US Market Snapshot April 2020 – Hiring During Covid-19
There is no escaping it – the whole world is going through monumentally challenging times right now. While recruitment during a pandemic might seem a low priority to some, many US Banking and Financial Services firms are still focused on delivering their key recruitment strategies. With regulation and legislation naturally still in place, these firms still need to fill critical headcount within Compliance, Risk, and Legal departments, which is hopefully reassuring to many practitioners in the industry.
As the industry has been moving towards offering Work From Home (WFH) arrangements for some time – admittedly some firms are more advanced with this than others – the transition to remote working during Covid-19 has been more straightforward for Financial Services than it has been for many other sectors. In terms of recruitment, it has been evident over the last few weeks that the remote concept works for these firms’ hiring processes as well.
“Our focus has always been on recruiting the highest calibre individuals into our firm and the current situation with Covid-19 does not change our approach. We are, however, working with Danos Associates to adapt our hiring approach in this new virtual work environment”, Chief of Staff, Legal & Compliance, Global Banking Group.
Despite the current situation, critical hires across Compliance, Risk, and Legal are essential to businesses. Hiring managers have a clear sense of their talent acquisition needs and are proceeding with their critical hiring strategies, with the hope that when we emerge from this period, they will still have secured the best talent for their teams, despite the social distancing restrictions.
As a headhunting firm that specialises in Compliance, Legal, and Risk within the Banking and Financial Services industry, we are busy supporting those clients who are proceeding with their hiring strategies. We have successfully adapted our methods to support virtual recruitment and are helping to guide both clients and candidates effectively through the hiring process.
We are finding that our ‘bird’s-eye’ perspective on hiring trends across the industry has been useful to both clients and candidates alike during this period, as hiring managers figure out hiring strategies for the coming months, and candidates plan their next career move. We know what companies are looking for, where the talent is, and what it will take to acquire the best talent. This knowledge is paramount for any economic climate, but especially when we are all operating in these unprecedented times.
In our position we are well-placed to find you the best talent. But, importantly, we can also advise and support you with virtual recruitment, hiring planning/strategies, and general market intelligence on the trends that we are seeing during this time.
Please contact me to discuss this further or to ask any questions about the changing landscape.