The small portion of banks who are actively recruiting from outside of banking may be onto something. According to the same survey, 97% said all or many of those hires had been successful, with just 3% saying they had been challenging. Incorporating executive-level talent from outside of banking can bring fresh perspectives to leadership and help institutions better navigate the challenges of today through diversity of thought.

The report does not specify in which areas these hires operate, but it’s likely that at least some are technical in nature. The reason for this is because such talent is hard to come by and typically hails from the broader tech world. This is especially true when it comes to artificial intelligence (AI) — in fact, at CCG Catalyst, we’ve seen a couple of examples of banks hiring AI leaders from outside of banking. The latest frontiers of AI are still very new — generative AI catapulted onto the scene with the release of ChatGPT less than 3 years ago — as a result, there aren’t very many true strategists out there, and definitely not in banking. It makes sense that the industry would need to recruit from elsewhere.

Technology is the most obvious example of where this might occur, but it’s not the only example. There is likely a plethora of other areas that could benefit from some outside energy. Marketing, perhaps? Or even recruitment itself? As banks contemplate their approaches to talent, it is worth looking at what some of these areas might look like at their institutions. Where might a new lens or a new take on things be helpful?

In banking, it can be very easy to stick to what is known. We talk about this tendency all the time when it comes to technology and business. We don’t often talk about it when it comes to talent, but it’s clear that it’s affected, too. It doesn’t have to be that way. In fact, thinking about talent differently could be a gateway to thinking about other things differently. By approaching talent with a more open and progressive mindset, institutions can infuse their organizations with people who push the envelope just enough to make real progress.