IBN: Defining Excellence in Electronic Recruiting


Electronic Recruiting News

Our Rate Card

Please Click On Our Sponsors

Please Click On Our Sponsors

Recruiting News for the Human Resource Professional

Please Click On Our Sponsors

Please Click On Our Sponsors

Please Click On Our Sponsors

Please Click On Our Sponsors




Click On Our Sponsors

Click On Our Sponsors









Click On Our Sponsors

The Electronic Recruiting News is a Free Daily Newsletter For Recruiters, HR Managers, Advertising Agencies and Clasified Advertising Operations

Home | ERN | Bugler | The Blogs | Blogroll | Advertise | Archives |Careers |

Financial Services Jobs Market comes of age as older workers grow in confidence to move

(February 26, 2008) 
  • Over-35s account for 18% of jobs moves in financial services in 2007 - up from 14% in 2003

  • Age Discrimination legislation provides biggest boost for over-56 workforce in the sector

  • Age discrimination legislation has led to a significant increase in job moves amongst older workers in the financial services sector. Figures from financial services recruiter Joslin Rowe reveal that the over-35s account for 18.1% of total moves today - compared with only 14.0% five years ago.

    The runaway winners from the legislation are the over-56s. Five years ago, they made up only 0.1% of job changes in the financial services sector. However, following the legislation, this figure has grown to 0.5%. The increase represents an absolute increase of 323.2% over the last five years.

    Tara Ricks, Managing Director of Joslin Rowe's permanent recruitment business, said: "Younger workers in financial services have always been far more inclined to move jobs, as this often represents the quickest way to progress their careers. However, as a result of the age discrimination legislation, people over the age of 35 in the sector are more likely to move around - and the proportion of over-56s prepared to make a change has risen dramatically. In the past this age group has been most reluctant to move jobs. While part of the reason is that older workers tend to be more settled, apprehension over inequalities in recruitment processes has also played a significant role in holding people back. The legislation has been instrumental in increasing people's confidence to try what they haven't tried in the past and move jobs."

    In spite of the impact of the legislation, the under-35s still comprise the largest segment of the sector's workforce as well as accounting for the vast majority of job moves. The financial and business services sector employs approximately 5.7 million people across the UK , 54.0% of which are under the age of 35 - or around 3.08 million people. At the same time, 81.9% of job moves are made by the under-35s. 46.0% of workers in financial services are aged 35 or over, approximately 2.62 million people, but they are still far less likely to seek a position elsewhere (18.1% of total moves).

    There are around 285,000 employees aged 56 or older - 5.0% of the total - but, even today, these comprise a disproportionately small number of people changing jobs (0.5%).

    The Employment Equality (Age) Regulations came into force in October 2006. The regulation applies comprehensively to all areas of employment, including pay and benefits; pension schemes; retirement age; harassment; training and promotion.

    Tara Rick said: "The legislation was designed to eliminate discrimination on the grounds of age for all employees and job seekers and although it is still early days, it is doing just that."

    * Reference


    Receive printed e-recruitment market news at your desk. Click here to subscribe to Online Recruitment Magazine

    Article provided by Onrec.

    Colleen Gildea . - . Permalink . - . Today's Bugler . - . Send To a Friend . - . Readership Feedback

    Read the Bugler for daily industry news.

    TopUSAJobs.com: Guide to Top Specialty Boards
    Where Top Candidates Seek Career Opportunites
    Accounting / Finance JobsintheMoney.com
    Call Center CallCenterJobs.com
    Drivers / Trucking JobsInTrucks.com
    Employee Benefits EmployeeBenefitsJobs.com
    Enviro/Occup. Health & Safety EHSCareers.com
    Executive RiteSite.com
    Executive NETSHARE.com
    Health / Medical HealthJobsUSA.com
    Hispanic / Bilingual LatPro.com
    Hotels / Hospitality HOTELScareers.com
    Logistics JobsInLogistics.com
    Manufacturing JobsInManufacturing.com
    Mechanical/Electrical/Plumbing MEPJobs.com
    Retail AllRetailJobs.com
    Security Clearance ClearanceJobs.com
    Tax Specialists TaxTalent.com
    Telecom / Wireless TelecomCareers.net
    For more Specialty Boards, visit:
    Employer's Corner on TopUSAJobs.com

    | Home | ERN | Bugler | The Blogs | Advertise | Trends | Archives |

    Click On Our Sponsors

    Read Today's
    Bugler       Read current Blogging News: BERT

    Download Authoria's complimentary white paper
    -Staffing Strategies: Can You Find, Recruit, and Retain the Talent You Need?
    Kennedy Presentation: Adventures In Search Video.
    Presentation from John Sumser, Recruiting Is A Conversation is available for download.

    Presentation from John and Bridget Sumser, Rethinking The Workforce is available for download.

    Ten Principles for Recruiting An Integenerational Workforce from John Sumser.

    To receive this Newsletter in Email each weekday, please use the form on the linked page.

      Contacting Us:
    Copyright © 2008 interbiznet. All rights reserved.
    Mill Valley, CA 94941
    Send comments to colleen@interbiznet.com












    Electronic Recruiting News


        -  Bugler
          Daily Industry News

        -  ERNIE
          ERN in Email





  • Emotional Intelligence
  • Financial Jobs
  • Calendar
  • Simple and Effective
  • Recruiting Videos
  • TidBits
  • Planning Event
  • Blogs, Blogs, Blogs
  • Future of Workforce
  • The Future of Work
  • Social Networking
  • Persona
  • Disruptive Networking
  • Social Change
  • Brain Training
  • The Bugler
  • Neurofeedback Follow Up
  • Troisi on Neurofeedback
  • Friis-Molin on Video
  • Demo and Techno
  • Jobs In Pods
  • Occupation Specialties
  • HCI in 2008
  • Enter 2008
  • Thank you
  • 2006 Revisited
  • Places to Launch a Career
  • Top 10 JobSites






    All material on this website is the property of interbiznet. You may download a copy for personal use. Redistribution without permission is strictly prohibited. All material on this site is © 2008 interbiznet.