Do we plan for the future or wait for the storm to pass?

This question seems to be facing many companies now, not only in the Financial Services sector but in the wider economy as well.  The difficulties faced in recent weeks by insurers, including the world's largest, AIG, shows just how difficult it can be to decide if and how to face the current situation.  In many cases, the reaction can be to stop recruitment and try to weather the storm.  However, certain insurers appear to be challenging the normal reaction and are actively looking at recruiting the best people to create teams that will be ideally placed to build business in the months ahead.  “We have recently been instructed to begin the headhunting process for a number of roles by clients.  They have taken the decision that they must plan now to create the teams they need to protect their existing market share and be in a position to actively grow their business,” explained Paul Harper.   

CONFIDENTIAL RECRUITMENT  A key concern for companies looking to recruit now has been the need to do so confidentially. “As with any commercial plans, there is a desire to maintain secrecy and not alert competitors to your intentions.  However, we are also seeing managers and directors bombarded with suggestions of inappropriate people, both internally and externally, who have been made redundant or are at threat of it. By recruiting confidentially these pressures to recruit unsuitable people can be side-stepped,” continued Paul. 

THE RIGHT TIME?  Only time will tell if this strategy will work, but such companies will have gathered very strong teams to help them grow their business.   “Top quality people looking to move are being very quickly snapped up, especially if they can see the role they are being interviewed for is part of a planned response to the current situation.  In a 'normal' market such people are very reluctant to move, but if there is uncertainty about their employer and future, they will now go.”  So if you are planning to build out of the current slowdown, you can get top people and not endanger your plans by having to take on re-deployed people.

Back to headlines