Executive Summary

There is no silver bullet when it comes to measuring demand in the U.K. financial services job market.

Over the years we have looked at everything from indices from recruitment agencies, aggregated job board data as well as government/ONS data. All of them are useful indicators but fail to offer an accurate reflection of what’s happening across Financial Services as well as individual and significant sub-sectors.

The City Career LAB & Rialto job market index captures data directly from corporate careers sites as a way of measuring jobs activity – specifically demand. It’s not perfect, but is perhaps the most accurate indicator of hiring demand in the U.K. financial services jobs market.

Each month we collect and analyse data from a broad and diverse basket of handpicked employers that represent a particular sub-sector of Financial Services in the U.K. These results which include all permanent and fixed term contract positions across all functions of the chosen organisations will be published on our website and LinkedIn – to show and explain the direction of the hiring market(s) from month to month.

 

Our observations this month include:

  • Hiring demand across UK financial services is up 1% overall after coming in down 2% last time out.
  • This represents a very modest uptick in demand for F.S. talent, which is a small positive coming as it does in the final few weeks of the year.
  • Notably, there were gains this month for Wealth & Private Banking (7%) and Insurance (2%), and Banking & Markets (2%), which were dragged down by marginal falls elsewhere.
  • In terms of Year-on-Year results – the overall index is 15% up versus this time last year and has been up YoY every month since June

As a reminder – the Job Market Index is intended to be the most accurate read on hiring demand in the UK financial services sector.

 

The indicators show:

Banking & Markets: Corporate & Investment Banking, Markets, Securities Services (excl. Consumer/retail) +2%
Investment management: Asset Management, Alternatives -8%
Insurance: General, Life, Reinsurance, Broking +2%
Wealth & Private Banking +7%
Fintech: Banking, Lending, Payments, Insurtech, Crowdfunding 0%
Information Services: Data Providers, Ratings Agencies, Risk -3%

It’s the most wonderful time of the year….to find inspiration in surprising places.

The festive season brings with it a host of traditions, both universal and personal to each household, friendship group and family. Among these traditions are the festive films enjoyed year after year. These movies don’t just warm our hearts and get us in the Christmas spirit, many also offer surprisingly astute lessons in leadership, strategy, and business acumen.

Watched through this lens, viewers can gain a whole new perspective and chance to reflect on their own leadership style – plus the perfect excuse to disconnect from work, switch off devices and settle down to spend quality time with loved ones. Here we look at a few of the classics and the insights we might glean from them.

 

Home Alone: Planning, Creativity, and Agility in Crisis

When eight-year-old Kevin McCallister is accidentally left behind as his family jet off on a Christmas holiday, he demonstrates remarkable ingenuity and courage defending his home against two bumbling burglars. The child gives a masterclass in quick thinking, resourcefulness, and resilience, qualities every executive needs in today’s unpredictable, volatile environment.

Kevin outthinks and outclasses his nemeses, innovatively deploying the resources at his disposal – including toy cars, an iron and paint cans – to stay one step ahead and protect himself and his home. Executives should adopt a similar mindset, making the most of existing assets and strategies to compete, even when rivals may appear to have the natural advantage. The themes of innovation and adaptability chime with business model transformation trends in today’s era of fast-moving Generative-AI driven developments.

 

Elf: The Power of Culture and Authenticity

Buddy the oversized Elf’s boundless optimism and commitment to spreading Christmas cheer might seem naive, but his authenticity and generosity of spirit transform those around him. For leaders, Elf offers a lesson in the power of staying true to your values, being prepared to show vulnerability and fostering an inclusive culture.

By creating a positive environment and being utterly genuine, Elf inspires a culture of collaboration and trust. Meanwhile, as an outsider, his unique perspective helps him bring fresh ideas to the table, illustrating the value of diverse viewpoints. His father, the buttoned up and authoritarian CEO played by James Caan, seems positively prehistoric next to Elf’s enthusiasm, openness and willingness to do things differently, a reflection of changing leadership styles today.

