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Latest News - Confidence Returns To Financial Services Hiring (10/09/2009)

Thursday Sep 10

'Green Shoots' for Interims within Financial Services

Confidence returns to Financial Services hiring

Interim management provider Practicus has seen a significant uplift in the number of senior finance roles it has been asked to fill as banks begin to revive growth projects. The Financial Services team has experienced a 60% increase in demand for interim Project and Programme Managers, Finance Directors and HR specialists - one client, the Chief Operating Officer of an international bank, commented: "Since the positive results have been posted we are now receiving sign-off on change budgets, delivering on the time lost during the crunch."

As profits are once again being realised, banks have the renewed confidence to act and move forward rather than stagnate. It is still a buyer's market at the moment in terms of recruitment, but the banks are now actively looking at resourcing for more strategic, long term projects, as Mike Davies, Financial Services Director at Practicus explains: "They are now investing in HR transformation, IT infrastructure and larger Business Process Reengineering initiatives rather than just straight forward cost reduction or rationalisation. A number are also focusing on the integration of acquired businesses to prepare them for the coming upturn in the rest of the economy. Financial services organisations do not normally retain all the talent in-house to deliver these change programmes, especially due to the recent spate of redundancies, so they're turning to specialist interim management providers to kick-start their growth programmes."

Source: www.practicus.co.uk - 18 August 2009

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