According to a survey of financial service executives by RobertHalf, 89 percent are experiencing difficulties in hiring and recruitment, while 83 percent are concerned about losing top performers to other opportunities. Based on responses from over 1,000 executives, including finance directors, chief financial officers and chief operations officers in seven countries, the study found that competition for top talent is accelerating internationally, especially in the accounting, operations and finance fields.
"Institutions around the world need staff who can manage fundamental business needs, drive profitability and ensure compliance mandates are met. Building a team with these skills has become increasingly difficult as firms face situations in which the demand for skilled professionals often outweighs the supply" said RobertHalf's Neil Owen.
Recruiting difficulties have been most acutely in Hong Kong, where 95 percent of executives reported hiring difficulties.
Employee retention was also a strong concern in Hong Kong, as 93 percent of survey participants reported concerns about losing good employees.
American executives were far less concerned on the whole. A vast majority, 77 percent reported not being concerned about retaining good workers, while 84 percent said they did not experience difficulty attracting top talent. U.S. financial services hiring has been inconsistent in early 2013, reports Forbes, as the general growth of the economy has been slow.
Content provided by executive search organization, MRINetwork.