To Top

Competition increases for Top Talent in 2017

When I speak to senior directors and explain the level of competition..

..they all seem to naturally assume that candidates are falling prey to counter offers from their existing employer. This isn’t the case.

In most cases sales leaders are finding they are being courted by a number of potential future employers. As a result, they have often been surprised to learn they can actually increase their salary on leaving, rather than reduce it, as might be expected in an increasingly cost conscious market. Those employers that are refusing to be flexible (often the big corporate employers) are losing out to faster, more flexible, small employers who are quicker at reacting to market conditions and more likely to come up with an acceptable financial package. Smaller companies are paying big salaries.

Demand for Senior Professionals

Many skilled and experienced professionals have left retail financial services over the past 8 years as companies have sought to cut costs ensuring their services are cheaper, faster and better than their competitors. Cost pressures continue but, whereas we’ve seen a lot of expensive, highly paid professionals leave the market, replaced by the next generation, we’ve begun to see companies struggle to recruit senior professionals and the competition for talent has, therefore, increased.

What 2017 Tells Us

In 2017 we have noticed a trend where more and more senior managers are finding they have a choice of an employer. As a result, a small band of ambitious, skilled and experienced professionals are being chased by a larger and larger group of potential employers. 2017 has been marked with the fact that many job offers have been declined as candidates found themselves in a bidding war.