Financial services sector ‘has recruited significantly this year’

The financial services sector has engaged in lots of recruitment activity this year, experts have noted.

According to Badenoch & Clark, organisations such as banks boosted their workforces “significantly” during 2010.

This, it said, would lead to the focus moving away from recruitment over the coming months and towards staff retention.

Lynne Hardman, executive director at Badenoch & Clark, said banks will be “intent” on ensuring that the “continued influx of opportunities onto the market doesn’t see their own talent leave”.

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However, she noted that demand for candidates to fill positions such as collateral and portfolio reconciliation roles is likely to go up in the near future.

Ms Hardman added that people with experience in transaction reporting could also become highly sought-after.

This comes after the Office for National Statistics reported that between August and October 2010, the employment rate in Britain was 70.6 per cent.

The unemployment rate for this period stood at 7.9 per cent.

Posted by Cameron Thomson