Since the recession, the last several years has been really tough on financial professionals. Their have been layoffs, restructuring, downsizing, and increased need to do more with less. As one seminar participant put it- work hasn't been alot of fun.
I was the Keynote speaker at a national financial services industry conference last year and it was clear that optimism has started to creep back into the industry. The year before the conference had about half the number of participants, and their was a feeling of doom and gloom in the air. Now there is a more lively vibrant and whimsical feeling in the seminar room hallways as delegates discuss the future.
When I was at a conference speaking for payroll professionals, they had several financial guest speakers and seminars on recruiting. I was happy to hear their are jobs that need to be filled and they are hiring! As one compensation keynote speaker put it, even when it comes to a recession, employees still must be paid, so payroll professionals will always be in demand.
JP Morgan released their earnings today and profits are up 47%
Other industry professionals like bankers and mortgage and insurance brokers have seen their clients lose their home and savings and have been an integral part of the economic recovery. They have been forced to improve processess and increase effectiveness. According to the Miami Herald, about 37 percent of 18- to 29-year-olds have been underemployed or out of work during the recession. This may step up the work ethic and entitlement issues of the x and y generation.
The financial industry still has alot of pressure and uncertainty as many organizations are re-evaluating jobs, roles, pay and performance.
Experts say that the average 18 year old will have over 12 different jobs before they reach 38 and 50% of those jobs haven't even been created yet. This kind of career uncertainty may mean career re-invention is a constant on the minds of young success oriented professionals.
Keynote Motivational Speaker, Jody Urquhart