Recruitment in the Financial Services sector is fast paced and can be challenging. With candidate scarcity issues and 42% of companies expecting an increase in hiring this year, knowing the channels and sources that are helping to fill roles and managing the candidate experience will help to succeed in attracting the right quantity and quality of candidates.
That's why an Applicant Tracking System, awarded with the Hellios Stage 2 Financial Services Supplier Qualification, is designed to help you recruit for all of your recruiment needs, bringing hiring success to Banks, Building Societies, Insurance companies and other financial services businesses.
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Whether you need to attract top talent in a competitive market, or maintain compliance throughout the recruitment process and adhere to strict industry regulations, you’ll find Eploy to be the most adaptable talent acquisition technology that consistently delivers the results you demand.
Eploy ensures compliance in financial recruitment, adhering to strict industry regulations for a secure and trustworthy recruitment process.
With Eploy, Financial Services firms can cultivate a robust talent pool, ensuring a steady supply of skilled professionals for diverse roles.
Eploy’s suite of tools positions your financial firm to attract the best talent, enhancing your recruitment outreach and increasing applicant quality.
Eploy aids financial institutions in attracting and nurturing graduates, ensuring a pipeline of talented professionals aligned with your future needs.
Eploy transforms the onboarding process in Financial Services, ensuring new staff are integrated smoothly and swiftly into your team.
Recruitment in the Financial Services industry comes with unique challenges. These can be addressed by understanding the most effective candidate sourcing channels for the sector and anticipating potential changes in hiring levels throughout the year. Eploy helps recruiters in the Finance sector tackle these challenges and streamline their recruitment processes to achieve the results they need.
Companies within the Financial Services sector heavily rely on their Website/Careers Site (90%), as well as Professional Social Networks (87%) such as LinkedIn, for finding skilled candidates. Employee Referrals (84%) is also a widely used sourcing channel in the sector
There is a reliance on in-house Banking and Finance sector recruitment teams turning to agencies for help in filling their vacancies, which grew from 67% in 2023 to 76% in 2024. The cost associated with this approach can have a major impact on a company’s cost of hire and may not always be the most effective use of spend. Financial sector applicant tracking systems (ATS) offer a solution, which is more affordable in the long run, also giving hiring organisations more control over their candidate management.
Source: 2024 UK Candidate Attraction Survey
When looking at how Financial Service sector recruiters are succeeding with talent attraction, the Sourcing Quadrant provides an easy-to-understand picture. The Website/Careers site is the top channel by usage and delivers both good quality and quantity of candidates. A good careers site design and content should provide a stellar experience through every step of the recruitment journey for the best candidate engagement.
Other channels, such as Events, CV Databases and Social Media tend to be less successful in providing quality and quantity of candidates.
Source: 2024 UK Candidate Attraction Report
In the Financial Services Sector, 40% of in-house recruiters expect an increase in hiring for the coming year, with 45% anticipating no change. When you compare that against how recruitment budgets will align, the report shares that only 15% of recruiters suggest an increase in budgets, but 43% see no change and 42% report a decrease in budgets!
With the need to effectively source candidates, it's important to have simple, streamlined tools that allow all involved in the recruitment process to have visibility of the recruitment journey when on the go. With Eploy, as well as getting an award-winning Applicant Tracking System engineered to work on every platform, you get a dedicated hiring manager portal that's simple and easy to use, a dedicated candidate portal and complete insight into your recruitment activities with built-in dashboards.
Recruiters in the Financial Services sector face similar challenges to other sectors with scarcity of qualified candidates and building a diverse and inclusive workforce as the top two named challenges. Interestingly, those who have an active metrics and analytics programme in place report a greater quality of candidates they attract so this is worth bearing in mind when looking to address sourcing challenges.
With access to a Financial Services Applicant Tracking System from Eploy you get complete recruitment analytics built in. You can create customisable dashboards that measure and monitor, in real time, every aspect of your hiring process - even compliance.
Which channels do financial services recruiters use for sourcing candidates?
Finding talent
Which candidate sourcing channels work best in financial services?
Improve your advertising
How will levels of hiring in the financial services sector change in next 12 months?