 

It’s a Wonderful Life: The Values of Community and Legacy

Many would call this the ultimate Christmas film. The 1946 Frank Capra-directed masterpiece sees James Stewart’s despairing banker, George Bailey, saved from the brink of suicide after giving his all to his business only to see it fail and potentially damage those he has sought to assist throughout his career. Two angels are sent to show him the positive impact he has had on his whole community and how different life would have been for so many had he never existed.

Bailey comes to understand that true wealth isn’t just financial or transactional, but also relational and communal. For executives, this underscores the importance of legacy and purpose in leadership and to maintain perspective and hope, even when things seem to have gone horribly wrong. It shows that honesty and transparency with stakeholders can help avert a reputational and financial crisis. The time, energy and thought Bailey has poured into his community is reciprocated when he is struggling. His customers, colleagues and friends remain loyal even through the most challenging times. The story teaches us to cultivate gratitude, take time to reflect on the sometimes-invisible positive ripples of our work, and build a strong corporate value based on trust and shared values, always considering the long-term impact of policies and actions. In business, nurturing strong relationships with employees, customers and the community can lead to enduring success. Recent trends indicate a shift towards work cultures that prioritise human well-being and organisational flexibility, recognising that strong relationships contribute to overall success.

 

The Muppet Christmas Carol: Embracing Change and Transformational Leadership

Last year, we presented the Rialto Executive Christmas Carol, exploring how senior leadership can learn from Dickens’ timeless story of redemption. This classic tale has inspired countless Christmas films, including many mentioned here..  Aside from the unsettling image of Kermit the frog and Miss Piggy having a brood of froglets and ringleted piglets, the Muppet version is as true to the original as any other, with Michael Caine as old Ebeneezer Scrooge going through a painful transition as he is confronted with the difficulties of his past and the impact it has had on his miserly behaviour in the present.

The story serves as a powerful reminder for leaders to embrace self-reflection and seek guidance from trusted mentors who can offer honest appraisals and actionable advice. Scrooge may be terrified of the realities revealed by his spectral visitors, but they give him the grace and humility to be able to rebuild sustaining relationships with those important to him in work and outside it. Scrooge also learns to value the people around him and show generosity, which will lead to strengthened business models and longevity and customer and employee loyalty and engagement.

 

Miracle on 34th Street: The Power of Trust and Reputation

When Kris Kringle is put on trial to prove he’s the real Santa Claus, he shows that belief and reputation can triumph over scepticism. Whether you watch the 1947 black and white original or the 1994 remake starring Richard Attenborough as the man in red and white, this sentimental staple reminds leaders to remain steadfast and believe in their mission and core values, even as they face multiple challenges.

Despairing the loss of the true seasonal messages of love and kindness amid the commercialism, greed and profit-making, Father Christmas comes to earth and gets a job as an in-store version of himself at a New York department store. In the more recent version, as he seeks to restore the spirit of Christmas, he gets caught up in a hostile takeover bid, a business rival’s campaign to twist the narrative in his favour through underhand means, and six-year-old Susan’s personal battle with her own faith.

Kringle unwaveringly insists that he is the real Father Christmas, despite facing a lawsuit and accusations of insanity. He is saved by the little girl’s demonstration of how people regularly place their trust in unprovable concepts, symbolised by the words In God We Trust on the back of a one dollar bill.. Between them, Kringle and Susan get the store owner, customers and community on board by staying true to their values of belief, hope, empathy, generosity, authenticity and understanding, all soft skills required increasingly by executives and senior leaders seeking to navigate through the complex business landscape where the practical and emotional needs of human stakeholders must be balanced with the demands of a fast-paced, high tech, competitive business landscape.

 

Die Hard: Strategic Thinking and Teamwork in High-Stakes Situations

The arguments can go on around whether Die Hard is truly a Christmas film (it is!), but what we can learn from Bruce Willis’s cynical cop, John McClane, are lessons in quick thinking, agility, strategy and the need to balance clear, independent thinking with trust and collaboration.

McClane gets caught up in a terrorist takeover of a company during its HQ Christmas Eve party and realises only he can save the day and the hostages, including his estranged wife who works there. It’s McClane versus a band of baddies, led by iconic high-cultured German Hans Gruber, played by a scene-stealing Alan Rickman.

