Banking recruiters expect expansion

Almost half (46%) of banking recruiters anticipate headcount growth in 2011, according to research from finance, accounting, HR, banking and financial services firm Poolia.

Almost half (46%) of banking recruiters anticipate headcount growth in 2011, according to research from finance, accounting, HR, banking and financial services firm Poolia.

The research shows that of the 46% who believe they may recruit in 2011, most plan between one and three new hires, while 20% expect to grow their teams by between four and 10 members.

Meanwhile, just 3% expect further reductions in their team.

Andrew Bath, general manager in Poolia’s banking & financial practice, says: “The recruitment frenzy that took place in the first half of this year has now slowed down and banks are looking for stability in their teams. There is no doubt that confidence is back. We’re still seeing a high volume of temps in the City and permanent recruitment remains strong, though the market has returned to being candidate led. A major factor in 2011 will be bonus payouts. Although companies should plan for a 10% natural attrition rate, bonus payouts may affect this percentage dramatically. Now is a good time to review 2010 recruitment, create a strategy to attract/retain the best talent in the market and ensure the candidate shortage is not an issue for your business in 2011.”

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