Here's a summary of Anita's TOM Talks on recruitment activity for Banking & Lending mid-2024

Market Overview

• Many organisations, like ANZ, are still working through redundancies and redeployment periods at the end of restructuring periods
• Credit policies remain tight but the outlook for next FY is sounding more positive
• Commercial lending growth is being pushed given the higher margins and growth prospects

Recent Recruitment Trends

• 3rd party channels continued to provide the majority of opportunities
• There’s been a rise in collections and hardships roles due to increased accounts in arrears.
• Many businesses have been growing their teams and even recruiting additional leaders

Recruitment Predictions

• Expect a slow incline of roles within mortgages in late 2024, but with more growth in 2025 off the back of imminent rate cuts.
• The demand for bankers with strong networks who can seamlessly transition into an acquisition role will remain very high.
• There might be an uptick in bankers turning to broking from early 2025 à now may be the time to get in and establish a foundation before the industry picks up! 

Advice for Candidates

• Keep salary expectations realistic, especially when applying for roles in which you don’t have prior experience
• Maintain and polish your referral networks if you’re a banker, in particular your broker connections

Advice for Clients

• There is a heightened need to ensure a smooth, efficient recruitment process with timely and honest feedback
• Sell your opportunity around what would entice candidates to move, given how much choice they have in the market

If you would like to find out more, get in touch with a member of the Banking & Lending team.