Though he’s going solo vs the villains inside the gleaming high-tech skyscraper, he relies on the support and walkie-talkie guidance of an officer on the outside, Sergeant Al Powell, and must place his trust and his life in his hands. Nobody can do it all on their own.

Gruber’s men have planned their evil mission meticulously and know what they want and how they plan to get it – outnumbered McClane can only act by instinct, adapting to every move made by the tooled-up terrorists, showing how true leadership has the chance to shine when facing adversity and threat. McClane has to remain focused on his mission, alert to the changing risks and think on his feet. Of course, it all works out in the end and the shared experience reignites his relationship with his wife.

Executives will learn the most and develop fastest in highly charged, challenging situations and could learn from McClane by seeing potential catastrophes as opportunities for learning, change and building positive team dynamics. Through true collaboration and focus on a mission, organisations that are led by visionaries with courage, conviction and trust in their teams can get through almost anything.

 

How the Grinch Stole Christmas: Knowing It Is Never Too Late to Change.

Rubber-faced actor Jim Carey embodied the mean, green monstrous Scrooge in the film version of Dr Seuss’s Christmas classic. The Grinch chooses to live in isolation with his dog, Max, and hates the noisy, bright intrusion of Christmas from the nearby village of Whoville in the alley below, so decides to take it from them, removing every physical trace of the festival.

Of course, The Grinch has a backstory – he never had anyone special with whom to enjoy Christmas and therefore has been unable to understand its sentimental spirit or purpose.

But when the Whos rally together to salvage their celebration, even without the lost trappings of gifts, lights and general excess, the Grinch sees that it is so much more than indulgence and greed. So touched by the compassion, kindness and community he sees for the first time, his heart grows three sizes. He is big enough to admit he was wrong, return all the stolen gifts and join in.

As well as traditional Christmas messages which remind us every year to recognise what is truly important, family, friendship and sharing, the Grinch is a lesson for leadership in knowing when to admit you have been wrong or need to adjust or even abandon your strategy. No matter how far it has gone, how many resources you have devoted to a mission, executives must be open to change and really listening and responding to the views of the people it affects. Humility and compassion are keywords of modern-day leadership, not ivory towers and unilateral decision-making. Instead of looking down on those below, executives and senior leaders should be among the people upon which their organisations are built, truly understanding what makes them want to be part of their community, or they – employees, customers, partners – will move on and carry on.

It is all too easy to lose sight of our purpose, mission and even humanity amid all the commercial and organisational pressures and demands that rarely let up in today’s highly pressured and unpredictable business landscape.

 

Use the festive season to find inspiration in places you perhaps never thought to look. The very act of mindfully considering these lessons helps to ground us. Taking time to reflect on the weight of our responsibilities, the impact of our decisions on individuals and communities, and the reasons we do what we do—our motivations and rewards, both practical and personal—is not only restorative for the soul but ensures leaders stay relevant and focused on the purpose behind their work and their organisations.

As the year draws to a close, we at Rialto wish all our clients and partners a peaceful, reflective, and joyful festive season. May this time bring connection, renewal, and a fresh perspective for the year ahead. We also hope you find joy in watching your favourite seasonal films with a (post-ghosts) Scrooge-like sense of gratitude and inspiration.

We look forward to resuming our rewarding work with you in the New Year.

“Planning without action is futile; action without planning is fatal.”

So said Cornelius Fichtner, a Swiss project management expert. Successful leaders understand that their careers and roles within organisations are ongoing projects that constantly needs to be consciously managed, adjusted, aligned with ever evolving strategic objectives, market forces, emerging trends and technological developments.

For executives looking to maintain their career on a positive, upward trajectory – whether pursuing a new role, growing within an organisation, or preparing for a significant step up – taking the time to reflect on personal goals and crystallising a structured vision of how to reach them by setting clear actions is key to success.

Breaking down that strategy into quarterly plans gives a practical framework to improve personal performance and retain a dynamic role in pushing for organisational growth and success.

