Sales over service: banks demand target beaters

Growing competitiveness in the financial services sector is pushing recruitment demand away from service-oriented advisers to those with a “demonstrated ability to sell”, according to Hays senior regional director Grahame Doyle.

Commenting on the latest Hays Quarterly forecast for the banking sector, Doyle said planners with an “elevated level of sales rather than service skill are becoming sought after in an ever more competitive market”.

He added: “Those planners with a demonstrable experience in achieving definite targeted sales results are now considered an asset by financial services organisations.”

Doyle also predicted a recruitment “hot spot” would emerge over the next 12 months for advisers “at the 80K level and above, with five years experience”.

“Quality candidates are entering a job-rich market currently, in which they can pick and choose from among the prospective employers.”

At the same time, he said, the growing demand is placing a “bigger need on employers to develop their own unique selling point” to attract candidates in this bracket.

“An employer these days needs to find something that will stand it apart form the competition in encouraging a potential recruit to sign on.”

He said firms need to “make sure they are offering an attractive overall package, and not just financial, although salaries too look likely to increase with demand over the next 12 months”.

“It’s now about what career path the firm is offering to a planner, what benefits it is offering, how attractive its organisational culture is, and how strong is its brand.”