Investment management firms are striving to improve how they recruit specialized talent. Research has shown that many financial executives believe that the talent drought could seriously harm future growth. The scarcity of talent has allowed investment management leaders to stay ahead of the competition if they can land top talent. With that being said, here is a look at some challenges that firms face in regards to their investment management recruiting strategies.
The top talent identified by the investment management industry are constantly being recruited by companies from outside of the industry. If experts are in demand within a number of different industries, that will lead to a lot of competition for these special talents. Recruitment firms are under pressure to meet the needs of their clients. Many investment management companies use an accounting firm to help them with different projects. GoBuyside advises firms to identify experts who have a reputation for hiring top talent. Firms should choose a partner who can directly help them in their field. GoBuyside’s success is evident by the fact that they have more than 300 clients around the World.
The importance of diversity in the workforce has been an employment issue for many years. Inclusiveness is a more recent issue that many businesses are struggling to adapt to. In today’s current climate, companies must emphasize diversity and inclusion. GoBuyside recommends that companies find partners that have shown that they can create policies that promote inclusion and diversity. GoBuyside promotes diversity by having a large talent database that features people from all around the World who come from different backgrounds.
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The investment management sector is different from others because of the regulation requirements. The regulatory climate is starting to shift in many countries around the World. The regulatory environment often hinders firms and their recruiting efforts. Firms should make sure that their partners have a vision that aligns with their clients. A generalized approach to the recruitment search will lead to firms choosing from a short list of candidates.
It is a yearly challenge for companies to adapt to the evolution taking place around them. As the technology continues to evolve, workers will change their skill sets to meet the needs of what is currently in demand. Because of the technology sector, analysts predict that the investment management industry will be threatened over the next decade. Companies are now trying to add flexible workers to their team. Many of today’s employees have a hybrid skill set. Recruiting partners should help companies brainstorm ideas of new training methods that will help workers gain the flexibility to meet any need.