The wind down to the end of the year and the run-in to Christmas can therefore provide the perfect opportunity for reflection and forward planning.  Executives who make this an annual practice gain clarity on what they aim to achieve, why those goals matter, how they intend to accomplish them, and what or who is needed to make them a reality. This intentional approach minimises wasted effort and maximises returns by focusing resources on meaningful priorities. Leaders who act with purpose and vision inspire confidence in their workforce and stakeholders alike.

In the first of this two-part blog series, we focus on practical steps that executives can consider to set the stage for personal and organisational success over the first two quarters.

Q1: Reflect, Assess, Set Goals.

Reflect: The start of the year often brings a renewed sense of energy and resolve. Teams return refreshed and focused from a break, making it an ideal time for leaders to refocus their efforts. The perfect time, then, to reignite and engage with key stakeholders to understand their expectations, challenges and opportunities and galvanise them into action and aligning objectives.

Asses: Reevaluate and carry out a SWOT analysis (strengths, weaknesses, opportunities, and threats).  Define both short-term and long-term career goals. Tools such as 360-degree feedback, personality assessments, and executive coaching can help shape a 12-month personal development plan with clear, actionable goals.

  • Benchmark Skills: Compare existing skills against emerging opportunities and challenges. Identify areas for improvement, particularly in soft skills such as emotional intelligence, agility, and creativity, which are increasingly crucial in the AI-driven era.
  • Schedule Development: Make time for training, conferences, or coaching. Populate your calendar with key events, manage conflicts, and work your projects around them
  • Prioritise: Once you have a view of the coming months, you can set priorities and deadlines, Write a list of the most pressing demands on your time: what needs doing now, what can be delegated, what can wait?

Set Goals

Once objectives are defined, executives can lead team discussions to review successes and challenges from the previous year. Honest and active listening fosters collaboration, allowing teams to collectively identify potential roadblocks and opportunities.

  • Explore New Markets: Evaluate how emerging trends, like AI, can enhance operations or open new avenues.
  • Communicate Vision: Share objectives and inspire the team with a clear vision of the year ahead, ensuring alignment with organisational goals.
  • Plan Talent Needs: Identify skill gaps and strategise whether to upskill current employees or bring in new talent. Build workforce confidence by highlighting how new technologies will enhance their roles and benefit the organisation.

 

Q2: Build Your Personal Brand, Communication Skills & Strengthen Relationships.

Branding

A strong personal brand is crucial for executives aiming to stand out. This involves defining a unique value proposition and aligning it with communication style, online presence, and professional networks.  Think carefully about how you wish to present yourself and the purpose of your communication. Are you looking to attract the right talent or partners? Gain a promotion? Stand out in your field? Attract or assure investors? Adjust your language content and tone accordingly with the end goal in mind. You may wish to work with a mentor or coach for an objective view.

  • Online Presence: Do optimise LinkedIn and other relevant platforms by sharing thought leadership content. See our previous insights on elevating LinkedIn profiles and networking effectively.
  • Networking: Stay active in professional organisations and leverage opportunities to expand influence and connections.

Whether you are in the market for executive transition, executive outplacement or you are seeking to establish yourself in a new or current position, stakeholders, employees and employers, current and potential, need to understand who you are, what you represent and why they should place their faith in you.

Communicate:

Effective communication is a cornerstone of leadership success. Plans, no matter how robust, can falter without clear articulation. Executives must refine both their digital and interpersonal communication skills whether seeking a promotion or a new opportunity, or presenting an organisational strategy to the board or other stakeholders.  The way you present and express yourself could mean the difference between success and failure.

  • Transparency and Updates: Develop a plan for regular, transparent communication using emails, videos, or meetings. Provide updates and implement channels for feedback.
  • Public Speaking: Hone skills in presenting to diverse audiences, both in person and online. In today’s business landscape, personality and likeability are more important than ever. While some have a natural affinity for public speaking and presenting, others may need professional coaching help improve confidence and delivery.
  • Non-Verbal Skills: With increasing proportions of meetings held online, mastering the art of creating engaging presentations and holding the attention of people who may all be sitting separately in front of laptops in different time zones around the world is an additional challenge. Focus on body language, not just tone, to build trust and engagement.

