Conducting Officer Survey Results - HR issues - Part 2/12

76% of the Conducting Officers surveyed are optimistic about the future of their business and 24% are pessimistic. This is reflected in encouraging and promising recruitment figures, with 71% of respondents planning to recruit in the next 12 months. For those who are recruiting, this represents an increase of 46% of their current workforce with an average of 3.8 additional employees.

The following figures seem fairly obvious: 73% of ManCo's plan to recruit compliance professionals which is very much in line with the overall market trend in recruitment. 66% of them also need operations specialists and 29% need portfolio management professionals.

There is a growing interest from candidates for these supervisory structures even if the independent ManCo's have more difficulties in recruiting because of their more business -oriented dimension.

?In a context of strong employment pressure and lack of resources, the number one issue for Manco's managers is obviously the attraction of talent for 87.5% of them.

It can also be noticed that they have difficulties in running their business on a daily basis as 72.1% suffer from a lack of resources and 66.2% from a lack of expertise.?These newcomers to the market, which are very specific to Luxembourg industry, operate in a closed market, even though companies want to increase their workforce by 46%.

This is the particularity of this industry; being endemic and growing.

The needs and issues expressed by employees are symptomatic of a tight market where Covid effects and new societal trends are impacting organisations and the lifestyles of their employees. 79,1% mention Compensation are their main issue and Home working comes as 3rd in the top priorities with 61.43%.

The important issue that also emerges is that, in relatively small organisations, the hierarchical pyramids are short and the possibilities for vertical development are rather limited.

next release: Compensation issues