For many candidates, salary isn’t the only factor considered when accepting a job offer. And while incentives used to be limited to popular perks such as stock options and mortgage allowances, candidates are now looking for a wider range of benefits. This is especially true of job seekers within the investment management industry.
This was one of the hot topics at The Canadian Association of Alternative Strategies & Asset’s (CAASA) roundtable where Martin Fox presented to attendees about ways investment managers can attract and retain talent while thinking outside of standard compensation packages.
Here’s a summary of what was covered:
What are the top priorities for candidates working in investment management?
- Working for a company that values you
- Gaining experience
- Obtaining a strong work/life balance
- Developing on technical skills and capabilities
Company reputation - Are you telling the world about how great your company is? Invest in marketing that shows prospective employees just how great you are, then back it up with a stand-out recruitment process.
Culture - Introducing small, incremental changes to your workplace culture can make a big impression on potential employees. Add employee testimonials to your careers site to provide candidates with a better insight into day-to-day working life.
Personal relationships - Are your hiring managers building up strong relationships with potential employees? Invest in interview-focused training and install a structured interview process that allows hiring managers time to develop these relationships.
Personal fulfilment - One way companies can make this sense of fulfilment central to the recruitment process is by setting out how candidates can interact with the decision-making process in the role. Candidates will want to know their overall decision-making capacity and that their ideas matter.
Career progression - The prospect of career progression is often fundamental in a candidate’s decision to accept a job offer, so it’s essential companies look to signpost all available opportunities for professional development and make sure these are discussed with candidates during the recruitment process.
Keeping candidates engaged
Have a clear timeframe to interview and hire and think outside popular perks. Think about adding flexible working hours and work from home policies.
Tailor your professional development scheme. Establishing a tailored professional development scheme that focuses on increasing the hard and soft skillsets of employees is a great way to attract candidates thinking about longer-term career development.
Make sure these opportunities are discussed with candidates during the recruitment process.
For more information on how Robert Walters can assist with your hiring needs, contact us today.