Pressure from national and multinational regulators has left 58% of projects employers with plans to hire in the coming months.
The results of the Robert Walters Hiring Intentions Survey also revealed that employers are seeking professionals across a wide range of levels, with mid level (47%) being the most highly sought after. 41% plan to recruit junior staff and 27% plan to recruit at management level.
In light of the positive state of the UK economy, there is a widespread expectation among employers that the second half of the year will see strong business growth. In order accommodate the increase in business, employers are looking to bring new staff on board.
The high demand for mid-level candidates can be attributed to the number of new regulatory programmes launching to respond to the latest round of demands from national and multi-national bodies. These programmes have now moved though their initiation phases and employers have been hiring intensively as they mobilise for delivery.
"In particular bank ring-fencing, MiFID2, FRTB and front office controls have been driving requirements for business analysts and project managers at the Assistant Vice President and President level," James Murray, associate director, Robert Walters.
In particular bank ring-fencing, MiFID2, FRTB and front office controls have been driving requirements for business analysts and project managers at the Assistant Vice President and President level
Anticipated growth of the business has been cited as the biggest factor behind most employer’s recruitment strategies (71%) followed by headcount restrictions (56%).
The results also showed that employers are continuing to favour recruiting permanent employees in favour of contractors with 47% of those surveyed saying they would be primarily advertising permanent roles. Just 3% said that they would be looking primarily for contractors; a fall of 3% compared to the first half of the year.
"The decline in demand for contractors can be attributed to a push by employers to retain professionals on a permanent basis, offering bonuses as an incentive. However, the number of permanent candidates remains short, with the highest level candidates still attracted to the high salaries offered in the contract market," James Murray continued.
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