“Recruiters and hiring managers are currently faced with a collision of opposing forces in the jobs market. This includes navigating the rising number of oversubscribed roles and increased competition among applicants. As evidenced by today's jobs data, these trends are unfolding across multiple sectors, resulting in a 3.8% decrease in job vacancies between Q2 and Q3 of this year alone, and a 14.4% drop YoY. At eFinancialCareers, we are seeing that a number of the major banks are increasing their hiring in Q3 which bucks the overall trend.
"There's no escaping the fact the economy is still facing uncertainty, especially in the run up to the Labour Budget at the end of the month, with wage growth easing to the lowest level in more than two years. There couldn't be a more fitting backdrop to this week's International Investment Summit to highlight the need for renewed private and public spending commitments to kickstart growth.
"In the face of increased pressure and amid a cooling jobs market, candidates and job seekers are understandably defaulting to recruiters they can trust as well as firms that possess networks to complement their market knowledge.
"Our global research into the financial services talent marketplace highlights how working with a top recruiter can significantly impact and shape a candidate’s career journey. In the current climate, candidates are placing high value on personalisation, responsiveness, and clear communication throughout every stage of the process, and recruiters who can offer a tailored, attentive & service-led approach truly stand out.”
