In a survey of over 6,800 people working in London’s financial markets, Hays, the leading recruiting expert, found that over three quarters (77%) of City workers aren’t concerned about their future job prospects following the general election. Nearly one third of all respondents (30 per cent) said they were confident or very confident about their career prospects. The report highlights that despite the uncertainty over which party or parties will form the next government City professionals remain positive.
Professionals working in finance, governance and regulatory functions within the City are most confident about their future. Over one third (34%) say they are confident or very confident about their career prospects. This mirrors the demand for compliance and governance professionals due to the continuing global focus on strengthening financial regulation. Those working in front-office roles were most worried about their careers post-election (29% were concerned about their job prospects). Those in operations, technology and change were equally disheartened, with only 5 per cent very confident about the future.
The survey also found that nearly half of City workers (46 per cent) did not see any impact to their roles following the election, stating they were ‘neutral’ about career prospects in the wake of the general election. This is despite key questions hanging in the balance, notably the UK’s future in the EU and greater devolution, which could have a huge impact on the City’s place as a European and global financial hub.
Mark Staniland, Managing Director of Hays London City, commented:
“The future is looking brighter than it has done for a long time for the financial services industry. Economic growth is picking up and the competition for talent in financial services is at its highest since 2006. Our survey highlights that this positive top-level picture is trickling down and the majority of City workers are not concerned about their career prospects following the election despite the uncertainty associated with it. There may be some upheaval to come but, having weathered the worst financial crisis in decades City professionals are largely unworried by the temporary uncertainty created by the election. Regulatory and finance specialists in particular have real grounds for optimism – whatever party or parties end up in government, tighter regulation is here to stay.”
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Hays plc (the "Group") is a leading global professional recruiting group. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Asia Pacific and one of the market leaders in Continental Europe and Latin America. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 31 December 2014 the Group employed 8,748 staff operating from 244 offices in 33 countries across 20 specialisms. For the year ended 30 June 2014:
– the Group reported net fees of £724.9 million and operating profit (pre-exceptional items) of £140.3 million;
– the Group placed around 57,000 candidates into permanent jobs and around 212,000 people into temporary assignments;
– 24% of Group net fees were generated in Asia Pacific, 42% in Continental Europe & RoW (CERoW) and 34% in the United Kingdom & Ireland;
– the temporary placement business represented 59% of net fees and the permanent placement business represented 41% of net fees;
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Colombia, Chile, China, the Czech Republic, Denmark, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Russia, Singapore, Spain, Sweden, Switzerland, UAE, the UK and the USA