Strengthen relationships:

Strong relationships are the foundation of effective leadership. Executives should prioritise key connections—whether with team leaders, clients, or stakeholders.

  • Review and Follow Up: Revisit unresolved issues or recent communications to ensure alignment on next steps or actions needed. Schedule meetings with key stakeholders to maintain momentum and address emerging concerns.
  • Support Teams: Collaborate with HR and managers to identify and support struggling employees, celebrate high performers, and mitigate risks of losing top talent.
  • Encourage Feedback: Maintain an open dialogue to foster trust and identify challenges at the earliest opportunity, sharing your vision, identifying challenges and explaining how you plan to overcome them, to foster trust and openness. Invite feedback and respond positively.

By weaving these practices into their routine, executives position themselves for success going into the final two quarters of the year. They will have enhanced personal performance, strengthened relationships, and ensured their teams are aligned with strategic objectives. With clear KPIs in place, they can adjust plans to navigate challenges and capitalise on new opportunities.

Rialto Consultancy and Rainbird Technologies Announce Strategic Partnership to Deliver Transformative AI-Powered Solutions

Uniting AI-powered decision intelligence and expert-guided transformation to elevate business success.

London (UK), May 22nd, 2024 – Rialto Consultancy, a leading global provider of change management, organisational transformation and multi-level employee career transition solutions, and Rainbird Technologies, the pioneering Decision Intelligence platform, today announced a strategic partnership to bring groundbreaking AI capabilities to enterprises.

This alliance combines Rainbird’s advanced, explainable AI technology with Rialto’s deep expertise in guiding organisations through complex people-oriented change initiatives. Together, the two organisations will empower clients to harness the full potential of AI to drive innovation, improve decision-making, and unlock unprecedented business outcomes through a compelling joint solution focussed on considerate AI adoption and workforce upskilling and transition priorities.

“We are thrilled to partner with Rainbird and leverage their cutting-edge decision intelligence platform,” expressed Richard Chiumento, Rialto Director. “By integrating Rainbird’s AI-powered insights and automation into our comprehensive people focussed change management solutions, we can help our clients navigate transformation with greater speed, precision and transparency.”

The partnership will focus on a joint go-to-market strategy, enabling Rialto to seamlessly incorporate Rainbird’s solutions into its portfolio of services. Clients will benefit from a unified value proposition that combines Rialto’s expertise in areas such as talent development, change communication, global career transition employee upskilling, with Rainbird’s ability to digitise human expertise, automate complex decisions and provide auditable explanations for AI-driven outcomes.

“Rialto’s deep understanding of organisational change and their proven track record of driving successful transformations make them an ideal partner for Rainbird,” emphasised Rainbird CEO, James Duez. “Together, we will empower enterprises to embrace AI-powered decision-making that is aligned with their strategic objectives and values.”

The partnership will initially focus on joint go-to-market efforts in the United Kingdom, with plans to expand into additional global markets in the future. By leveraging each other’s strengths, Rialto and Rainbird are poised to redefine the way organisations navigate change and harness the full potential of AI.

 

About Rialto Consultancy

Rialto Consultancy is an award-winning global provider of change management and organisational transformation solutions. With a focus on talent development, change communication, global career transition and employee upskilling, Rialto partners with enterprises to guide them through complex change initiatives and unlock their full potential.

For more information, visit https://www.rialtoconsultancy.com/.

 

About Rainbird

Rainbird’s revolutionary Decision Intelligence platform is transforming enterprise decision-making with trust and explainability at scale. For over a decade, Rainbird’s AI platform has enabled organisations to digitise human expertise into enhanced, yet transparent, extended knowledge graphs. Their advanced reasoning automates complex judgments at scale while providing auditable rationales behind each outcome.

For further details, explore https://www.rainbird.ai.

 

Press Contact

Rialto Consultancy: Justine Smith, Press@Rialtoconsultancy.com

Rainbird Technologies Ltd: Sabu Samarnath, sabu.samarnath@rainbird.ai