How can financial services companies retain IT staff in digital era?

How can financial services companies retain IT staff in digital era?

Millennial information technology professionals in Indonesia are shunning sectors such as financial services and preferring to focus their respective careers on tech or start-up companies.

This is great news for start-up companies, particularly in the technology sector, but an unwelcome situation for other industries in an increasingly digital era.

To explore the issue of how best to not only recruit but also retain job-hopping millennial technology talent, executive recruitment company Monroe Consulting Group Indonesia hosted a high-level roundtable discussion at the upmarket Ayana Midplaza Hotel in Jakarta.

Nearly 40 human resources (HR) executives from a number of leading financial services companies were on hand to listen to compelling presentations from Isdar Marwan, the Director of Career Services at Mercer, Evan Tanotogono, the Head of Digital Channel at Sequis Life, and Ardianto Utomo, the VP of Employee Health and Benefits at Marsh Indonesia.

Monroe headhunter Jeremy Gemarista, the Assistant Division Head of the executive search agency’s Professional Division, said the financial services industry in Indonesia was rapidly heading toward digital business models, but recruiting talent for its digital business “is not an easy task to do.”

How can financial services companies retain IT staff in digital era?

“We know from experience that the bulk of the digital talent available are millennials who prefer to move to tech and other start-up companies as the financial industry is perceived to be ‘scary’ as it is high risk and highly regulated in nature.”

Retaining executive-level or highly technical talent in an increasingly competitive pool of available talent was also problematic, as salary expectations increased rapidly, he said.

“This is not a good thing for businesses in the financial services industry, which needs greater stability,” the headhunter said.

Solutions to these concerns were addressed and discussed in detail.

If you would further information on recruiting and retaining employees please contact Monroe Indonesia’s Professional Division 

Monroe Indonesia posts jobs in the Technology, Consumer Goods, Health, Industrial and Professional Services divisions on a daily basis. Click here to find jobs 

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