Claymore Partners Survey Reveals That Search Firms Still Account for 70% of Executive Hires for Financial Service Firms
Greenwich, CT, December 07, 2007 --(PR.com)-- Financial service firms reported that 70% of their executive hires in 2007 were obtained via third party search firms. About 36% of executive hires were from retained executive search firms, 31% from contingency search firms, and 3% were from recruitment process outsourcers. Employee referrals accounted for another 11% of executive hires in 2007. Despite the emergence of many talent acquisition channels, executive recruiters continue to dominate the executive level recruitment market for the financial service industry.
However, talent acquisition channels are significantly different for middle management and front line workers for financial service organizations. The predominant channels at this level are internal corporate recruiters at 25% and employee referrals at 23%. The corporate web site also accounted for about 16% of middle market and front line worker hires in 2007. Interestingly, niche job boards are almost equal to general job boards at 8% and 11% respectively at this level.
The top talent acquisition challenges for financial service firms in 2008 was clearly finding top quality talent and knowing their talent needs in advance. In order to better meet those challenges, financial service organizations are focusing on enhancing their talent sourcing approaches and employment branding as key initiatives for 2008.
Claymore Partners is an executive search and consulting firm specializing in senior business and functional leader searches for top financial services organizations. The 2008 Financial Services Talent Acquisition Survey was sent to over 350 Human Resource Executives from leading financial service institutions across the USA. If you would like further information on the findings from the survey, please contact Steven Landberg at slandberg@ClaymorePartners.com.
Contact:
Steven Landberg
Managing Director
Claymore Partners LLC
Greenwich CT
203 987 4641
slandberg@ClaymorePartners.com
www.ClaymorePartners.com
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However, talent acquisition channels are significantly different for middle management and front line workers for financial service organizations. The predominant channels at this level are internal corporate recruiters at 25% and employee referrals at 23%. The corporate web site also accounted for about 16% of middle market and front line worker hires in 2007. Interestingly, niche job boards are almost equal to general job boards at 8% and 11% respectively at this level.
The top talent acquisition challenges for financial service firms in 2008 was clearly finding top quality talent and knowing their talent needs in advance. In order to better meet those challenges, financial service organizations are focusing on enhancing their talent sourcing approaches and employment branding as key initiatives for 2008.
Claymore Partners is an executive search and consulting firm specializing in senior business and functional leader searches for top financial services organizations. The 2008 Financial Services Talent Acquisition Survey was sent to over 350 Human Resource Executives from leading financial service institutions across the USA. If you would like further information on the findings from the survey, please contact Steven Landberg at slandberg@ClaymorePartners.com.
Contact:
Steven Landberg
Managing Director
Claymore Partners LLC
Greenwich CT
203 987 4641
slandberg@ClaymorePartners.com
www.ClaymorePartners.com
###
Contact
Claymore Partners LLC
Steven Landberg
203 987 4641
www.ClaymorePartners.com
Steven Landberg
203 987 4641
www.ClaymorePartners.com
Contact
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