From the digitization and non-traditional competition, to regulatory changes and market headwinds, leaders in financial services have to balance the need to compete today with the need to transform to meet the talent and competitive realities of tomorrow.
Throughout 2022, Right Management supported financial services leaders in evaluating current and future readiness of their teams, fostered the growth of key leaders, and assisted the transition of those who were not part of the organization’s future plans.
“Losing my job felt a bit like losing my identity. I lost my routine, my community of work colleagues, and my confidence. Right Management helped me regain my confidence and develop a plan that worked for me.”
“I know that companies have laid people off and left them out to dry. I’m very thankful I didn’t have that. And, investing in outplacement sounds like not just the right thing to do, but the only thing to do.”
Directly after separation, 68% of financial industry candidate's felt prepared for a job search.
78% of candidates would still recommend their previous employer as a place to work, and have an overall positive view of the company.
After completing their program with Right Management, 87% of transitioned employees would still purchase and recommend their previous employer's products.
Coaches noticed that most candidates were sad to be selected, but not surprised given market conditions in the financial industry.
Candidates appreciated the check-in from Right Management and they "felt like their employer wanted to ensure their wellbeing."
Candidates felt like the notification process was robotic and failed to address their questions.
Recent headlines surrounding the stability of the banking and finance industry is worrying financial candidates, and is causing many of them to consider switching industries.
Many candidates worry that their compensation at a new job will be much lower than what they were previously making, mostly due to specialized industries or skillsets.
There is an increasing demand for professionals experienced in cyber technology. Especially for the financial servcices industry.
Candidates Referred: 1705
Candidates Started: 1291
Candidates Referred: 958
Candidates Started: 644
Candidates Referred: 247
Candidates Started: 208
Response Count = 8,968
TouchPoint Score Count = 3,921
As global outplacement leaders, we take our candidates’ experience seriously. At the end of each coaching touchpoint, event, seminar, etc., we randomly sample an externally valid population of candidates to determine satisfaction and uncover areas for improvement.
This data is updated monthly and reflects 2022 responses.
To support the Financial industry, we recommend the following:
