As we get into 2023, it’s fascinating as a recruiter to see the changes in what attributes clients are looking for in candidates this year. Companies will obviously always look for attributes like intelligence, people skills and work ethic, but the last few years and COVID have had a profound effect on what companies are looking for in a candidate to meet today’s challenges.

Here are 5 trends we at B&K Consulting have noticed that high-performance companies need and look for in candidates joining their businesses.

When   you mention the word “commercial” people naturally think of sales and selling but commercial awareness is knowing how the business you work for makes money, and also your individual role in that happening. Even if you’re in an analytical or operational role far removed from front-end sales, companies now want people who are aware of business performance. Being detached from how your business is performing means you could be more expendable if times get tougher, as you are less connected and less aware of your personal value add. 

We increasingly see functions like Risk & Compliance involved in meetings around what a business proposes to do in the future, not just solving problems of the past. Candidates who express knowledge of what the company does and ask good commercial questions usually impress (if done the right way) and it could give you an advantage over other candidates going for a role.

The COVID years were actually very good for many businesses – people were at home with money to spend and it meant certain parts of the financial services market prospered and grew – both profits and staff. Now with interest rates and living costs through the roof, businesses may be impacted as people spend less and they are now looking for resilient employees who can provide solutions and work-rate when they are not in a continuous growth cycle. Businesses will likely look inwardly at costs and the pressure to perform may go up. Candidates who can show that they are not afraid of digging in are increasingly important in this market and I suspect this will continue to be this year.

With the increasing pressure which comes with a shrinking / more competitive market, companies are definitely looking for staff who can contribute ideas and improvements to the way the business works. As with a commercial mindset, you don’t need to be C-Suite to bring innovative ideas to the table and it’s up to your employer as to whether they use those ideas.

We are currently working with some great clients who have changed their business strategy and the way they work on the recommendation of staff internally and it’s gained them some great results. Only having top-down ideas is old school, and companies are now increasingly asking questions about innovation and thinking differently when bringing new staff on.

4. LIKEABILITY

I’m aware this is not a real word but you know what I mean and so does every recruiter. Candidates who gel with others and add to or create a positive culture are hugely in demand. Some businesses have suffered culturally because of staff working from home (maybe still are) and that means they are reliant on new hires providing warm, positive energy and renewed effort. Such was the desire to cash in on the market in recent years, some companies hired on skills and track record regardless of personality and we see that is starting to have an impact. Companies need likeable people who can build strong relationships if things get harder, that’s the type of individual you want in the trenches next to you.

The world is changing, and so is business and people need to be able to adapt more than ever. Before COVID, change was less prevalent but now it’s normal and candidates need to be change agents who can adapt and thrive in differing conditions. In our world, life insurers and superannuation funds are merging, banks and lenders are making redundancies and investment firms are still growing rapidly and all of this means change and more change.

James Baldwin once wrote; “not everything that is faced can be changed, but nothing can be changed if it’s not faced”. Candidates in 2023 need the skill of identifying change opportunities and the self-confidence to raise it to their employer. One of our consultancy clients asks a number of questions about adapting to change in interviews, and it’s no surprise as being unable to cope with change is why their clients often need them.

There will obviously be other attributes that businesses look for in 2023, but from what we’ve seen over the last 2 months, these are 5 areas that will potentially help you as a candidate going into the 2023 job market. The best companies know how to assess this in interviews and those who acquire the best talent I believe will continue to flourish.

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We are an Australian-based wealth management recruitment firm. We specialise in recruitment for  banking & credit , superannuation, life insurance, and investment professionals. The consultants at B & K Consulting are also active participants and contributors in leading industry forums in Wealth Management, such as ALUCA, ANZIIF, ASFA, FSC, FEAL, and CFA Society. If you are interested in learning more about how we are involved and what types of roles we have available or are looking for new talent, please email us at  future@bkcon.com.au  or call us at 02 9888 7888 for more information.  Visit our job listings for current opportunities.