Financial firms to continue hiring despite Brexit

Research from recruitment company Hays has shown two-thirds of financial firms will go ahead with their recruitment plans in 2018, despite Brexit.

The research surveyed more than 900 UK employees and employers from the banking and finance sectors.

Driver

According to Hays, regulatory changes are the main driver of demand for new staff, with employers looking for knowledgeable data and analytics professionals with cyber security skills and IT infrastructure expertise in particular.

The research showed competition for talented staff is increasing, with more than 60 per cent of businesses facing moderate and extreme skills shortages this year.

Hays is now urging businesses to take action to tackle skills shortages, suggesting employers offer a competitive salary and benefits in order to attract talented staff.

Promising

Commenting on the research, Hays Managing Director Mark Staniland said: “It’s promising that despite market uncertainty, financial organisations are continuing to hire as regulatory changes come into play and digital advancements are creating the need for organisations to constantly adapt and remain up-to-date.”

He added: “However, competition for talent is strong and persistent skills shortages have the potential to limit productivity, growth and innovation – all of which could harm the City’s ability to remain competitive on a global scale.”