Quarterly Market Update
Welcome to the first edition of the Goodman Masson, Commerce and Industry quarterly update. The purpose of this document is to give you an overview of the employment market, identify any trends or developments across the UK .
Please scroll down to read the update in full, or use the quick links below to navigate to the most relevant sections.
As this is the first time I have sent this to you I would be keen to hear your thoughts and comments, whether or not you find it useful, and what you would like to see included in future editions. If you would like to give feedback, please reply to this email with your comments, and I will try to incorporate any suggestions in future.
Should you have any questions, please do not hesitate to contact me.
Kind regards,
David Thornton | Manager
Commerce & Industry - Permanent
Direct: +44 (0)20 7019 8804
Email: david.thornton@goodmanmasson.com
Market Update
State of the market for Q1
The Commerce and Industry recruitment market has seen a significant increase in vacancy flow since the start of 2010. The growth in roles has been consistent across industries and roles and we have not seen a surge from any one in particular.
The increase in the number of roles and an overall faster “pace” to recruitment has resulted in the employment market returning to a number of pre credit crunch issues; notably:
- An increase in the volume and size of counter offers proposed to employees, in order to retain talent and experience in businesses, these offers have taken the form of promotions, salary increases and guarantees;
- Immediately available candidates taking up interim contracts as opposed to permanent offers when turned around quickly;
- Speed of movement. Some employers are missing out on preferred candidates due to a lack of urgency as the misconception still remains that there is a glut of candidates;
- Lack of flexibility on notice periods. During the dip last year, we saw professional services firms shortening notice periods significantly, although this has now all but ended.
The expectation from employers is apart from natural attrition ant new roles being signed off in Q2 will have been those roles with high elements of cost accounting or financial analysis. The rational behind this is that it is these roles that add value to budgets, look at the feasibility of new business ventures, and generally “Contribute” as businesses look to grow as we exit the downturn.
The war for talent is not over
The general perception of senior finance professionals is that the war for talent is over, which has resulted in employers holding out for the perfect CV or waiting for a candidate who ‘ticks all the boxes’. Whilst it was true that there was an excess of candidates in the market in 2009 this excess pool has severely depleted and once again top tier candidates remain as much in demand as ever. Good candidates once again, continue to receive multiple offers both internally and externally and clients that go slow will often lose their preferred candidate.
Events
ACA Evening
Goodman Masson is pleased to announce that we will be holding our annual ACA careers evening on Thursday 13th May.
Last years event was hugely successful, and was attended by more than 100 ACAs and clients including: Proctor & Gamble, British Airways, BP, Gazprom and Land Securities.
This evening provides a fantastic forum to present your brand to the ACA community, and is open to clients seeking to proactively add to their team or to increase there brand awareness amongst the ACA community. Historically attendees have included line managers , human resources, recruitment teams or a combination of the above.
All candidates attending will be ACA or CA qualified with the majority having qualified in 2009 or 2010.
If you would like to attend this year event, please contact David Thornton on 0207 019 8804 or david.thornton@goodmanmasson.com
Market Information
I would like to draw your attention to an article that appeared in financialdirector.com “Top businesses unhappy with finance function output.”
Overview
While many FTSE companies regard the finance function as playing a lead role in the strategic planning process, 80% of those PwC polled are dissatisfied by the quality of information finance provides. The article states that most of the UK's top businesses are unhappy with the level of management information they receive from the finance function. A survey by PwC of more than 100 of the top 200 FTSE companies found that 63% regard the finance function as playing a lead role in the strategic planning process, yet 80% said they were dissatisfied by the quality and meaningfulness of the information they receive from finance.
Read more >>
2010 Salary Guide
The 2010 Goodman Masson Salary Guide is near completion, and will shortly be ready for you to review. If you would like to receive the compete guide, please do not hesitate to contact David Thornton on Tel: 020 7019 8804 or david.thornton@goodmanmasson.com
About Us
The Goodman Masson Commerce & Industry Team
The Goodman Masson Commerce & Industry team has gone from strength to strength over the past year and now boasts an exceptionally experienced team of industry specialist consultants who recruit across a number of sectors. This approach allows our consultants to partner with our clients and candidates and keep on top of the most pertinent issues being faced at any period of time.
About Goodman Masson
Goodman Masson is the largest Independent Financial Recruiter in the UK and has been recruiting professionally qualified accountants and other finance professionals for over 16 years. With a team of over 80 we hold annual revenues exceeding £15m. Our growth has been built around our knowledge and expertise within the Finance markets and in 2009 alone we successfully worked with 991 separate organisations. Our client portfolio ranges from the FTSE 100 (67 out of 100) to small entrepreneurial start ups and from Government bodies through to independent media houses.
Goodman Masson | 7th Floor | 120 Aldersgate Street | London EC1A 4JQ
Main: +44 (0)20 7336 7711 | Fax: +44 (0)20 7336 7722
Web: www.goodmanmasson.com
We take great care to ensure that all of our communication is relevant. Should this email prove to be unsuitable please accept my apologies and contact me so that I can update our records.
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