Is banking a “stepping stone” career?

The banking industry is in danger of losing the recruitment war according to the latest figures

Is banking a “stepping stone” career?
Global trends indicate that banking may soon become a “stepping stone” career for future staff, according to the latest report from Deloitte.
The survey indicates that many banking-inclined students aspire to gain a “good reference for [their] future career”.
The authors suggested that many current students may consider using their banking references to kick start careers outside the industry.
The report also showed that banks are in danger of being overtaken by the tech industry when attracting new staff.
Statistics suggest the popularity of careers in software and computer services rose by 4.1 percentage points between 2008 and 2015.
On the other hand, banking fell by 4.3 percentage points during the same period.
Extrapolating these trends, software and computer services will become more popular to candidates by 2022.
For 2015, Deloitte found that business students were more likely to choose a career in fast-moving consumer goods (14.44%), banking (14.41%) and software and computer services (9.61%).
Lastly, the report raised concerns that banks were failing to attract candidates with the right skills to cope in today’s digital age. Relative to the average scores for business students, banking-inclined students were less likely to aspire to qualities such as “innovation” or “attractive/exciting products and services”.
Ho Kok Yong, Deloitte’s financial services industry leader for Southeast Asia and Singapore said that international banks should combat these trends by tailoring their recruitment strategies.
“Increased need for global talent and mobility leads to resourcing models that attract and effectively source from alternative and diverse talent pools. International banks can learn from countries where banks are more popular employers.”
Related stories:
How one tech firm is beating its competitors to the best graduates
Three approaches to graduate programs
HR targets junior college grads

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