GUEST COMMENT: The often deluded expectations of Scottish financial professionals
After a promising first half, the Scottish financial services job market is experiencing some more jitters. The recent troubles around the US downgrade and the eurozone sovereign crisis has seen stock markets slump in recent weeks; the knock-on effect of which is that firms are being less-than-bullish about pressing ahead with expansion plans, or even replacement hires.
From a job-seeker perspective, this means you have to be both resilient and innovative; ensuring that you're using every tool available to you to open doors, secure interviews and - eventually - get a new job. Never assume, as so many candidates do, that you're a perfect fit for a role and could (and should) walk into it.
As a financial services recruiter in Scotland, one of the biggest complaints we (and our industry peers) receive is that it's our fault people didn't get the job. Specifically, candidates complain when we didn't put them forward for a role even though, they say, "I know I'm perfect for it".
I'm the first to admit that communication could be better at times, as with any industry where there is a high degree of human interaction, but please do not assume we don't know the requirements of our client. Talent acquisition is a commercial, not philanthropic, business and while we're here to help we cannot make miracles happen.
Anyway, finger pointing aside, please consider the following before applying for a role and (subsequently) complaining that we haven't serviced your needs. The steps below will help you, and ultimately ease frustration on the part of recruiters, line managers and, of course, job-seekers.
1. Do not apply to every single role just because you can. The internet has made things very easy to send off a CV because you like the look of the role rather than you can do it. If you would not have spent the money posting your CV to a role, do not e-mail it.
2. Put yourself in a hiring manager's position. There are more candidates than jobs at the moment, so the chances are that you will be up against someone with a close match to the skill-set needed by the client. Apply to your strengths, not your aspirations.
3. If applying via a recruiter, remember that we are only paid by a client if we find them what they are looking for. It is very rare that they will take a risk on someone being able to 'pick up the role quickly'. We are also in competition usually with 3-4 other agencies, so the only candidates we submit are those the client is looking for.
4. If you want more feedback on why you have been rejected by an agency then call and ask. We can often get in excess of 300 e-mails per day, so it's better to phone. Remember the points above though; if you don't match the job description, you shouldn't expect a response.
5. If you are getting frustrated about not getting anywhere with applications, both your suitability for the role and how you're applying for it. A standard cover letter is no longer sufficient - you need to have multiple reasons for applying for that company and that role. A little stroking of the hiring managers' egos never hurts.
6. Use your network. By far the largest proportion of people placed into new roles get them through referrals; either directly into companies or to recruiters. Use your network and they will help steer you towards roles before they are officially live and to recruiters who have been helpful to them. This is, to our detriment at times, an unregulated industry so for the best results go by what people recommend.
These might all seem relatively simplistic points, but most complainants (note: not applicants) tend to get frustrated because of the lack of success after putting themselves forward for multiple roles, rather than considering what has gone wrong with an individual application.
You need to ensure that you consider your strengths, and apply to relevant positions to have any sort of guarantee that you're in a prime position. Scattergun approaches don't work and will leave you exasperated.
Remember, our livelihood depends on getting people jobs so we want to help as much as possible. Just consider what you can do to help yourself.
Mike Leeman is manager - finance recruitment at Bright Purple in Edinburgh