Mark Rhodes, Marketing Director, reed.co.uk

1. The Job Market Report
Banking, Finance & Fintech
8 September 2016
Mark Rhodes, Marketing Director
Brexit:
What happened next?
The UK
job market
Recruitment:
a customer experience
@reedcouk

2. 1960

3. 1995

4. Britain’s
favourite
recruiter.
Today

5. Agenda
Impact of Brexit
The job market
What top talent really wants
BREXIT:
WHAT HAPPENED NEXT?

6. of companies
not freezing
recruitment83%

7. In the ten weeks following
the referendum…

8. 509,705
Jobs posted to reed.co.uk

9. increase
in jobs posted
year-on-year8%

10. Banking
-23% fewer jobs
posted in Banking
*Performance in the 10 weeks post-referendum vs. same period in 2015

11. Financial Services
-5% fewer jobs
posted in
Financial Services
*Performance in the 10 weeks post-referendum vs. same period in 2015

12. General Insurance
-1% fewer jobs
posted in
General Insurance
*Performance in the 10 weeks post-referendum vs. same period in 2015

13. Accountancy
+13%fewer jobs
posted in
Accountancy
*Performance in the 10 weeks post-referendum vs. same period in 2015

14. Beware the warning signs

15. Banking, Finance
& Fintech
THEUKJOBS
MARKET

16. Banking & Finance jobs advertised
Source: Innovantage

17. Reed Jobs Index: Jobs posted, 2010 – present

18. Reed Jobs Index: Jobs posted, 2010 – present

19. Reed Jobs Index: Jobs posted, 2010 – present

20. Reed Jobs Index: Jobs posted, 2010 – present

21. UBS Bank Management Survey
“Of 61 ‘big banks’, 38% already have a Fintech partnership, a level that
looks likely to rise to 51% over the next year.”
Google searches: “Fintech Jobs”

22. 27
Candidate supply:
Average applications per job
Banking Financial Services
Accountancy (Q) Accountancy
Insurance
13 11
10 23
All-sector
22

23. Banking & Finance:
Expected salary vs. industry offerings
First time in 5 years that expected salary outstrips the salary offered by clients.
Over five years,
offered salaries
have decreased
~1%...
Expected
salaries have
increased
27%.

24. Attracting talent
Recruitment: a customer experience

25. A recruiment experience perceived by an
applicant as ‘poor’
3out of 5candidates are left with a negative view of
your employer brand

26. Won’t apply
for future
vacancies
Less likely to use an
organisation's products or
services again
Will share
negative
experience with
friends and family
25%
30%
26%

27. expect confirmation
of application
expect confirmation
within 24 hours
only
91%
70%
14% always receive
confirmation
15%hardly ever or never
receive confirmation

28. expect to be
informed of an
unsuccessful
application81%

29. NO CONTACT
in 5 days in 14 days
assume they’ve been unsuccessful
26% 90%

30. week 1 week 2 week 3 week 4application
78%expect to be at interview
within a fortnight
All-sector average

31. week 1 week 2 week 3 week 4application
85%expect to be at interview
within a fortnight
Banking & Finance

33. £29,145
Graduate starting salaries
Banking & FinanceAll-sector average
£26,546

34. Changing how we target graduate talent

35. Changing how we target graduate talent
Removing academic
qualifiers
Blind
CVs
Flexible
interviewing
One-day
assessments

36. Thank you
@reedcouk
0845 241 9293
reed.co.uk/recruiter