Luxembourg Market Overview – Recruiting Top Talent
The Grand Duchy of Luxembourg – a small country landlocked by Belgium, France and Germany – is today a prominent financial centre.
With the decline of the steel manufacturing industry Luxembourg diversified and is now best known for its status as Europe’s most powerful investment management centre.
The Luxembourg market is booming, and with strong economic growth occurring in Luxembourg, there has been an increase in recruitment for Compliance, Risk and Legal professionals.
Brexit has definitely sparked an increase in recruitment across Europe, subsequently, many international firms have expanded their operations or set up new offices in Europe. Due to its dynamic nature, Luxembourg has become an attractive location, especially for Fund companies.
With the increasing opportunities in Luxembourg, professionals are often receiving multiple offers at once. This means that employers are having to compete on these offers, which in turn increases salaries across the market.
Packages are attractive in Luxembourg; many professionals are happy with their role and consequently are not actively looking. We have noticed that many of these passive professionals and top talent are not applying directly for roles, but they are still open to new opportunities. They just feel more comfortable working directly with a headhunter as this is a more discrete option, allowing them to gain a better understanding of the market and opportunities.
Overall with Brexit and the heightened pressure from the regulators, Luxembourg will continue to see an increase in recruitment for top-calibre Compliance, Risk and Legal professionals across Financial Services.
As it becomes harder to attract this talent due to the candidate shortage and inflation of salaries, the selling points of joining a new company would now have to focus on:
- Flexible work-life balance
- Clear career progression
- Shorter recruitment process
When the market for the best talent is competitive and when professionals are not actively searching for a new role, a recruitment “reactive” search strategy is not effective. A dedicated headhunter like Danos Associates uses a “proactive” method, where we use our extensive knowledge and comprehensive network of industry contacts to identify those hard-to-find candidates. We approach these prospects directly and discreetly, as these candidates are people employed and not actively seeking a new role but are the perfect fit for the vacancy. In addition, we can provide recruitment market insights, and we have a holistic view of remuneration packages across the market, so we are well-positioned to advise on competitive salaries. Using a specialist headhunter will enable you to fill your open positions with the best talent.
Danos Associates is ideally placed to support your recruitment strategies, we have a global network of talent. As a leading supplier of Compliance, Risk and Legal personnel to the financial services industry globally, we are extremely well-placed to find you the best candidates.
We use our experience and market knowledge to help you land the best people for your roles. Treating each client as unique, understanding the business requirements and advising on the best hiring strategies, to ensure you have the best and most appropriately experienced talent.
If you would like to find out more or would like our support or advice, please do get in touch.
