Banks are desperate for staff

Frankfurt German banks are facing enormous challenges. The most pressing problem for many financial institutions is not the turnaround in interest rates or an impending recession – but a lack of staff.

Sven Matthiesen, board member for private customers at Frankfurter Sparkasse, says: “Personnel is now the number one issue for us.” The situation on the labor market has worsened in 2022. “To put it bluntly, one could say: Nowadays, nobody applies to us any more, but we apply to potential employees.”

An exclusive survey by the HR market research index for the Handelsblatt shows how great the shortage of staff is across the industry. The German banks advertised 65,094 vacancies in the first half of the year. That is 81 percent more than in the same period last year.