BANKING INDUSTRY PREDICTS INCREASE IN IT RECRUITMENT

Fifty two per cent (52%) of UK banks are planning to recruit new IT staff over the next six to twelve months according to research* undertaken by Eurobase People, the IT recruitment division of Eurobase International Group. The findings reveal that the majority of IT professionals polled expect to allocate human resources towards significant systems development activity.

"Demand in IT staff is increasingly being driven by e-enablement as banks seek a more real-time environment," comments Tom Fagan, Sales and Marketing Director of Eurobase People. "This is supported by four out of ten (40%) IT professionals, who chose e-trading as the single most important factor in ensuring that their organisations gain a competitive edge."

Less than a quarter (24%) of institutions expected to recruit new staff in order to support global expansion. And only 12% of IT professionals claimed a recruitment drive would take place to help bolster CRM systems, while another 12% would bring in new staff to comply with regulations.

Tom Fagan continues: "The majority of banks and financial institutions are looking to enhance their business processes to generate additional revenue whilst remaining focused on cost reduction. The feedback from recently signed customers of Eurobase within the e-Trading and Front Office sphere is that, by replacing existing systems with more cost effective products that offer far greater functionality, improved STP capability and flexible technology, these objectives can be readily achieved". He adds ’’IT specialists with expertise in XML-based technology and those who are able to design, develop and deliver 3-tier distributed systems and enterprise wide architectures within a distributed environment, are in high demand at the moment. We expect hiring activity to increase steadily over the next twelve months with employers seeking to complete existing IT projects and commence new ones."

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