Firms must pick staff with the skills to navigate change

TRUMBULL, CT — April 28, 2021 — Financial services (FS) firms are ramping up recruitment as global economic confidence returns. Questionmark, the online assessment provider, is urging employers to ensure they bring in staff with the skills to navigate change.

After a sluggish year, recruiters are confident that hiring is bouncing back in the United States (US).[1][2] FS employers in London made 70% more jobs available in the first quarter of 2021 than the final three months of 2020.[3]

Employers recognize that the skills they need to recruit for are changing. Fifty-five percent of firms globally believe that skills shortages are stopping them from innovating. This is making a tangible impact on the business.  Two-fifths (44%) say they have been unable to pursue market opportunities as a result. A further 47% claimed their customer experience or quality standards are suffering, according to research by consultancy firm PwC.[4]

But despite recognizing the need to change, finding new hires with the requisite skills remains challenging. Tried and tested recruitment techniques can fail to be effective. Hirers may subconsciously follow familiar patterns and choose candidates that remind them of the current workforce. If they do so, they miss the opportunity to diversify skills, drive innovation or simply reshape the team.

By measuring the skills and attitudes of candidates before hiring, employers can make a more informed decision about who to bring into the team. Assessments indicate whether potential recruits can do what they say they can and if they are likely to have the right attitude for the job.

Lars Pedersen, CEO of Questionmark, said: “As financial service companies start recruiting in earnest, they must ensure that they are bringing in people with the skills to drive their teams forward. Traditional hiring tactics risk bringing in ‘more of the same’. They are unlikely to secure the skills they need.

“Assessing candidates before deciding to hire them gives employers the information they need to make the best hiring decision. They can confirm they have the skills to drive innovation and help their teams reach new levels of success.”

www.questionmark.com/financial-services

About Questionmark

Questionmark unlocks performance through reliable and secure online assessments.

Questionmark provides a secure enterprise-grade assessment platform and professional services to leading organizations around the world, delivered with care and unequalled expertise. Its full-service online assessment tool and professional services help customers to improve their performance and meet their compliance requirements. Questionmark enables organizations to unlock their potential by delivering assessments which are valid, reliable, fair and defensible.

Questionmark offers secure powerful integration with other LMS, LRS and proctoring services making it easy to bring everything together in one place. Questionmark’s cloud-based assessment management platform offers rapid deployment, scalability for high-volume test delivery, 24/7 support, and the peace-of-mind of secure, audited U.S., Australian and European-based data centers.


[1] https://www.efinancialcareers.co.uk/news/2021/03/where-banks-are-hiring-2021

[2] https://www.efinancialcareers.co.uk/news/2021/01/finding-a-banking-job-in-2021

[3] https://www2.staffingindustry.com/eng/Editorial/Daily-News/UK-Number-of-financial-services-jobs-available-in-London-on-the-rise-Morgan-McKinley-57348

[4] https://www.pwc.com/gx/en/ceo-survey/2019/Theme-assets/reports/financial-services-talent-ceo-survey-trends-report-2019.pdf