Rachael Brooks / 01 July
Virtual search and selection, a ‘new normal’
Activity is picking up now in some areas of the investment management market, as firms innovate and adapt their processes to continue to be effective in the ‘new normal’.
Activity picking up
Social distancing and restriction on movements stalled both recruitment and candidates seeking roles for several weeks. However, we’re seeing a pick up in roles now, with the entire process conducted by video conference.
Hiring activity is centred in a few key areas: investments, project management, product and investment writing. Clearly investing activity carries on, with an increase in volatility and asset allocation adjustments across asset classes. Product evolution continues as well, with a bit of pent-up demand coming to the market. The need to communicate with clients and prospects is even more critical during this period of market dislocation, supporting demand for experienced investment writers.
Hiring of programme/change managers is also picking up. These roles are designed to assist with all the changes that have happened as a result of the ongoing evolution in the way firms are now having to work. Likewise, project managers who can facilitate agile working or work from home (WFH) processes are also appearing.
Work will forever change
Hiring firms continue to hire, but clearly with considerable changes to the process. Video interviews have become the ‘new normal’. Firms are actively making hires and hiring based solely on a video-based process.
This has included delivering remote presentations by investment analysts, for example, where that is a key part of the selection process.
This experience is changing the way firms think about working and offices generally, as it has clearly demonstrated that many roles and entire companies can effectively do business remotely. This has allayed many reservations some firms had towards remote working, accelerating the previously nascent trend towards more working from home. As a result, some of our clients are actively considering making many roles 100%, or near 100%, work from home, even after the current crisis has passed.
The world continues to turn and the jobs market in the City is beginning to move again after weeks of deep freeze. It can be a success, with a bit of ingenuity and adaptability for candidates and hiring firms alike.