Activity in mass hiring has not been as buoyant for 2016 so far, and the typical race to get the best talent that usually consumes our diaries in February & March has not really transpired as expected.
But we have seen it all before of course; the recruitment industry is in essence a peaks and troughs business. However, lets think about this year and the obstacles that may be standing in the way of your busy year ahead.
To begin with, January was by and large a very slow month across the board (this is normal as we all recover from our Christmas binges and excess time off) , but even more prevalent this year was the severe ambiguity in the expectations for where senior figures expected the brunt of the work to be. There are always the exceptions of course; Regulation was the talk of the town. Was this because it genuinely was the buzz of 2016? Or because most knew it was the only sure thing that they would be working on in 2016?
MIFID II, PSD II, CSDR, CRDIV, UCITS IV, AIFMD, BRRD, SMR amongst others.
Now most of these are either half way through their cycles of regulation or upcoming. They will and have had numerous hires or would be hires going through the mill at present and moving into Quarter 2 the safe money would be on even more bulking out of the teams as the behemoths of the FS world begin to tune their teams to deliver the imperative projects of 2016.
3 challenges we face that will surely dictate the market for the remainder of 2016.
None of this is overly threatening but with the market as precarious as it is, it certainly would not bode well for this year’s recruitment plans.
In summary, the market should always be looked on with positivity due to being at the arguable epicentre of the financial world but taking note of the above topics would serve well to manage and target your opportunities with a little more thought this year. I expect this year to continue in peaks and troughs alongside it being an interesting journey. Having the right people at your side to understand your true needs will be crucial in making the right decisions.
For opportunities across Change management including Operations, Finance, Risk and Compliance be sure to contact our team at Morgan Mckinley to help navigate the challenges of 2016.