Candidates to banks: Show us a long-term career plan, or we won't join you

In a further sign that the job market is not as frothy as last year, candidates are generally putting long-term career development ahead of immediate monetary gain, according to delegates at the recent eFinancialCareers roundtable in Sydney.

Job seekers are also becoming more cautious about moving firms and doing more due diligence about the employer and the role, agreed the 23-strong panel of HR professionals from leading financial institutions.

"Compensation is of course still important, but most people are now changing firms mainly for a new opportunities and career development. They are looking for the next challenge," said one of the attendees, all of whom asked not to be named in this report.

Firms are realising that in order to attract talent, they should highlight future internal opportunities at interview stage. Another roundtable delegate added: "Savvy candidates know the markets are going to change in the future and that their careers will have to change too. They are asking us 'what's the next step at your firm?'"

One Australian bank is building potential career moves into job descriptions at senior-analyst level and above. "People no longer want to work in silos for the rest of their careers. We must show them opportunities for internal mobility, which sometimes includes moving internationally with us."

Feel the fear

In our first article about the roundtable, we highlighted employers' cautious approach to hiring, and it also seems candidates are becoming more reluctant to move.

"There's a renewed fear factor. People in Australia are looking very closely at overseas markets and thinking whether now is the right time to change jobs. Leading up to the GFC there was a similar feeling about the potential impact on jobs here," remarked a panellist.

Another added: "Candidates are questioning why the opportunity has become available in the first place and are therefore asking more of us during interviews."

But candidate caution isn't only apparent at interview stage. "They're doing more of their own extensive background research into us, the job and the market - leaving no stone unturned."