Recruiting in a difficult market - Nick Graham, Managing Director
19 January 2007
THE employment market in Guernsey is getting tougher and tougher. Not only is this true within the finance industry, but across the board.
Businesses are expressing concerns that Guernsey is currently enduring the most difficult job market in terms of the suitability of potential candidates and the number of qualified staff available.
Despite this, businesses on the island continue to boom but the bubble may burst if this recruitment problem escalates. For instance, the finance industry has seen massive growth within the fund and trust sectors but organisations are finding it hard to recruit staff to sustain this growth.
Even though Guernsey is able to offer salaries on a par with those in London and even further afield, the island needs to make sure that there are no obstacles in the way to prevent would-be recruits taking positions here.
Housing restrictions and licences are obvious issues which need to be addressed. Flexibility is essential. We are experiencing a time when the housing authorities need to be as helpful as possible and not to place harsh restrictions on individuals wishing to move to the island.
Another growing trend is the number of students who leave the island to go to university and do not return. We need to find ways of attracting them back to the island once they are qualified.
Over the past 12 months OSA Recruitment has seen a significant number of start-up businesses referred to us from law and accountancy firms, and particularly within the commercial sector. This is an extremely encouraging trend and it is hoped that these companies will become significant players in Guernsey over the next few years. However, once again finding staff to support them seems to be the most difficult part of the jigsaw puzzle. The availability of accountants, bookkeepers, web designers and bright young people, from school leavers to graduates, is limited.
The GTA University Centre is to be congratulated on the way it provides and encourages quality professional training and development to overcome the skills shortfall.
As described by Richard Conder, Chief Executive of the GTA; “Guernsey’s competitive edge lies largely with the skill and expertise of its workplace. Within this framework it is clear to see the integral parts that training and development plays in the future success of the island’s knowledge economy.”
We believe the GTA works tirelessly to encourage on-island, high level training for existing and aspiring senior and middle managers, as well as niche programmes specifically tailored to the island’s needs. All this helps significantly to sustain Guernsey’s growth.
The finance industry itself is also playing its part in tackling the island’s recruitment problem. The Guernsey International Business Association (GIBA) has recently produced a web site (www.futures.gg) and an animated CD ROM entitled ‘Futures – your career in finance’.
Targeting 16 to 24 year olds it uses a series of individuals as ‘talking heads’ to help bring the whole finance industry to life, aiming to grab the attention of students in a simple and appealing way and explaining the huge scope for development and career progression opportunities that are available on their doorstep.
Initiatives such as these are just what the island needs if it is going to continue to prosper and grow.
If we are to ensure Guernsey’s long-term economic success the island as a whole needs to address these issues as a matter of urgency.
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