Despite the continuing reports of doom and gloom on our high streets, over in the square mile things are booming. City bonuses - that staple of tabloid news - are on the up and it’s a boom that’s not confined to the trading floors but is increasingly being felt in HR departments across the City. Digby Morgan's City manager, Dona Battat, elaborates:

"The last 12 months has seen an upsurge in activity across the sector and one of the more interesting observations is the fact that companies are finding it increasingly difficult to fill that specific HR role because their competitors are working correspondingly harder to ensure they don’t lose their senior HR talent to the opposition. A more sophisticated, strategic approach is necessary and this has seen a parallel rise in the use of retained search and selection expertise. The power of the ‘old boy’ network – which should never be underestimated – is being supplemented by consultancies working ever closer with clients to ensure that intelligent mid to long term HR recruitment strategies are being implemented.

"It’s no longer essential for recruits to have in-depth City experience as the financial services sector is now keen to consider, and even embrace, talented candidates from outside of its own industry – especially those from blue chip organisations in the retail, services and other sectors. Recruits from these new areas are offering financial services clients the sort of wider HR experience – such as organisational design and learning and development - that the City hasn’t previously majored on. However, bringing in fresh blood from outside the sector naturally presents its own set of challenges - not least the crucial one of culture and fit. Of course, it’s here where the best recruitment consultancies will earn their keep and ensure clients are insulated as much as possible from potential ‘issues’.

"A few final observations. Digby Morgan has also witnessed a genuine flow of two-way traffic between the management consultancies and their clients with consultants moving in house and vice versa – opportunities for everyone. And, if you’re an expert in graduate recruitment, learning and development or employee relations then the worlds definitely your oyster, as these are particularly ‘hot’ areas at the moment. Finally, the rise, and subsequent maturity, of the business partner model in the City has exposed a few gaps in the system. This has seen a corresponding resurgence and rise in the demand for HR generalists. What goes round comes round."

top