Attracting and retaining the best candidates in the shadow of the 'Great resignation'

Wealth Management and Private Banking

09 June 2022

CultureleadershipOrganisationRecruitmentTalentValuesWealth Management and Private BankingWealth Management and Private Banking

Expert: Nikki Bartlett, EY Facilitator: Roopalee Dave, EY


  • The labour market is the tightest it has ever been, there is a back log of people looking to leave firms
  • Delegating recruitment to HR is not the best approach, leaders need to be immersed in the process, as do the functions doing the recruiting
  • Recruiting is not about hiring; it is about finding people that fit your firm. The best leaders walk the floor to find out what their people want


You can divide the sector workforce into 3 groups

  • 10% make a big difference across functions
  • 80% are competent and useful but don’t add huge value
  • 10% are useless
  • People leave manager and join organisations
  • Firms in the sector are not brilliant at projecting their values, very hard to do in the interview process so external facing material (website etc) needs to do this.
  • The use of business advocates to recruit can be very useful, asking them to use their own network and incentivising, have someone involved in the process who can be empathetic with the candidate e.g., working mums

Key Takeaways:

  • Look at untraditional talent pools, think about transferable skills (professional sports people, ex-military)
  • Remember junior people need to give up a larger % of comp to fund travel, can you alleviate this pressure?
  • If you get the attraction strategy right you can choose those who will drive growth and profit