2023

Financial Services
In Career Transition

Highlights
Hear from Our Candidates
Important Observations
Project Volume & Utilization
Candidate Job Landings
Satisfaction & Top Resources
Recommendations

Financial Services Highlights

Few Segments have
Weathered Change Like
Financial Services

From the digitization and non-traditional competition, to regulatory changes and market headwinds, leaders in financial services have to balance the need to compete today with the need to transform to meet the talent and competitive realities of tomorrow.

Throughout 2023, Right Management supported financial services leaders in evaluating current and future readiness of their teams, fostered the growth of key leaders, and assisted the transition of those who were not part of the organization’s future plans.

Hear from Our Financial Candidates

A Big Difference Was Made in their Lives…

“Losing my job felt a bit like losing my identity. I lost my routine, my community of work colleagues, and my confidence. Right Management helped me regain my confidence and develop a plan that worked for me.”

“I know that companies have laid people off and left them out to dry. I’m very thankful I didn’t have that. And, investing in outplacement sounds like not just the right thing to do, but the only thing to do.”

Important Observations In The Financial Services Industry

We Noticed Some Interesting Trends…

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Confidence in a Search

After working with Right Management, financial industry candidates have gained confidence in navigating the job market successfully.

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Positive View of Former Employer

Because of Right Management’s support, your employer brand is intact. 78% of candidates would still recommend their previous employer as a place to work, and have an overall positive view of the company.

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Likelihood to Recommend

After completing their program, 95% of transitioned employees would recommend Right Management Services to their colleagues.

Not Surprised

Coaches noticed that most candidates were sad to be selected, but not surprised given market conditions in the financial industry.

Mental Health & Wellbeing

Candidates appreciated the check-in from Right Management and they “felt like their employer wanted to ensure their wellbeing.”

Robotic Notification

Candidates felt like the notification process was robotic and failed to address their questions.

Recent Headlines

Recent headlines surrounding the stability of the banking and finance industry is worrying financial candidates and is causing many of them to consider switching industries.

Compensation Levels

Many candidates worry that their compensation at a new job will be much lower than what they were previously making, mostly due to specialized industries or skillsets.

Cyber Technology

There is an increasing demand for professionals experienced in cyber technology. Especially for the financial services industry.

Typical Project Volume & Utilization In The Financial Services Industry

Financial Candidates Referred And Program Usage

Elevate

Professional level
program

Utilization 76%

Edge

Manager/Leader level
program

Utilization 67%

Exec 12

VP/Senior Leader level
program

Utilization 84%

Candidate Job Landings In The Financial Services Industry

Average Weeks To Land A New Role

Average Weeks to Land in the US

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Average Weeks for Exec to Land

0

Average Weeks for Non-Exec to Land

0

Program Satisfaction In Financial Industry

Candidate Survey Results

As global outplacement leaders, we take our candidates’ experience seriously. At the end of each coaching touchpoint, event, seminar, etc., we randomly sample an externally valid population of candidates to determine satisfaction and uncover areas for improvement.

Overall
Satisfaction

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Coaching
Satisfaction

0%

Learning & Networking Events Satisfaction

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Top Resources In Financial Industry

Top Resources Used Throughout Program

1.   Resume Development
2.   Introduction to LinkedIn
3.   Personal Branding
4.   Successful Cover Letters
5.   Interviewing Strategies

6.   Advanced LinkedIn
7.   Searching and Networking
8.   Negotiating Strategies
9.   Executive First Forum
10. Behavioral Interviewing

Recommendations

Next Steps…

To support the financial industry, meet with us for next steps to on:

  • Reviewing the notification process and Right Management value-add training options for leaders and teams
  • Understanding the latest industry severance practices and policies
  • Discussing tailored solutions and investment options