Article Archive

Cost-effective recruitment solution developed for mortgage and finance industry

Media Release

The Finance Broker Association of Australia (FBAA) has partnered with leading recruitment provider, The Brooklyn Group, to develop FinanceStaff.com.au, a web-based recruitment solution dedicated to the Australian mortgage and finance sector.

The initiative, which is the first of its kind for the industry, has been specifically designed to assist companies operating in the sector to source quality staff more cost-effectively.

FBAA National President Peter White said FinanceStaff.com.au is a service which addresses the recruitment needs of all participants in the mortgage and finance industry.

“The site caters for all industry participants - from lenders, originators, aggregators through to brokers and beyond,” Mr White said.

“We partnered with The Brooklyn Group and undertook the initiative in response to the industry’s concerns relating to costs associated with sourcing the right staff for their business.

“The cost of engaging a full-service recruitment consultancy can be substantial and given the vast majority of firms operating in the industry are not large multinationals, this cost can be prohibitive.

“With an increasingly tight job market there is also upward pressure on the cost of recruiting staff with consultancy rates on the rise. This new service allows firms to better manage spiralling recruitment costs and ease the challenge of sourcing high calibre staff”.

FinanceStaff.com.au is unlike traditional job boards as it is driven by purpose built software and managed by professional consultants that combine to match job openings with suitable candidates. Once a job has been posted on the site, applicants are ranked and an active shortlist is produced that the employer manages with assistance from a team of specialist consultants. The two parties then work together through the entire recruitment process – from arranging and managing the interview through to the offer of employment.

For candidates, there is no charge to submit their resume and they are notified of suitable roles by email or they can directly apply for positions of interest. The process is strictly confidential, with all identities protected until the process is well underway.

Posting jobs on the site is free for employers if they are FBAA members or there is a nominal fee for non-members. Once a job is posted, employers will be charged a small fee should they wish to view the resumes of candidates on their shortlist and commence the consultancy process. Once interviews have been held and a candidate has been employed a placement fee is levied.

“The fee structure has been geared to show considerable savings over conventional options. We’ve run a comprehensive cost comparison and we estimate FinanceStaff.com.au would only be around one-third the cost of using a full-service recruitment consultancy.

“With an extremely tight job market and record low unemployment it can be very difficult to source appropriately qualified staff. The industry has expressed their concerns in relation to the time and costs associated with recruitment and together with The Brooklyn Group we are taking a proactive approach in providing an effective solution,” Mr White said.

Please contact Matt Paterson on 0402 140 757 with media inquiries.