Almost half of senior leaders in financial services have identified skills shortage as their greatest worry over the next twelve months, according to research from Robert Half Financial Services.

Robert Half’s research explored key external and internal concerns facing the industry, including the impact of tightened regulation controls, new business processes, and training and development for employees.

In addition to the skills shortage concerns, other worries included tightened regulatory controls (cited by 42% of respondents), implementing new business processes (35%), market instability, bank recapitalisation, and training and developing existing employees (all 32%).

Matt Weston, UK managing director at Robert Half, commented, “With only a finite number of skilled professionals, providing current staff with the means to grow and develop new skills provides tangible benefits to the business as a whole, including plugging skills gaps. Staff provided with such opportunities are more motivated, productive and loyal which has a positive impact on any organisation.”

“Additionally, while operating in a period of change, or market instability, adopting a flexible recruitment strategy can offer great benefits. Where current skills gaps do exist, hiring in temporary or contract professionals to fill those gaps allows for added value, greater flexibility and controls”, Weston said.