2010 – The future is brighter, the talent pool returns

Candidate Registrations

• With confidence definitely having returned, albeit with an air of caution, many high calibre candidates who had put their search on hold are job seeking and there is an excellent talent pool available that was not previously active. This is particularly true at Part Qualified and Recently Qualified levels where we are seeing far greater confidence and increased recruitment activity, with growth across the finance sector of 120% on 2009 levels.

• Senior level, high calibre FCs and FDs that have successfully steered businesses through the recession and set them on track for ongoing stability and growth, are now looking for new challenges and roles where they can add real value.

Recruitment Demand

• We have observed increased demand at all levels and our YTD activity represents an increase of 105% on the same period last year.  We have seen a particular increase in activity at AAT, Part Qualified, and Newly Qualified levels across an approximate salary band of £20-45k.

• Whilst there is still caution, many of our clients envisage recruitment demand over the next few months, although many are looking for the assurance of another quarter of growth within their own operation.   Howarth Morris took a sensible approach and did not expand its team through the height of the downturn, but has increased its headcount by 120% in the last 9 months.

• Clients servicing the public sector are cautious of how the recent Governmental Comprehensive Spending Review will impact on their own businesses and as such we are seeing fewer recruitment requirements within these sectors.

• The uplift in permanent recruitment activity is slower at FC and FD level, as is typical in any period immediately post-recession.

How does this affect you and your business?

• The balance between candidates and clients in the recruitment equation has returned to an even position and this gives each party greater responsibilities in the process.

• As the client, you should expect the candidates you meet to be informed, researched and enthused about your company and your opportunity – they have a greater responsibility to promote themselves to you than before the recession.

• You also have increased responsibility. It is key that the client also shows interest and awareness of the candidate and their skills to ensure a productive interview.

• Every business needs to be more acutely aware of the importance, through the recruitment process, of promoting and projecting themselves and the company positively – the strength of a positive testimonial from an unsuccessful candidate should not be underestimated – particularly if the candidate is an active studier with a network of similar profiled individuals.

• Creating a positive, and honest, impression of your business will increase interest in your vacancies and could offer you greater flexibility at the offer stage as the pull of the culture will be taken into account.

• Think carefully about the attributes the role requires and don’t restrict your potential candidate pool by focusing too heavily on marginal, technical requirements; but keep in mind the overall profile, and attitude, of individual that your role needs to drive the business forward.

• Don’t rush your recruitment, but don’t drag it out unnecessarily either – delayed feedback, lack of communication and a disorganised process will mask the positive attractions of your business and the vacancy and may lose you the ideal candidate.

2011 – Howarth Morris wants to know your views on the recovery and prospects for the coming year…

Will the confidence continue? Are we set to see the growth promised in 2011? Has the recession affected the availability of quality finance professionals in the North West?

We hope you will take 3 minutes to fill in this survey and help us in our quest. Your time is appreciated and a name from those completing the survey will be drawn at random to win a case of wine early in the New Year.

Click here to fill out the 3 minute survey

We hope this summary of the effect of recent economic events on recruitment and potential candidates’ attitudes has been useful.

As proven experts in our field, our service extends beyond providing just a recruitment service.  We can assist you with salary/benefits bench marking, department structuring, succession planning, post recession candidate attitude, interview techniques, defining job specifications, etc.  If you are considering recruiting in the near future we would welcome the opportunity to assist you.

Click here to read part 1 of the “How’s the Market?” report.

Click here to read part 2 of the “How’s the Market?” report.

Click here to read the full report in .pdf format.

Click here to fill out our 3 minute survey.

If you have any questions, or wish to discuss how your business is finding the recovery, please don’t hesitate to contact us.