What's the market like? Feb 2015

Saturday, February 28, 2015

What's the market like?

I think that it is fair to say that the recession is well and truly behind us, particularly when it comes to the job market. Recent data analysis here at Walker Dendle shows that demand for staff is not only back on track, but is on a par with 2008.

New vacancies across most levels were up last December by almost 17% month on month and at the same levels as December 2007; in fact we have not enjoyed such a buoyant holiday season since, well, since Christmas 2007! Gross revenue from both permanent and interim placements is up by almost 30%, although the executive end of the market is still sluggish, but improving. In Q4 of 2014, we saw, for the first time in many months (and possibly years?!) a 15% increase in the number of financial controller level roles at salaries of £75k and upwards and we fully expect this trend to permeate the director level appointments at some point this year.
 
With the acute skills shortage really biting hard toward the end of 2014, recruiting became, once again, the biggest challenge that organisations in Surrey and the South East faced with clients lamenting the amount of time to fill each post; 62 days on average, but for some niche skills, such as high level technical accounting, the time-frame was well over 120 days in some instances.

So, how are enlightened companies responding to this dilemma? Scores  are now back-filling roles with interim cover. In fact many are seeking remedy in an interim solution at the same time, or even, before, starting the search for a temporary replacement in the recognition that, without a decent handover, valuable skills and knowledge would be lost from the business altogether unless a quick fix, cost effective solution is in place.

Many clients now report that the direct recruitment models that have been favoured in recent years are no longer delivering a prompt or adequate response and are, instead, reaching out to external recruiters once more. I am delighted to report that tapping into the extensive networks fostered by recruitment agencies, and developed over years, is back in vogue. So now is a really good time to get back in touch if you are planning a move in 2015; the team here at Walker Dendle would love to hear from you!

 

Lisa Dendle, Managing Director

Walker Dendle