Over the past ten years, Geneva's financial institutions have shown great resilience in the face of a turbulent geopolitical and economic environment, thanks in particular to their highly-trained workforce. The job market in the canton of Geneva has gone through several phases: after an unemployment peak of around 5.5% at the height of the COVID crisis, rates fell back to a more stable level (around 3.8% in 2022), before showing a slight upturn since the end of 2023, reaching around 4% in early 2024 (OCSTAT). Available data suggest that financial employment in Geneva will remain stable, with no significant rise in unemployment attributed to this sector.

This dynamic is driven by a growing demand for specialist skills, particularly in the fields of digital technology and sustainability, in response to structural changes in the sector. Swiss banks thus continue to play a leading role in the economy, particularly in terms of initial and continuing professional training.

The total number of employees in Geneva's banking and finance sector remains unchanged at 38,114 in 2023, according to the Fondation Genève Place Financière. This relative stability, or even a slight increase, suggests that recent trends in unemployment should be interpreted with caution: they do not necessarily reflect a decline in employment, but may reflect structural adjustments or an influx of new profiles attracted by a sector perceived as still buoyant. Despite economic uncertainties, finance remains a pillar of Geneva's and Switzerland's economic fabric.

In this context, ISFB acts as a key player in the banking and finance sector in French-speaking Switzerland, actively promoting skills and career development. Its actions are designed to support both professionals in the sector and institutions looking for talent.

Financial institutions may find it difficult to recruit for certain highly-skilled professions, such as compliance, IT and digitalization, risk and data management, or experienced advisory functions (credit, investment, etc.).

The search for talent is a strategic mission for HR departments. To support its members in this mission, ISFB assists financial institutions in their recruitment by providing them with a skills pool of qualified, rapidly available individuals. All this is done with a clear guideline at the heart of its action: to focus its recruitment mission on job seekers, and not on employees already working for member establishments.

This pool is made up of a variety of profiles: young graduates, job-seekers who have completed a skills assessment via the OCE, or professionals in French-speaking Switzerland wishing to return to work after a break - for example, after devoting themselves to raising children. Depending on the situation, some benefit from individual support geared towards recruitment, while others take part in group coaching or specialized workshops.

To achieve this, ISFB uses assessment tools, technical assessments and career guidance provided by psychologists or advisors specialized in the banking sector, in addition to experienced coaches from the financial sector.

A solution accessible to small structures

Smaller financial establishments, often lacking a dedicated HR department or a visible employer brand, will also find in the ISFB a strategic lever for the search and development of their talents. Thanks to its network and qualified pool, the Institute enables them to recruit efficiently, without increasing their internal fixed costs.

Diana Mooser & Mathias Baitan

HR Skills Consultant & General Manager

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