Luxembourg remains an attractive place to work
Working in Luxembourg: A Smart Career Move? This was the topic of a round table organized by Luxembourg for Finance and the Luxembourg CFA Society at the Luxembourg Chamber of Commerce and moderated by LFF communications officer Christian Welter. The panelists – human resources managers from the financial sector as well as representatives from recruiting companies – were unanimous to remove the question mark. Luxembourg definitely offers great job opportunities, all the more that recruiting, namely of investment professionals, has speeded up after the financial crisis.
Luxembourg needs to upgrade its platforms in order to make the operational edge it has reached sustainable. The recent financial crisis has lead to restructuring measures in quite a number of companies, so that many of them are now looking for qualified people for senior and specialist positions.
However, human resources managers, as well as recruiters, stress that it has become more difficult to find the appropriate qualifications. The Luxembourg financial sector permanently reinvents itself, and the financial players are looking for people that are ready to change.
On the other hand, the crisis has changed people’s minds. Changing a job for money is no longer a good move. Professionals have become more reluctant to give up a position for a new one, and companies need a very strong business case to make people move.
This might partially be due to the fact that most Luxembourg based companies – be it in or outside the financial sector – still need to do a lot in terms of employer branding. There is no direct link between a corporate brand and an employer brand, and it takes much more than colorful brochures to become an attractive employer.
What does all this mean for job seekers? Well, investing in education becomes more and more important, and since candidates interested in a career (not only in the financial sector) need to differentiate themselves, they should seize all opportunities to improve their professional qualifications.
University degrees and a CFA diploma, a worldwide standard based on practical skills, are certainly important for job seekers, but soft skills are also gaining in importance rapidly. A large network and social capital are now valuable assets. Job seekers are also well advised to take care of their net reputation and of how they present themselves online. Even if social media did not dramatically change the recruiting business, recruiters definitely use social media platforms to gather information about candidates at literally no costs. JJP
* The participants of the roundtable were: Nathalie Bausch, Head of Human Resources, Deutsche Bank Luxembourg S.A.; Courtney Charlton, Director, Greenfield; David Kitzinger, Executive Recruitment, Badenoch & Clark; Julian Presber, Co-ordinator, Relations with the Financial Centre, Luxembourg School of Finance (LSF); Christian Scharff, Partner in Advisory, Human Resource Services, PwC Luxembourg; Eric Verleyen, CFA, Chief Investment Officer, Société Générale. JJP
(copyright photo: Geoff Thompson, myMOSAIK.lu)