Despite the volatility of today’s economic climate, the timing to make high-value acquisitions couldn’t be better in the Asset Management sector. While many companies stall hiring altogether, alternative means to prioritise spend are important to consider. It is vital in these times to consider competitor ability to headhunt top talent and implement the means necessary to mitigate this risk.

Recruitment Budgets & Opportunities to Attract Top Talent

At present, hiring freezes are being increasingly implemented across both the buy and sell side, as recession looms ever closer. However, a compromise of a recruitment slowdown will allow flexibility to hire for the skillsets critical to success in these unsettling times. This optimism is further compounded as professionals who typically wouldn’t be available until March are now considering movement due to the anticipation of low bonus returns. Indeed, as portfolio performance declines, the entire management ecosystem is affected, and bonus reviews will depend on individual components and business metrics. This presents a fantastic long-term investment opportunity to those companies who wish to engage with highly skilled candidates, as many professionals are currently open to move.

Expectations for Existing Staff Salary Increases

Considering the aforementioned anxieties of recession, CFOs and HR personnel will be more judicious with salaries, though conscious of inflation. When faced with the conundrum of salary increases, for many it is a case of who is imperative to keep and who can we afford to lose.

Companies that do not offer a salary increase are at risk of a buy-out of their current talent, and it is wise to keep in mind competitors’ resources to attract your value add players. To help you assess this with a more-rounded view, Coopman can support you by providing a bespoke salary benchmarking report.

If you are interested in learning more about live opportunities, or you would like to discuss how we can support your hiring processes in the current market, please get in touch with Gareth Connellan, Principal Recruiter in Asset Management.