Talented compliance officers are in high demand amid emerging regulatory concerns and a tight labor market, according to The Wall Street Journal (subscription).
Why they’re in demand: While the need for compliance analysts is not new, competition for top talent has become particularly intense over the past few months. Companies fear shortages in qualified compliance staff at a time of significant economic growth and heightened regulatory scrutiny, and a tight labor market is causing high turnover and intense competition among businesses seeking strong candidates and sound legal advice.
What companies are doing: Businesses are going out of their way to offer desirable compensation packages and employment options. Some companies are touting higher salaries, while others promote flexible employment opportunities like remote work. Still others are highlighting the opportunity for newly hired compliance officers to receive company equity. In some cases, businesses are offering all three.
A look ahead: “Recruiters are expecting the fierce competition for talent will continue through the rest of 2022, as businesses are still unsure what sort of regulations…will be rolled out this year.”