Malta’s financial services industry has grown significantly in recent years and represented some 12 per cent total contribution to the GDP in 2015.

The workforce in this industry is over 12,000 full-time employees, but according to a skills survey carried out by the MFSA in 2015 around 70% of the respondents struggle to fill their vacancies, with the strongest pressure points being in finance, compliance and IT, leading to recruitment process outsourcing.

HR Managers have a huge challenge in developing a recruitment strategy with a focus on measurable and sustainable results in a competitive market in Malta.
In some cases, they turn to more than one recruitment agency and somehow manage to fill vacancies, not necessarily on time and in line with the business needs.

Some agencies, mostly abroad, besides assisting HR Managers in their recruitment drive, offer Recruitment Process Outsourcing (RPO), a flexible and scalable method that will secure talent according to business needs. Particularly if this is well planned in advance, such an approach will broaden the options for finding and managing talent, forecasting workforce needs, balancing headcount to meet business demand, as well as accelerate competitive advantage and business growth.