More than nine in ten (91%) banking hiring managers in Australia say they expect to consolidate or increase staffing levels up to the end of 2015, according to the latest ‘Hiring Intentions’ survey from specialist professional recruiter, Robert Walters.
39% will be looking to take on increased headcount, while 52% say employee numbers will remain stable this year. Only 9% are looking to decrease headcount.
Financial services recruitment has faced some tough challenges in recent times, yet these results strongly suggest that institutions are looking to rebuild talent pools in anticipation of an improving economic outlook. Furthermore, a projected drop in the number of businesses looking to downsize provides further evidence of a recovery in financial services recruitment. - Chris Kidd, Director, Melbourne
Positive hiring trends
The survey also reveals that more than a third (38%) of banking hiring managers plan to give staff a pay rise this year, with just 1% looking to cut salaries.
Permanent recruitment is also expected to stay the same- 63% will be focusing on permanent hires this year, on par with a year ago.
“Permanent hiring activity is a barometer of confidence, signalling that institutions are more optimistic about the medium to long-term health of the sector. While this is a welcome development, some employers could find themselves facing skills shortages, especially in professions with limited talent pools, such as compliance.
Shortening the time to hire or offering a wider range of benefits besides remuneration – such as improved work life balance or flexible working opportunities - are just two methods of giving your recruitment strategies an edge on the competition.” Henry Smith, Manager, Sydney.
Other key findings from the Hiring Intentions Survey include:
- 52% of banking hiring managers expect headcount to remain stable
- 78% are looking to hire at the mid-level
- 68% say wage pressures will not affect ability to hire
The Robert Walters 2015 Hiring Intentions Survey asked over 650 hiring managers across Australia for their hiring forecasts over the next six months, including their plans to take on new staff, at which level, and the prospect of salary increases.
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