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Cutbacks at financial services institutions
October 24th, 2008 in Random musings
“High flying bankers told to cut back” screams the headline in a recent Business Times story. The article talks about how bankers are now told to fly economy class and do their own laundry and to forgo all those free spas. Well, that’s certainly not new. In every downturn, firms are told to cut back on these same things, directives which are then thrown out of the window once the boom times return.
What’s interesting to note in the article is a quote -“Some banks have introduced staff referral programs instead of going to <traditional channels>”. We are certainly fans of internal referral programs - that’s how we got the idea of Vawch in the first place. Let’s hope this means that recruiters would be more responsive to such programs in the future.