Deutsche Bank has begun using social media feeds such as Twitter and LinkedIn as part of its search to recruit promising millennials who might be interested in a career within the financial services sector, reports the Financial Times.
According to the business daily, Germany’s biggest bank launched a programme late last year to monitor the online activity of university students. The aim is to identify individuals who might prove a good fit for the bank, but would not apply through traditional channels such as on-campus recruitment drives.
The FT reports that over the first two weeks of the initiative in late November, a special team at Deutsche Bank identified 250 potential hires. They were then encouraged to take part in the bank’s UK graduate recruitment programme.
The scheme, described as the first of its kind for a bank, was adopted in response to top graduates’ increasing disinclination to pursue a career in banking. Executives also believe that broader skills and experience could benefit banks by producing a staff more adept at challenging existing practices and innovating.
Faye Woodhead, Deutsche’s head of graduate recruitment and human resources, told the FT that the bank launched a recruitment drive among students in certain clubs and societies at about 30 UK universities from which it already recruits.
It then uses social media to develop a profile of the students it wished to target, similar to the digital headhunting widely used for hiring experienced professionals.
Domestic banks could feel the greatest impact from the trend, an East & Partners survey suggests.
The major oil producers have agreed a further reining-in of production in a bid to push the price higher.
The General Data Protection Regulation (GDPR) will be enacted on May 25 2018 and promises to revolutionise the way that firms collect, store, process and protect the personal information of customers, clients and employees.
Today sees the publication of set of global principles of good practice in the foreign exchange market.