There has been a ‘high-pressure’ situation brewing in the recruitment market in recent months – the well-known demand versus supply conundrum. The global pandemic has created the perfect storm with regards to the supply of quality mid-senior candidates with the relevant skills required for a job in financial services and companies are facing difficulties finding talent to fill roles at that level.
A major component of this situation is that many individuals have been working from home for well over a year now. They’ve built a routine around working life and personal life and, in some cases, this means no commute, more sleep and more energy, while others are working longer than ever before – however, despite this, it is still a great outcome for them. Why? Well, in a pre-pandemic world, a lot of professionals would put work sacrifices before their personal life or family (dare we say it!) as it was simply the office culture. For many people, the pandemic has really brought to the forefront what is that they value important – and that is their own lives outside of work and their families. Flexibility and remote working allow employees to be physically present in the home to support other family members, which benefits the employee both professionally and personally.
Now from a recruitment perspective, this is having a major impact on the availability of professionals, particularly in financial services. Normally, individuals are looking for new challenges, career progression, or simply keeping an eye on the market for interesting opportunities, but with this remote style of working, they are content in their current working environments and enjoying their time at home. Most people are waiting until offices reopen, to assess their employer’s working from home policy (with many companies still formulating or yet to create such policies) and explore the working models available to them post pandemic – both with their current employer and perspective others. In addition to this, constant mixed messaging in the media around Covid-19 developments and the outlook for the future has created huge uncertainty for individuals whereby they don’t want to take the risk and start another job with an employer amid the unknown.
The traditional ‘passive’ candidate is simply not looking right now (September 2021)! Therefore, it can be argued that the ‘best’ candidates that would ‘normally’ be looking are not in the market at this time. They are waiting for this storm to pass and then they’ll reassess their life plans and take action thereafter. However, this storm could be around for the remainder of 2021 and into Q1 2022…
THE SOLUTION? INTERIM MANAGEMENT PROFESSIONALS
With a reduced number of quality candidates on the market available (and by quality, we mean a technically qualified professional available to take on the role on a permanent basis), interim managers are the perfect solution for companies facing challenges in recruiting talent. Interim professionals are highly qualified, extensively experienced individuals who can join companies on a short-term, long-term or project-based contract. They can manage a period of crisis, change or transition, and can replace, supplement or coach others depending on a business’s requirements. Employers can hire elite professionals and consultants quickly and confidently (within days or weeks) at competitive rates without foregoing on quality or incurring administration and additional costs associated with hiring on a permanent basis.
Coopman Search and Selection is a specialist financial services recruitment firm that sources individuals for highly technical, regulated roles for our clients and over the past 18 months, we have been providing interim solutions in business transformation, accounting, risk, compliance and audit across a variety of different sectors including insurance, asset and investment management, banking, fintech and aircraft leasing. We provide interim professionals to clients in Dublin, UK and Europe through a vehicle which is highly successful, resulting in our clients acquiring the technical expertise to drive results for their businesses at highly affordable rates in the market. Interim management is the solution to the perfect storm!
To find out more about our interim management offering, to get insights into the financial services market or to discuss your company’s recruitment needs, contact Director and Co-Founder Mark Fallon on mark.fallon@coopman.ie, +353 1 211 8333 or +44 204 529 2608.
Alternatively, you can download our brochure ‘Interim Management: Finding You The Solution’ for more information.
