Newspaper article The Evening Standard (London, England)

Fight for Space Hots Up

Newspaper article The Evening Standard (London, England)

Fight for Space Hots Up

Article excerpt


THE Corporation of London has recently announced plans for a number of developments in and around the City which could see London's financial district grow by more than 10 million square feet of office space.

This expected future expansion owes much to the demand from international banks for space, and is an effort to stem the tide of international banking and finance institutions which have been finding new homes in the City's rival district, Canary Wharf.

Moreover an expansion of this size should go some way to ensuring that the City of London maintains its place as Europe's most important financial centre.

With this demand for more space, once it arrives, there will come a demand for more people.

Most of the City's recruiters already confess that the search for skilled and talented people for the region is already a tough one and that a newly-expanded City will see the war for talent intensify. While most will be more than happy to see the City grow, and jobs with it, the future will clearly be challenging.

"These proposed expansions are positive and re-emphasise the City's position as the world's leading financial centre," says Matt Conningham, manager of the banking division at David Chorley Associates. "However, if the new space is to be filled with new talent, employers have to ask themselves where that talent is going to come from. DCA employs some of the most innovative candidate resourcing techniques in the recruitment market but obviously we cannot 'magic' candidates if they do not exist.

"Employers hoping to fill this space should be aware that the 'war for talent' is far from over and that shuffling people from company to company may not be enough to fill 10 million square feet. I think that good recruitment consultants will be bringing some 'old chestnuts' into play with their clients - training and flexibility about the client's request for experience levels, qualifications and the like.

"Obviously, a solid base of experienced people will be required but there are plenty of good individuals in the City with limited experience but lots of potential, whom employers would do well to consider if they want to fill that space quickly and efficiently. …

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