Results of a Compensation and Workforce Trends survey that captured responses from over 1,150 hiring decision makers, managers and above, revealed how employers have coped with the COVID-19 pandemic regarding talent management.
According to the survey, 70% of organisations who have furloughed or laid off employees during the COVID-19 pandemic will back-fill the roles that were eliminated, with nearly 9 in 10 of those saying they will do so in less than a year.
Making decisions about furloughs or lay-offs and reprioritising what skills are needed for a firm is not always easy, often hard decisions need to be made. During this time of uncertainty interim hiring can provide a flexible solution for managers. Danos Consulting can onboard contractors within 48 hours, with full compliance and referencing checks, completed to tier one financial banking standards, providing a quick and expert solutions when needed.
According to the report, during the COVID-19 pandemic it was reported that adaptability/creativity, critical thinking/problem solving, and financial management have become essential skill sets for firms to have. To help meet the increased need for specific skill sets, 45% of respondents indicate that their organisation is upskilling current employees, followed by 35% who are reskilling current employees to be redeployed. However, over 1 in 4 decision makers are looking outside of their organisation to meet the need for increased skills – 28% are bringing in consultants and 27% are bringing in contingent workers. Danos Consulting has an established bench of over 1,500 Consultants & Interim Contractors, these experienced practitioners can be deployed quickly, and at affordable costs.
As all types of professional industries adapted to remote working, the survey revealed that 37% of respondents’ organisations previously opposed flexible and/or remote work, but now promote it. The change in attitude is helping them plan for the future with more flexible work options for employees. The majority of the Danos Consultants and Contractors are currently working remotely. We work with our clients to ensure that new hires are successfully onboarded. Our close candidate management during the selection and onboarding process continues through the assignment, enabling us to provide reliable support when our clients need it most.
“We have used Danos Consulting many times to hire previously and trusted their recommendations on contractor hiring. The onboarding of a candidate was achieved within 48 hours as requested and we are pleased to have had the extra onboarding support from Danos at this difficult time,” Head of Compliance, Asset Management.
“A prime example of how recruitment in an ever changing and dynamic environment can still be executed efficiently and swiftly. Danos Consulting team facilitated a streamlined and adapted recruitment process to support the financial services industry being thrust into uncharted territory, whilst still meeting the high standards required by their clients. Very impressed by the team’s work ethic and diligence in making ‘virtual’ recruitment an entirely seamless and successful experience,” Compliance Consultant, Private Equity.
2020 was not been a typical year for anyone, it has shown how resilient professional organisation can be. It is positive to see that the market is looking optimistic about the future, and that hiring will maintain all round and grow in some areas. Danos Consulting is a specialist financial services consultancy firm. With an unparalleled talent network of Compliance, Risk, and Legal experts, we provide experienced, first class practitioners. If you are looking for a flexible solution contact Katherine Lord, Partner and Head of Danos Consulting | + 44 (0) 207 010 1153 | Email: firstname.lastname@example.org.
Source: 2021 Compensation & Workforce Trends Survey (October 2020).