A Report on Employment Trends in the Financial Services Sector:
London, Middlesex, Elgin, Oxford, Huron and Lambton
INTRODUCTION
- The financial services industry plays an essential role in the
everyday lives of Canadians. This sector not only provides a large source
of employment for many workers but is also an important contributor to the
economic growth and stability of our country. This report examines
employment trends in the financial services sector in London and the
surrounding five county region: Middlesex, Elgin, Oxford, Huron and
Lambton. The goal of this report is to assess the demand in various
occupations throughout the industry in the years ahead. Specifically, we
are interested in identifying jobs or occupations that are likely to be
hiring or seeking new recruits as well as those which may provide fewer
jobs in the future. The report is intended to serve as a guideline for
those seeking employment or retraining in the industry by pooling the views
of experts in the industry with respect to skills, education, and training.
- To gather the information needed, we contacted employers and industry
commentators in the five county region in order to gain an understanding
of their perceptions regarding current issues surrounding employment,
training, recruitment and the industry in general. In most cases, our
interviews were conducted with managers, human resource professionals,
or the individuals who were best acquainted with the hiring and training
practices of the particular company or firm. Our interviews focused on the
current and future economic prospects for the industry, the situation of
their organization, the skills and educational credentials required of
employees, as well as trends that may affect employment and the way jobs
are done within the industry. We also asked our interviewees to identify
the traits or characteristics they would most value in new recruits and to
provide some advice to those who may be considering a career in financial
services. Our goal in this report is not to list current job vacancies,
but rather, to provide a long-term profile of employment trends within
the industry. Given the transformations occurring in the financial services
sector, it is our belief that persons considering employment in the
industry need to look at the longer term outlook when making decisions
about building a career in financial services.