Do more with less
Financial Services sector hiring challenges
Solving hard problems
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“We now have a truly customisable talent platform that supports us across the recruitment journey. We are looking forward to utilising the full measurement capabilities within Eploy dashboards to focus on the right activities, monitor our KPIs and collaborate better as a team”.
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“This connected candidate experience is providing a seamless candidate journey in a unique way to our recruitment workflows. It delivers an innovative approach that supports our forward-thinking culture, embracing new and better ways of doing things.”
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“Throughout this project, our fantastic relationship with Eploy has allowed us to take a collaborative approach between the Coventry Building Society project team, our in-house UX UI design team and Eploy. We had regular reviews to ensure that the project to rebrand the candidate portal to the current design and expand on the existing pages with additional candidate-centric content was delivered as scoped and on time.''
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“It was important to ensure the careers site matched where Simplyhealth is in 2023. As a purpose led business and the UK’s first health insurer to receive B Corp accreditation, I was very keen to ensure what we tell candidates about our company culture, values and our approach to Smart Working and the flexibility it provides, is represented online. As a team we developed content so candidates can get an understanding of the different opportunities across Simplyhealth and easily click through to a fully branded site with supporting information related to individual roles, similar jobs and get a feel for life at Simplyhealth – all designed to help candidates find and apply for their ideal career with us.”
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“We can now flexibly adapt to changing recruitment requirements and have improved the candidate journey across the recruitment process. Candidates can access their secure profile on any device, update their profile, submit onboarding information and even sign offers and contracts within the portal. Eploy offers us the ability to automate intuitively but keep the important human aspect.''
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“We have made rapid progress moving from what was a software database to a complete Applicant Tracking System. The Eploy implementation process has meant that we built a customised platform not only fit for purpose now, but that will allow us to continue to be entrepreneurial and to achieve more.”
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''We took time to revisit our recruitment process to add value at every stage of the recruitment process, keen to not transfer an old process into a new system. Having the functionality available to us we have achieved some key improvements. For example, candidates can now use the interview slot selector to select a convenient interview time. This has reduced administration and increased application to interview ratios for contact centre roles from 40% to 80%. ''
''Our overall experience has been excellent, the customer service is second to none and highly personalised. The ongoing innovations and upgrades ensure that we are always at the forefront of recruitment technology and our users find the system easy to navigate and efficient for their needs.''
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“We can now flexibly adapt to changing recruitment requirements and have improved the candidate journey across the recruitment process. Candidates can access their secure profile on any device, update their profile, submit onboarding information and even sign offers and contracts within the portal. Eploy offers us the ability to automate intuitively but keep the important human aspect.''
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Jane Lee-Isted
Talent Acquisition & Onboarding Manager
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The Nottingham is in a period of growth and was keen to embed a smarter candidate journey to enable its talent to grow at the same pace as its ambitious and agile change programme. The recruitment team selected Eploy to alleviate the challenges faced through its hiring process.
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Nest is a Public Corporation built on a social purpose with the vision to help millions enjoy a better retirement. Their people and development strategy aims to ensure that Nest has the organisational capability, leadership and culture, skills and agile operating models it needs to compete and succeed in the future. Read about the Nest journey with Eploy.
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allpay Limited is the UK’s leading Fintech payments specialist. As part of wanting to streamline and improve their recruitment process, allpay selected Eploy to provide a solution with an innovative roadmap and the ability to grow with them.
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In recruiting diverse and talented individuals with a passion for delivering the very best for their clients, Arbuthnot Latham looked at ways to connect recruitment technologies to provide seamless candidate experiences.
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Arbuthnot Latham took advantage of their Eploy prize of a day’s complimentary tailored training session. The day explored how best to push the boundaries with the teams use of Eploy to ensure everyone is getting the maximum return on their recruitment software investment.
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The encompassing Secure Trust Bank Group has a vast array of specialist and support roles based in each of its offices; Solihull, Manchester, Rotherham, Bourne End, London and Cardiff. The roles cover many different areas including: HR, Training, IT, Risk & Compliance, Finance, Sales & Client Services and Marketing & Communications. Getting the right people in the right roles to have an impact on the Group’s core values is essential.
Learn more about how Talent Acquisition teams in the Financial Sector benefit from using Eploy.
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