Where is the ‘new talent’?

Women in Finance: Have we gone too far?
March 28, 2017
Is money everything?
March 28, 2017

by Serena Chow
This is the question we are asked most frequently by our clients.
Invoice finance is an industry that has been built up by career experts who have worked tirelessly to make it the market that it’s become. But where is the next generation of talent that needs to maintain this industry, improve it and keep it going?
After the financial crisis, banks cut their new talent budgets and the tap still hasn’t been turned back on, which has meant that competition for junior talent is phenomenal. RBS recently stated that 49% of employers don’t take on apprentices or graduates, which is a highly alarming figure. In addition, with the emergence of the Fintech sector, many from Generation Z are more inclined and attracted to the Œgoogle-esque culture, making banking less and less attractive.
It’s becoming more and more difficult to attract, retain, and engage junior talent for our industry. Results from our 2016 annual Perception Survey suggest that there is no one main motivator behind why people move, ­ it’s now a balance of all things, which means that employers need to now invest more time, money and dedication in keeping their new talent happy, especially in an industry where they can spend time and money training them up for them to move on and share their new skills with a competitor.
It’s one of the worst kept secrets in this industry and unfortunately I can’t offer a solution to this problem on my own. It’s going to take everyone to develop new skills, create new training programs and ultimately take the risk on what will be the Invoice Finance stars of the future.

For further information please contact Serena Chow on 0161 495 3638 or email schow@crsltd.info