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.
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.

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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.”

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