2 Comments 2 Commentsby Susan Edmunds
Recruitment firm Hays has released its latest quarterly report, which shows the pool of quality candidates in the finance sector is diminishing and available candidates are being snapped up quickly.
Hays managing director for New Zealand Jason Walker said the firm had a number of clients who wanted to hire financial advisers.
“[They] are always on the look-out for really strong business development financial advisers either in the life and risk adviser side as well financial advisers that also deal with investments and wealth. Good ones are hard to find.”
He said clients were looking for AFA and RFA advisers.
The increase in demand for financial advisers had built up steadily over the past two years in both private wealth management and KiwiSaver portfolio management roles, he said.
Demand was also strong in Australia although there, mortgage advisers were the most sought after as low interest rates generated demand for home loans.
Hays' report on Australia noted an increase in the educational requirements for adviser job-seekers and said the candidate’s cultural fit with an organisation was becoming more important.
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1. Employment agencies are full of inexperienced people – just ask them what experience they have in your field? How long have they been working in their current position – less than 2 years – no surprises there? Ask them to ask the same question four different ways – (example – business development, ask them to ask for that information from a candidate in four different ways not using the same words more than once) – can they do it?
2. Vetting CV’s easy – in the regulatory market if a candidate can’t put together a CV that is short, comprehensive and readable they aren't worth bothering with anyway – they will never meet regulatory hurdles.
3. Get rid of the notion that good people are “young”, “colourful”, and “fun”. Good people who generate lots of business are more likely to be “grey”, “and a “bit boring”.
Ask your best customer if they would like to talk to one of your employees at 3 am in the morning. No? Well why advertise a position where the employee is required to be available 24/7.
Oh and lastly if you really want to get the right candidate. Advertise the package - you are advertising for someone who talks and walks money. It does matter - good candidates don’t waste their time and might be tempted by a good offer; isn't that what you are looking for after all!