Headhunter Core-Asset Consulting flags rise in finance vacancies

Firms in Scotland’s key finance sector have shown resilience with a recent spike in vacancies, but the dominance of temporary posts indicates caution, according to a recruiter focused on the industry.

Betsy Williamson, founder and MD of the Edinburgh-based business. Picture: contributed.

Experts at Core-Asset Consulting said financial services, which account for 8 per cent of both gross domestic product and employment north of the Border, saw a 283 per cent jump in new roles marketed in June and July versus April and May.

However, the head-hunter also said more than half of all vacancies were for temporary or contractor employees, indicating a lack of long-term confidence. Overall vacancies from February to July were down 44.2 per cent on 2019’s figures, which were already hampered by uncertainty linked mainly to Brexit.

Betsy Williamson, founder and managing director of the Edinburgh-based firm, said: “Contrary to many people’s expectations, the jobs market didn’t grind to a complete halt in April and May.” She added that financial services remained a key part of the economy, “and, on the whole, experienced less turbulence than some other areas”.

The recruiter, which was formed in 2005, turns over nearly £15 million and boasts 26 specialist recruiters in the asset-management, investment, financial services, accountancy and legal sectors.

Williamson also commented: “As furlough comes to an end, we’ve been urging firms to keep the persistent succession crisis front of mind – and not cut swathes of middle-management where it can be possibly avoided.”

SCOTSMAN.COM

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