A third of wealth management organisations recently surveyed say they expect to hire more employees this year, while two-fifths expect to keep main staff at current levels, according to research from Super Recruiters.
However, none planned to downsize, although 16% expected to replace some roles with technology.
The expected roles most in demand for 2020 were sales and risk compliance, followed customer/member engagement, and operation roles.
Sally Humphris, Super Recruiters executive director, said when hiring for these roles, cultural fit was considered the most important criteria by c-suite leaders, followed by proven experience and technical skills, however, there were no responses for qualifications or remuneration.
She also said job seekers are increasingly reporting being disheartened by the automation of recruitment in our industry.
“We are hearing an increasing number of complaints from skilled people applying for roles and not getting a response – even when they have all the skills and experience,” Humphris said.
“The reason why they – in fact most of us – don’t get far is that most of us don’t understand how the job search algorithms, those digital search matching terms used in online job applications, actually work.
“A job ad can elicit hundreds, even thousands, of responses and many of the applications will be unsuitable. But all must be digitally or manually screened by a recruiter to identify a shortlist of appropriate candidates.”