London, United Kingdom (PressExposure) October 02, 2007 -- Despite the recent market downturn recruitment activity for banking HR jobs is boiling over, especially for senior HR roles, says new research from City HR recruitment consultancy Joslin Rowe.
"One of the strongest indications of the strength of the HR jobs market is the level of banking HR jobs we are asked to recruit for," reflected Kris Sasitharan, Associate Director of Joslin Rowe. "In the last two months a significant proportion of our HR jobs training and development roles, as well as heads of recruitment. Additionally, the demand for graduate recruiters at all levels continues - clearly an indication that City organisations are increasing their graduate and MBA hires. To see this many roles of this calibre being recruited for over the summer is extremely unusual. It is even more marked if you compare activity to 2006 when it was typical that senior vacancies accounted for just 10% of the total number of banking HR jobs on the market. Put simply, it is a very clear sign that companies are keener than ever to drive their businesses forward and recognise that they must invest in their HR functions and hire the very best people in strategic roles to do this."
Other Joslin Rowe data shows organisations hastening their recruitment processes in order to fill their banking HR jobs before candidates are snapped up by competitors.
"The average time to hire, which is defined as the period from vacancy notification to when someone completes their notice period and starts in that new role, has dropped from 111 days earlier this Spring to just 61 days now. This is nothing short of phenomenal. One of the consequences of this frenzied activity is a big increase in multiple offers and rising salaries for our strongest candidates, as firms compete to hire," said Sasitharan.
Another trend the Joslin Rowe research shows is a 23% increase in the number of first time HR roles being recruited for in the City, which has been driven by the growth and success of private banks amongst others.
"It really is good news for city and corporate HR professionals who are considering moving from their current employer. I think there was some concern that the news of recent mergers and the sub prime dip might cause some banking HR jobs to 'disappear' but these clients are still recruiting and we have seen no signs of it impacting," concluded Sasitharan.