Bankers and traders who want to move to a competing company, or at least want to turn a competing offer into a quick raise, suddenly find that things are getting more and more difficult.
Because the coronavirus fears bring the hiring process to a standstill, recruiters report. The hurdles first appeared in Asia weeks ago and are likely to be imminent in Europe and New York as the virus outbreak intensifies.
Financial firms are cutting back on travel, meeting outsiders, and the extravagant dinners they’ve long used to attract new employees. Some banks are postponing interviews with candidates who have recently been ill or spent time in the growing number of affected countries like China and South Korea, recruiter Options Group reports.
“It’s all on hold,” said the company’s chief executive officer. Michael Karp, in a Bloomberg interview. “They just don’t hire anyone on-screen.”
(Bloomberg)
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