Role for recruiters in getting banking reputation in the black
15 May 2013
Attempts to shift perceptions around banking could boost the sector’s attractiveness to future talent – and recruiters have a role to play in this work.
Wed, 15 May 2013Attempts to shift perceptions around banking could boost the sector’s attractiveness to future talent – and recruiters have a role to play in this work.
In a speech on Monday, the chief executive officer of Lloyds Banking Group, António Horta-Osório, said the banking industry “urgently” needs to address the issue of its reputation is putting off potential talent, with City recruiters telling Recruiter yesterday they, to some degree, shared these concerns.
Horta-Osório said: “The next generation should see banking as an industry that helps to build economic wealth and is playing its part as a useful member of our local communities.”
Such a clean-up of the image of the banking profession would certainly help at the student end, reckons Isabel Frazer, a careers consultant at the University of London’s The Careers Group, who specialises in the City.
She says: “Students tend to react very positively to tangible actions taken by organisations that represent company values. Therefore if banks are able to demonstrate clearly how they are [doing that], I would expect this to have a positive impact on potential applicants.”
Kieran Behan, the managing director of finance recruiter Selby Jennings, tells Recruiter that recruitment firms can be involved in changing the way banks are seen, saying: “The main role a recruiter can play is to be a second voice in supporting the message of our clients.
“They must inform candidates about the changes happening in the industry to ensure the banking industry restores its reputation within the candidate population and society as a whole.”
He says that selling the benefits of working within the sector, including good earnings and bonuses, and wide-ranging and flexible benefits to “ensure that talent does not leave to competing industries” is another way recruiters can contribute.
Richard Hoar, director of banking and financial services at recruiter Goodman Masson, says that representing a sector with a sub-prime reputation is difficult but not an impossible task.
“Our job is to represent our clients to the best of our ability, it’s probably more difficult now than it was before the financial crisis”, he says, “but we are still able to find people.”
However for Jonathan Farmer, the head of the strategy and analysis team at headhunter Carlton Senior Appointments, the bottom line as far as reputation goes – is the bottom line.
He tells Recruiter: “With the FTSE reaching its highest point last week for the last five and a half years, markets are on the up. As the markets improve, we see reputational issues becoming less important and many people more than happy to overlook industry reputation for additional financial gain.”
In a speech on Monday, the chief executive officer of Lloyds Banking Group, António Horta-Osório, said the banking industry “urgently” needs to address the issue of its reputation is putting off potential talent, with City recruiters telling Recruiter yesterday they, to some degree, shared these concerns.
Horta-Osório said: “The next generation should see banking as an industry that helps to build economic wealth and is playing its part as a useful member of our local communities.”
Such a clean-up of the image of the banking profession would certainly help at the student end, reckons Isabel Frazer, a careers consultant at the University of London’s The Careers Group, who specialises in the City.
She says: “Students tend to react very positively to tangible actions taken by organisations that represent company values. Therefore if banks are able to demonstrate clearly how they are [doing that], I would expect this to have a positive impact on potential applicants.”
Kieran Behan, the managing director of finance recruiter Selby Jennings, tells Recruiter that recruitment firms can be involved in changing the way banks are seen, saying: “The main role a recruiter can play is to be a second voice in supporting the message of our clients.
“They must inform candidates about the changes happening in the industry to ensure the banking industry restores its reputation within the candidate population and society as a whole.”
He says that selling the benefits of working within the sector, including good earnings and bonuses, and wide-ranging and flexible benefits to “ensure that talent does not leave to competing industries” is another way recruiters can contribute.
Richard Hoar, director of banking and financial services at recruiter Goodman Masson, says that representing a sector with a sub-prime reputation is difficult but not an impossible task.
“Our job is to represent our clients to the best of our ability, it’s probably more difficult now than it was before the financial crisis”, he says, “but we are still able to find people.”
However for Jonathan Farmer, the head of the strategy and analysis team at headhunter Carlton Senior Appointments, the bottom line as far as reputation goes – is the bottom line.
He tells Recruiter: “With the FTSE reaching its highest point last week for the last five and a half years, markets are on the up. As the markets improve, we see reputational issues becoming less important and many people more than happy to overlook industry reputation for additional financial gain.”
