Angela Hickmore, BrightPool Managing Director, provides an “Expert Insight” article to Executive Grapevine on the state of the UK recruitment industry.

BrightPool in the news: City AM 02/05/2012

02 05 12

Angela Hickmore appointed Managing Director of BrightPool

Surge in demand for banking staff to handle explosion in PPI compensation claims

16 04 12

FSA expects new wave of claims with 12 million letters issued

Prudential to move HQ out of the UK?

27 02 12

UK's biggest insurer considering move to Asia

BrightPool - happy 2nd birthday!

03 01 12

The team grew by over 50% in 2011 and similar growth is estimated for 2012.

Managing Consultant joins BrightPool

31 10 11

Jay Alexander has joined the Financial Services team at BrightPool, bringing a wealth of knowledge in the sector with him.

Key Account Handler joins BrightPool Financial Services Division

19 07 11

Due to the recent on-boarding of a number of key accounts in financial services, BrightPool have hired Jon Goodman to work from the London office. Jon has worked in recruitment for 15 years across a number of sectors, most recently focusing on financial services in the city.

Temp to perm trends highlight value of agency work, says REC

10 04 10

One of the stand-out findings from this month’s Jobs Outlook survey is the marked increase in the number of temporary workers going on to become permanent employees.

Interim Partners wins highly coveted public sector panel appointment

24 02 10

Interim Partners, a leading provider of interim management solutions, has been awarded preferred supplier status by Buying Solutions.

BrightPool makes new appointment

19 01 10

Brightpool is pleased to announce the appointment of Mellissa Cox to its Practice. Mellissa will focus on placing high quality FS professionals in the Midlands and North of England.

Brightpool Supports National Freelancers Day, 23rd November 2009

03 11 09

National Freelancers Day has been established by PCG to gain wider recognition for the contribution that freelancers, consultants, interims and contractors make to the UK economy.

Helen Storey joins BrightPool

20 10 09

BrightPool is delighted to welcome Helen Storey to its business. Based in the Company's Harrogate offices, Helen brings a wealth of experience gained from working in an international recruitment company where she specialised in interim and contract Human Resources recruitment.

Surge in demand for banking staff to handle explosion in PPI compensation claims

Published in the Scotsman Monday 9th April - click here to read the article online.

The number of contractors hired by banks to handle the huge increase in Payment Protection Insurance (PPI) compensation claims rocketed in the first quarter of 2012, says BrightPool, the specialist financial services recruiter.

According to figures from BrightPool in the first quarter of 2012:

• 60% of the demand for claims handlers were to work in PPI compensation schemes departments

• 46% of the demand for Project Managers was to work in PPI compensation departments

PPI was designed to cover people’s personal loans in the event that they were to lose their income due to illness or unemployment. Millions of people were miss-sold the product and some had the policies added to their loan contracts without being told, some were threatened with having their loan withdrawn if they did not take out the policy.

The daily rates for these types of Interims are:

• £200-£300 for the contractors who process the claims

• £600 for the Project Managers

According to BrightPool, since the start of the PPI miss-selling scandal, banks and other financial institutions have been quickly setting up departments specifically to manage the influx of claims from consumers. Banks have been hiring blocks of 20 to 30 claims handlers at a time.

Banks are also coming under increasing pressure from the FSA to respond quickly and make sure that it is easy for consumers to apply for compensation.

Angela Hickmore, Managing Director, BrightPool, says: “We have seen a significant increase in demand for both claim handlers and project managers. Financial institutions have learnt from the difficulties faced at the time of the endowment scandals and this time, are reacting quickly to ensure they can manage the high volumes of claims expected for the rest of the year.”

“The speed and size necessary for a response of this magnitude has meant that many banks are already working to full capacity and struggling to keep up with demand.”

“There are now thousands of contractors and staff working on PPI claims.”

The number of claims are expected to rocket again as the FSA has issued another 12 million letters to potential claimants and is also investigating whether claims management companies acting on behalf of consumers have acted unlawfully. This could result in a high volume of claims being resubmitted to banks.

BrightPool London

T: +44 (0)20 7936 3011
E: info@brightpool.co.uk

BrightPool Harrogate

T: +44 (0)1423 877060
E: info@brightpool.co.uk

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