Financial recruitment through networking sites

Financial planners will soon be routinely recruited through such Internet-based social networking sites as Facebook, MySpace and Linked-In. The surging popularity of these sites represents a huge opportunity for the passive recruitment for financial and banking roles.

The rise of these social networking groups suggests the way people are interacting with each other is changing profoundly, and financial recruitment techniques will not be immune to this change.

A question for everybody involved in financial recruitment is how to tap into a market comprised of people connecting to each other through social networking sites. A move to passive recruitment in the finance and banking sector would be a profound change in the method of attracting, recruiting and retaining finance staff. This change is being led by demographics, and is forcing finance job agencies to revaluate their methodologies.

One key change evident since the late 1990s is that advertising in the finance or banking sector alone is not effective in attracting financial staff anymore. Another is evident in the dramatic increase in headhunting for financial staff as a method of recruitment within the financial planning sector for all levels of employee.