“As business leaders set their sights on growth, they’re recognizing the need to develop their leadership. It is incumbent on them to prioritize their people and create stronger connections with the people who work for them, if they want to engage and retain them.
Today’s individuals want trust, social cohesion, purpose, and growth. They want their own sense of purpose to align with that of their organization. And they want a supportive physical and digital environment that gives them the flexibility.” – Bert Miller, President & CEO, MRINetwork
The number of financial job vacancies in London surged beyond pre-pandemic levels in late 2021, signaling that recruitment in the sector has fully recovered from the COVID-19 crisis. The latest Morgan McKinley winter recruitment monitor, which details hiring trends across London’s financial industry, showed 40% more financial service jobs available in the fourth quarter of 2021 than in the same period of 2019, before the COVID-19 pandemic hit the economy and put the job market on hold. Last year, more than 32,000 jobs in finance were created in London, around twice as many as in 2020, supported by a spike in the second quarter as Britain’s vaccine programme allowed more people to return to the office.
“In broad terms, the job numbers continued to reflect an encouraging recovery from the impact of Brexit, furlough scheme, pandemic, and lockdowns,” said Hakan Enver, managing director at Morgan McKinley. He added that growing fintech investments in London lent a hand.
Half of the financial service sector’s economic output in Britain is generated in London, and employers are having to offer more flexible working and competitive pay amid a war for talent. While the overall UK labour market remained tight in 2021 as many employers struggled to find staff, London saw 34% more people looking for a new job in financial services compared to 2019, Morgan McKinley said.
According to TechAsia.com, Southeast Asia’s tech scene isn’t the wild west it used to be. Maturing markets, repeat founders, and a digital-savvy customer base are transforming the region into a global hub for innovation. Despite last year’s upheavals, Southeast Asian startups raised over US$8.2 billion in capital, and they are predicted to achieve a combined value of US$1 trillion by 2025.
Unlike more mature markets like China and the US, processes and infrastructure in Southeast Asia are not as defined, leaving plenty of room for startups to experiment and innovate with new solutions tailored to each market. For example, travel startup Traveloka expanded its range of payment solutions to include cash and buy now, pay later options to support Southeast Asia’s significant unbanked population.
Despite the promise Southeast Asia holds for companies looking to expand, startups still have to grapple with pain points, many of which can be seen throughout the region’s various ecosystems. The shortage of tech talent is one of the major hurdles that startups face, especially for foreign firms looking to expand into Southeast Asia. It’s estimated that by 2030, Asia Pacific will be short of the 47 million tech talents needed to meet growing demand.
Read the full story at Singapore is opening the doors to Southeast Asian tech expansion | Tech in Asia.
Despite the impact of the COVID-19 pandemic, Latin American leaders expressed optimism for the region’s economic outlook in 2022 at the World Economic Forum last month. Latin America posted a solid economic recovery in 2021 and will most likely post moderate growth in 2022, as many countries continue to implement fiscal, social and health policies for a sustainable recovery from the pandemic. The region was one of the hardest-hit by COVID-19 but has turned things around with successful ongoing vaccination programmes.
The leaders agreed that connecting the region is key to Latin America’s future outlook. Several of the countries, including Ecuador and Guatemala, have signed new trade agreements with Mexico, indicating that it will open up free trade in the Pacific and their economies to foreign investment.
The environment is another area that has seen increased regional cooperation. Ecuador recently signed a decree to expand a new marine reserve and protect an area north of the Galapagos Islands. The expanded area will eventually link the Galapagos with Panama’s Coiba islands, Colombia’s Malpelo and Costa Rica’s Coco islands.