Jump to content
  • Eva Keogan
    Eva Keogan

    Sign in to follow this  

    The AlgoMe Industry Pulse report is published today

      Time to read: 4min

    2018 was always going to be an interesting year. Kicking off with MiFID II, moving to GDPR in the late Spring and of course this Summer brought a surprise World Cup Semi Final and a blistering heat wave (but a still-stagnant Brexit) suffice to say, it’s been a busy time all round.

     

    At AlgoMe we think it’s really important to understand what our wider community is thinking and to get under the skin of the burning issues for 2018.  As result we’ve created The AlgoMe Industry Pulse report which we’ve published today. It has looked into these key issues and themes, from regulation through to Brexit, unearthing some interesting and useful insight. We found optimism and change, along with a level of insecurity too.

     

    What drove these varied responses? Well optimism came in the shape of the 59% who believe Gender Pay Gap Reporting will improve the career progression of women whereas change with learning MiFID II and GDPR is affecting around two thirds of people. Conversely Brexit is creating uncertainty on a number of levels – people want to stay in London, but they’re concerned about their jobs and whether their companies will move away. 30% of those surveyed felt Brexit is a risk to their job security. While 68% believe their companies will stay in the UK, only 54% of individuals said they will definitely stay put versus 27% who are actually considering relocating. When it comes to relocation people chose Dublin, Paris and Amsterdam as the top three choices of European cities to move to. Additionally, regulation will take add to felt insecurity this year with MiFID II impacting 64% of people’s roles and GDPR 60%. Diversity in the workplace is considered important by 64% with 20% remaining neutral and 16% in disagreement, demonstrating there is still a lot of work to be done in both these areas.

     

    We’ve developed 5 key insights which summarise the in depth research:

     

     1. Job confidence pre-Brexit: A workforce in need of reassurance

    Industry and government need to act fast to gain the confidence of the sector as 30% are feeling insecure about Brexit and believe their jobs may be in jeopardy.

     

    2. Will London remain the financial centre of Europe? Best to leave the lights on post-Brexit

    The City is definitely open for business; our industry sector is loyal to London and a majority of workers want to stay here post Brexit.While 27% of respondents expressed they would move as a result of Brexit and 14% of felt strong about this, most people (54%) would not consider moving as a result of Brexit, whereas 68% believe their companies will remain in the UK.  There’s no clear leader in Europe to replace London when it comes to the most desirable places to relocate to and work from; Dublin was the top location (25%), followed by Paris (21%) and Amsterdam (19%).

     

    3. Regulation is a necessary inconvenience:

    Undoubtedly 2018 is a big year for the regulatory calendar and this is having an impact in the short and long term, so we expect temporary upheaval while MiFID II and GDPR are bedded into to working practices

     

    4. Gender Pay Gap – Unwelcome truths for some, seen as much needed by the majority:

    The implication for Gender Pay Gap Reporting is, it will continue to highlight industry inadequacies for some time; transparency and action should expedite change

     

    5. Diversity – More change afoot needed to accommodate a changing workforce:

    Diversity will need to be top of the agenda across the board to effect meaningful progression across the industry

     

    We hope you enjoy this latest report and find the insights valuable to yourselves as professionals, you can download your free copy here.



    Sign in to follow this  

    Share this  

    Member Feedback



    Recommended Comments

    There are no comments to display.

    Become a member to read more and join the discussion

    Members can read and contribute to discussions

    Apply

    Register now for free access.

    Create your account

    Sign in

    Already a member? Sign in here.

    Sign In Now

  • Related Content

    • Jonathan Max
      By Jonathan Max
      Join the City AM Club for the first of our City AM Decodes: Diversity and Inclusion series hosted by Julia Streets, of DiverCity Podcast which explores  diversity, equality and inclusion in financial services.
      Increasingly proven to positively impact the bottom line and drive commercial performance, there is a growing awareness of the contribution D&I can make, and plenty of evidence of positive progress.  Those embracing the change are benefiting from a real competitive edge, yet elsewhere in the industry progress is slow and attitudes often intransigent and resistant to change
      Today responsibility for D&I sits very firmly on the shoulders of all leaders, managers and rising stars, whatever their discipline, and they need to understand and embed it in their leadership style, philosophy, business, talent and performance planning.
      In this series, we will expose the reality, wrestle with the complexity and engage in debate with industry leaders, commentators and practitioners leaving our audience with a whole host of practical ideas designed to drive change and gain an edge.
      Hosted by Julia Streets, Founder and CEO, Streets Consulting Ltd & Host of DiverCity Podcast series
       
      https://www.cityam.com/event/city-am-decodes/
       
    • AlgoMe
      By AlgoMe
      INVITATION: OPPORTUNITIES AND THREATS FOR ASSET MANAGEMENT – A DISCUSSION AROUND FINTECH, SKILLS AND APPRENTICESHIPS

      FSTP LLP in partnership with AlgoMe invite you to a lunchtime round table discussion on the most pressing issues in today’s industry; digital skills shortage and the Apprenticeship Levy

      Date: Tuesday October 22
      Location: WeWork, 1 Fore Street Avenue, Moorgate, EC2Y 9DT
      Time: 12.15 for 12.30

      Introducing your hosts:
      FSTP LLP, a Main Provider for Apprenticeships offering Financial Services, Leadership and Management Apprenticeships, will be on hand to share insights and experience

      AlgoMe, the community for the Investment Management industry, connecting professionals from Asset Managers, Wealth Managers and FinTechs with their wider industry ecosystem will be on hand to discuss skills and transformation in the industry


      The event:
      12.30
      Your co-hosts Rob Carter and Andy Milner, AlgoMe will give an overview of demand for retraining and tech skills, based on the latest AlgoMe report; The Disrupted Career: FinTech, Innovation and The Future Of Careers In Investment Management Followed by Philippa Grocott and Nicola Spennati from FSTP LLP, will give an overview of opportunities for using the apprenticeship levy and how to do so effectively within the industry sector
      12.50 – 14.00
      Group discussion over lunch
      Key points for discussion:
      FinTech, Innovation and the growing digitisation of Asset Management mean technology skills are becoming more important to firms There is pressure in the industry from regulation and changing customer expectations in addition career paths are changing and becoming less predictable Automation and AI will make traditional roles redundant and up to 40% of the workforce will require retraining in the next 5-10 years There is over £3bn of unspent apprenticeship levy funds which are set to be returned to the Treasury if they remain unspent This money can be used to help meet these challenges by retraining existing staff, up-skilling new joiners and re-skilling returners after career breaks There are rules around how the levy can and can’t be spent Companies need to have in place an effective strategy to ensure that not only the rules are met so that the funds can be recovered, but that the needs of the individual and the wider business benefit are met
    • Andy Milner
      By Andy Milner
      An interesting read from TheCityUK, which highlights the lack of diversity and need for more FinTech skills as being key challenges across FS.
       
      Financial Services Skills Taskforce - Interim report | TheCityUK
      WWW.THECITYUK.COM  
Debug
Debug info:
You may be asked to provide the below information to an AlgoMe administrator if you are facing any problems with the app:
appcms
modulepages
controllerpage
topics/forum ID45
page ID
PHP user agentCCBot/2.0 (https://commoncrawl.org/faq/)
ThemeAlgoMe v2.1.1a
Mobile appNO
Member ID
×

We use cookies to give you the best possible experience. If you continue, we’ll assume you are happy with this. For further information, see our Privacy Policy.