We’re all hearing about the doom and gloom in the square mile but what’s happening at the sharp end with regard to HR recruitment. Dona Battat from Digby Morgan’s City team reveals the reality from today’s front line.

Whilst there’s less volume of work with some of the large financial institutions there’s an interesting trend that HR hiring is becoming more strategic in nature. Clients are moving away from growth for growth's sake and instead focusing on business-critical hires – usually at a senior level or for those with responsibility for specific client groups or disciplines.

Hiring processes are taking longer as candidates are naturally becoming more discerning and want to be absolutely certain of what’s on offer before they make a move. Decisions are taking longer, they want to meet more people and they’re questioning everything in more detail.

The Investment Banks in particular have slowed down in terms of volume but the broader financial services sector and the legal and asset management sectors remain very positive.

As its gets tougher to attract the top talent, clients are turning increasingly to advertising and search - they appreciate that candidates are more cautious and generally thin on the ground. Advertising is being seen as a great way of increasing the employer brand in the marketplace and ensuring that they are seen in the best possible light and search is a good way of covering the market comprehensively and ensuring that the best possible people are attracted.

Finally, clients are increasingly considering candidates with transferable skills from outside their own industry as their direct competitors are doing everything possible to increase retention. So, rather than taking second-best, they still want to select the top talent - regardless of where it comes from.

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