News

The exodus

Voluntary turnover in the finance industry has risen steadily each year since 2010 and retiring baby boomers are a leading cause. As baby boomers leave, companies are struggling to recruit for higher level positions.

In a Robert Half survey of more than 2,100 CFOs, 38% reported that retaining valuable employees is their greatest staffing concern, while more than half find it challenging to find skilled candidates for senior level positions.

Finance employers need staff with both functional expertise as well as outstanding soft skills such as interpersonal skills, communication, and collaboration attributes which baby boomers more naturally tend to possess.

What does this mean for everyone else?

Employees with specialist skills and professional credentials who can also demonstrate that they possess sought-after soft skills will be able to stand out. Employees in the mid-stage of their careers are starting to recognise gaps and take advantage of openings for more senior positions with more responsibility and notably higher salaries.

Well-rounded employees may expect to rise to senior roles more quickly and then fast-track their way to management. Hot senior jobs for 2014 include anti-money laundering specialists, financial managers, and CFOs.

Adapted from: http://www.recruitingdivision.com/industries/finance/