Tag: AMS

Financial services industry struggling to recruit

According to a whitepaper by global workforce solutions provider AMS, a solid commitment to Environmental, Social, and Corporate Governance (ESG) will aid financial services firms in securing sought-after talent amid skills shortages.

In its latest whitepaper, Why the ‘S’ of ESG may be the rose between two thorns for retail banking, its recommended that employers across the banking and insurance sectors strengthen and promote their social credentials if they are to harness the power of ESG to build their employer brand.

We know that Gen Zs are allocating more importance to social responsibility and want to work at companies that align with their values. It’s therefore becoming increasingly important for businesses put their money where their mouth is and ensure that ESG forms the foundation of the way they do business.

The advice comes following research from the Financial Services Skills Commission, which found that almost a third of employers across the financial, professional and business services sector are struggling to recruit due to widespread skills shortages.

Janine Chidlow Sector Managing Director of Retail Banking & Insurance at AMS commented: “At a time when acute skills shortages are impacting access to talent, both jobseekers and existing employees increasingly want to find a purpose in life and are seeking out employers that share their values. That might be a commitment to sustainability, philanthropy, or social impact. Against this backdrop, the ESG framework unsurprisingly has an impact on talent attraction and retention within financial services.

“Candidates may not be seeking an ethical employer in the traditional sense any more – now they’re looking at the social perception of an employer brand and what they are committed to in terms of achieving carbon neutral status or supporting social mobility and diversity. The war for talent is now raging once again, and those businesses that are not demonstrating flexibility, care, innovative thinking, and evidence that people matter will lose very quickly. For talent strategists, a commitment to ESG is not just a vote winner for hiring great people: it’s a brilliant tool in your sales armoury too.”

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Talent solutions industry supports economic recovery 

The winners of the 2021 TIARA Talent Solutions Awards Europe were revealed in a glittering live ceremony attended by over 250 senior leaders of Europe’s leading Talent Solutions, RPO and MSP companies. 

The Awards evening also saw the presentation of a very special award – the first TIARA Talent Solutions Europe Lifetime Achievement Award, which recognises a leader who has made a long-term and significant contribution to the industry. This was presented to Rosaleen Blair CBE, Chair of AMS. “It is hard to understate Rosaleen’s contribution to the sector. From AMS’s relatively modest beginnings in 1996 to a global leader with over 4,500 employees, operating in 100 countries, Rosaleen has been at the helm” said Ken Brotherston, Managing Director of TALiNT Partners. 

Following the presentation of the Lifetime Achievement Award, 11 winners were crowned, with seven highly commended finalists, which highlights the high standard of the entries this year. 

“In only our second year, our Talent Solutions Awards Europe have established themselves as the pre-eminent recognition campaign in the sector and are a perfect platform to showcase the best work the sector has to offer. All of the finalists shortlisted for the TIARA Talent Solutions Awards Europe are an inspiration to the talent solutions sector, from nimble, fast moving new scale ups looking to re-imagine what is possible, to the world’s largest and most successful players delivering game changing work for their clients and a range of mid-market operators with a clear focus and high levels of agility. They all showed why they are so important in helping their clients find and keep the people they need” commented Ken Brotherston, Managing Director of TALiNT Partners. 

“The quality of entries across each category was very high, with the winners’ entries being nothing less than outstanding. This makes a TIARA Talent Solutions Award a powerful and prestigious endorsement.”  

The judging process for the Awards was designed around the varied and complex demands of employers based on key performance metrics, case studies and testimonials. The 2021 judging panel brought together some of the leading practitioners in talent acquisition from organizations such as Balfour Beatty VINCI, Rolls-Royce, NatWest, MindGym and Tetra Pak.  

“The Talent Solutions sector has shown itself to be resilient and innovative throughout the pandemic. Our finalists have shown that they can not only respond to rapidly changing client requirements, but in a way that is commercially viable for their own sustainability and long-term success. The sector has a big part to play in how we recover from the pandemic, and I am excited in what the future holds.”  

Reed Talent Solutions was crowned the overall winner and received the Talent Solutions Provider of the Year Award, having also picked up the Candidate Experience Award and the Long-Term Partnership Award – Enterprise. Judges praised Reed Talent Solutions for “excelling and having a positive impact across each key area of service delivery.      

The TIARA Talent Solutions Awards Europe 2021 campaign was supported by headline sponsor Cornerstone OnDemand and award sponsors eTeam, Sonovate, giant group, iCIMS, Parasol, Horsely Analytics and Nétive.  

