Retaining talent proving tough

Robert-Half/Financial-Services/financial-planning/

7 April 2016
| By Nicholas |
image
image image
expand image

Australian financial services sector employers are struggling to hold onto staff, with almost 60 per cent of office workers on the hunt for a new job, a survey reveals.

Data from recruitment consultants, Robert Half, found that employment growth has created an employee driven market, with businesses being forced to act swiftly to secure top candidates for roles.

Robert Half senior managing director Asia-Pacific, David Jones, said that two-thirds of Australian chief financial officers planned pay increases for those in the financial services and accounting roles over the course of 2016.

Jones said that many companies reported that they were willing to increase salaries for "existing top employees" and for candidates who possess specialist and hard to find skills.

"Organisations are increasingly making an offer within 48 hours of interviewing candidates to secure top talent," he said.

"In order to not lose top professionals to competing organisations during the hiring process, companies with clear recruitment criteria and who can act quickly when they find a match, have a definite hiring advantage.

The survey found that while securing a salary was a key factor for the 58 per cent of office workers who said they were likely to look for a new job within the coming months (37 per cent), 28 per cent said the opportunity of a better work-life balance would prompt them to leave their current job.

A further 12 per cent said they would switch jobs for career advancement, while seven per cent said their relationship with their boss and or colleagues would drive them towards the exit.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...

1 week 3 days ago

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

1 month ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 month 1 week ago

AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies. ...

2 days 19 hours ago

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago. ...

1 week 5 days ago

The inquiry into the collapse of Dixon Advisory and broader wealth management companies by the Senate economics references committee will not be re-adopted. ...

2 weeks 5 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Powered by MOMENTUM MEDIA
moneymanagement logo