You would be forgiven for thinking that a CEO doesn’t concern himself so much with recruitment and attracting talent. Even if that were true, it’s not how we’re set up at SFS. Our secret sauce is that all levels of the company get involved in discussions on rising talent, how to nurture young people, and how to retain them.
PROFILE
• 30 years in both the UK and European financial services industries
• Co-founder of Deutsche Leasing UK & Ireland
• Joined Siemens Financial Services (SFS) in 2010 as the Director of Business Development and was tasked with the diversification and progression of the commercial finance division in the UK
• Appointed CEO, Commercial Finance, SFS UK in 2017
• Keen advocate for sustainability and passionate about attracting new talent into the industry.
What do young people really want?
Clearly, fresh perspectives and innovative thinking will help us to get through the many moving parts around us – from new technologies to changing market dynamics. Our commitment to nurturing the next generation of professionals means they are equipped with the skills and mindset necessary to thrive.
To start with, we need to understand the ambitions and motivations of the new generation (without taking generalisations too seriously, and while questioning the statements often presented as fact). After all, the world of work of today is vastly different from 30 years ago. The traditional 9-to-5 office day has given way to flexible and remote working, and young people today are more likely to prioritise wellbeing and purpose in their careers over salary considerations. One survey has revealed that almost 57% of young people would be unwilling to pursue a job that they did not enjoy, even if it paid well.[i]
Too often, members of my generation are quick to dismiss Gen Z as lazy and work-shy. In reality, they have simply developed new expectations of what the working world means to them – placing greater value on happiness at work and setting healthier expectations for work-life balance.
Maybe the new generation brings new skills? As one report on Gen Z in the workplace puts it, Gen Z “have high expectations for their careers, are willing to work hard and have an ability to flex which we feel could transform the way we all work.”[ii]
What’s the best piece of advice you’ve ever received?
“If somebody offers you an opportunity, be prepared to take it. They obviously believe you can do it and are invested in you making it a success!”
Julian Hobbs,
CEO, Commercial Finance, SFS UK
Personal growth for business growth
Attracting young talent into the industry has always been high on my agenda, and I’m especially proud of our apprenticeship programme. Rather than setting grades and academic achievement as the sole barometer of potential, we must invest in the education and training necessary to let talent grow – nurturing a growth mindset, a ‘must-have’ for career progression. Dedicated feedback and learning programmes create a common purpose and direction too – which in turn boosts motivation.
Coupled with this investment, an environment and culture where people feel included, engaged and empowered, more than pays for itself. This is backed up by the fact that, according to one report, Gen Z ranked ‘company culture and colleagues’ as the most important thing to consider when selecting a role[iii]. We have taken this to heart and the results speak for themselves. Over the last five years we have retained the vast majority of our early careers professionals in the business. These individuals have gone on to be promoted into more senior roles.
AI alert
Biggest pet peeve?
“Unnecessary bureaucracy and rules as opposed to good governance. Especially when used to stifle creativity and entrepreneurial behaviour.”
Julian Hobbs,
CEO, Commercial Finance, SFS UK
More recently, Artificial Intelligence has entered the conversation. In a US survey, half of Gen Z respondents said they see ChatGPT as a co-worker[iv], and OpenAI’s CEO remarked that this cohort uses the tool for anything from relationship management to career moves[v]. He suggests they are using ChatGPT to create operating systems with intricate workflows to better manage workloads.
In the world of business, nearly half of global CEOs anticipate that AI will deliver increased profitability, and 41% expect it to increase revenue.[vi] In the financial services industry, AI applications are widespread already, whether in credit scoring, auto-decisioning, application management, pre-screening, and so on.
The adoption of AI tools cannot be avoided and brings important client service benefits. Yet in almost all cases, I believe this does not replace people so much as take away the dull, processing tasks and help them focus their skills on more interesting, marginal, difficult and human-facing challenges.
Clearly, young generations have caught on to this already. We must follow their lead, by upskilling our people so that they are on an even playing field when it comes to optimal AI use. At SFS, we have already begun the latest stage of diversifying our portfolio, and are constantly increasing automation within the business. AI is, and will be, the latest enabler of that strategy.
Problem-solving with purpose
No matter the uncertainties of the world around us, I believe Siemens Financial Services is an exciting place to come and work. Together with our group company Siemens, we’re helping to solve real and important challenges every day – harnessing the power of our people alongside the productivity-boosting power of AI.
Learn more about jobs and careers with Siemens Financial Services: https://www.siemens.com/uk/en/products/financing/about-us/jobs-and-careers.html
Connect with Julian: https://www.linkedin.com/in/julianhobbs