remain.

Even though there's progress in adopting AI and sustainability, there are still skill gaps that need addressing. Katharina Ehrhart from FSSC notes that while recruitment pressures have eased, about three out of every 100 roles in finance are still vacant - ‘Compared to 2022, we’ve come down from that record high of vacancies that we had in 2022. But about three in 100 roles and financial services still remain unfilled.’

Furthermore, attracting and keeping talent are ongoing priorities. This requires taking proactive steps like improving internal opportunities and offering effective training courses. The report also stresses the urgency of filling the talent pool, especially with an expected 260,000 skilled workers leaving the sector by 2035.

The financial services industry is at a crucial point, aiming to adapt to new technologies and cultivate a skilled workforce for lasting progress. The FSSC report provides direction for stakeholders, helping deal with recruitment challenges and build a strong workforce ready for what lies ahead.

The Recruitment Group can support and help your organisation with a wide talent pool and efficient strategies in place - give us a call on 01332 318 711 and we can discuss this in more detail. 

Also, we can support you in finding the right role. If you are still searching for a job then be sure to check out our ‘4 ways to improve your job search’ blog for more guidance. 

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