The full list of Talent Solutions Award winners and highly commended finalists is as follows:   

The Best Early Career Initiative 

  • Winner – Bright Network 
  • Highly Commended – AMS 
  • Highly Commended – GTI Recruiting Solutions 

The Horsefly Employer Brand Award 

  • Winner – Hays Talent Solutions 
  • Highly Commended – Cielo 

The Parasol Candidate Experience Award 

  • Winner – Reed Talent Solutions 

The Nétive Diversity & Inclusion Award 

  • Winner – AMS 
  • Highly Commended – Bright Network 

The Cornerstone OnDemand Best Use Of Technology Award  

  • Winner – Guidant Global 

The Sonovate Best Talent Solutions Firm to Work For 

  • Winner – AMS 
  • Highly Commended – Join Talent 

The eTeam Client Service Award 

  • Winner – Lorien 
  • Highly Commended – Gattaca 

The Giant Group Best New Talent Solutions Provider 

  • Winner – Join Talent 

The iCIMS Long-Term Partnership Award – Challenger 

  • Winner – Page Outsourcing 

The iCIMS Long-Term Partnership Award – Enterprise 

  • Reed Talent Solutions 
  • Highly Commended – Gattaca 

The Talent Solutions Provider of the Year 

  • Reed Talent Solutions 
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The combination of the large-scale downsizing of recruitment teams last year and the huge hiring surge this year has led to a significant increase in the number of companies using project RPO.

For a report commissioned by talent outsourcing and advisory firm AMS, Aptitude Research surveyed 342 TA and HR leaders at director level and above to understand the key drivers of project RPO.

Some 42% of survey respondents said needing help to face a hiring surge was the biggest reason for using project RPO. A similar percentage (40%) reported that their recruiting teams had been downsized in 2020.

“The challenge for many employers globally is that hiring hasn’t just increased slightly, many TA teams are dealing with significant spikes in hiring, while doing so with fewer internal resources in a highly competitive talent environment,” said Maxine Pillinger, Regional Managing Director for EMEA at AMS.

“We’ve been working with our RPO clients globally on a project basis for years, but now we’re seeing an increased level of demand for a partner to help them meet their short-term demands while they still support the ‘business as usual.”

Multiple secondary drivers

The second largest driver of firms’ decisions to opt for project RPO was reducing the time taken to fill vacancies, with 75% responding that with project RPO they were able to reduce their time to fill to less than 30 days.

Expanding into new markets (31%), supporting high growth (27%) and having fewer recruiters and resources (23%) were the other main drivers.

The report outlined that while traditional RPO partnerships often lasted more than two years, project RPO engagements are most commonly for less than six months, and for more than 70% of firms they are for less than six weeks.

But as is outlined in a new TALiNT Partners white paper, this lower level of commitment, combined with the current high demand, has led many RPO providers to become increasingly choosy about which projects they take on.

The report, entitled: The art of saying ‘no’ and the rise of ESG’, presents insights from an event co-hosted by TALiNT Partners and Cornerstone-On-Demand, with views from leaders at Gattaca, IBM, Lorien, Reed Talent Solutions, PeopleScout, KellyOCG, Hudson RPO, Green Park Interim & Executive Ltd, Aston Holmes, Armstrong Craven, Manpower Group Talent Solutions, LevelUp HCS, Datum RPO, Group GTI, RGF Staffing, Page Group, Resource Solutions and Comensura.

Providers get picky

A number of guests at the event said the high level of demand in today’s marketplace meant they were having to push back on some clients, either turning down work or tempering expectations about when projects could start.

Joanna Fagbadegun, Sales Director at Lorien, said: “The market is exceptionally busy, especially on the tech and professional side. We’re starting to notice more urgent requests from customers looking for recruitment team augmentation or a head to manage workload. Sometimes the ask is just for a price rather than a detailed proposal, which can indicate they may not have a clear idea of exactly what they need, just that they know they need help”.

Several providers said the sector’s own talent shortages have become a barrier to taking on all the work currently on offer. “The market challenge is always quality of workers in recruitment to support growth and enable the flexibility for new offerings. We haven’t learned from past downturns and upturns in demand,” said Adam Shay, Global Marketing Director of Resource Solutions. Nick Greenston, CEO of Retinue Talent Solutions agreed, adding that the industry has focused on growing outsourced juniors instead of attracting and retaining more experienced talent.

Photo courtesy of Canva.com

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