Research shows employers in the industry don't know what finance professionals want from a job offer

18-Feb-2019

Despite 89% of employers claiming to know what finance professionals find most attractive in a job offer, new data reveals that two-fifths (40.4%) actually get it wrong. That’s according to the latest survey from CV-Library, the UK’s leading independent job site.

The survey asked job hunters in the finance industry what they believe to be the most important aspects of a job offer. It also asked employers what aspects they believe professionals deem to be the most important.

When comparing the responses, the data reveals some discrepancies. While 89.5% of finance professionals voted salary as the most important factor, only 59.6% of employers thought this would be the case. Other key findings include:

Employers believe location to be the least important part of a job offer (5.6%), while finance professionals vote this as their second most important factor (63.2%)
What’s more, over half (52.6%) of professionals in the industry placed working hours as the third most important part of a job offer
Finally, flexible working is crucial to over one in five finance workers (18.8%), yet only 13.6% of employers believed this to be a priority

Lee Biggins, founder and CEO of CV-Library, comments: “With so much uncertainty across the job market right now, it’s crucial that businesses in the industry are doing all they can to attract talented new recruits. Misjudging what candidates are looking for in a job offer can have harmful repercussions for an employer. As such, employers need to have a clear understanding of what finance professionals want from a job, so they can ensure they’re investing in the right areas and offering competitive packages.”

What’s more, finance professionals were asked to reveal what they look for when scanning a job description, with 92.7% saying they look for set criteria. Interestingly, 44.4% even said they wouldn’t apply to a job if the description didn’t contain the following:

1. Salary – 88.9%
2. Location – 86.1%
3. Job title – 44.4%
4. Working hours – 33%
5. Flexible working – 25%

Biggins concludes: “Professionals in the finance sector know what they want from a job offer and those that are aware of the current climate also know that they can afford to be picky with their choices. With many nervous to switch roles amidst ongoing uncertainty, it’s going to take a competitive package to encourage them to leave their current position.

“For this reason, your job descriptions need to clearly show the salary, location, job title and working hours, otherwise you risk losing out on applications. Make this information easy to find and don’t forget to shout about the great perks you have on offer as well!”