As we enter the final quarter of 2021, it seems a good time to look at how the Finance market in Switzerland has evolved from the perspective of both job seekers and employers.
Job Seekers – more opportunities advertised direct, but high volumes of applicants and a frustrating lack of feedback when applying for roles.
Employers – a focus on advertising direct, rather than using recruitment consultancies, to save cost and take advantage of candidates needing work. The high application volumes masked a decline in relevance, as individuals who had been displaced were forced to apply for a number of jobs to maintain their support.
Job Seekers – as lifestyles were reviewed post-COVID-19 and the return to the office got nearer, the working from home factor became more important for candidates.
Employers – competition for talent increased and we saw more counter-offers from employers trying to retain employees. Companies unable to offer work from home flexibility struggled to attract high quality individuals. More recruitment processes required support from recruitment consultancies.
What happened in Q3?
- An increase in career moves from passive candidates, but a preference to work with recruitment consultancies, rather than applying direct, partly due to time restraints, but mostly due to very specific career aims
- More opportunities for good candidates, resulting in multiple offers for some
- Counter-offers by current employers are being experienced more frequently
- Frustrations about directly-advertised positions – particularly relating to salaries
- Negative employer brand experience, due to the lack of feedback from direct applications
- Unexpected vacancies appearing as passive candidates re-engaged their career plan and started securing new roles
- High levels of competition for talent resulted in some upward salary pressure
- Work from home policies were challenged by potential employees
- Recruitment timelines needed to be shortened to avoid missing out on desired candidates
What do we expect in Q4?
As the impact of COVID-19 reduces, the new normal becomes clearer and business confidence increases. Many projects and developments that were put on hold are now being brought back into current plans.
All of this is good news for Finance candidates seeking new opportunities, but it means we will see more movement in the Swiss market, as individuals who have been happy to sit tight for the last 18 months put their career plan back into action.
How can EMEA Recruitment help you?
In a market that is changing quickly, the most valuable commodity to both job seekers and employers is timely and accurate insight. As specialists in Finance recruitment in Switzerland, the Finance & Accountancy team at EMEA Recruitment has this in abundance, and is happy to share with both candidates and clients.
If there is anything you would like to know about the Finance market in Switzerland, to either help you plan your next career move or to assist you in recruiting more effectively into your business, we would be happy to talk to you.
Get in touch with the head of our Swiss Finance division, Mark Robinson: email@example.com