Quarterly Market Update
Welcome to the first edition of Goodman Masson’s quarterly client newsletter for the Telecoms market. The purpose of this document is to give you a succinct overview of the employment market and to identify any trends or developments across the Telecoms sector across the UK.
From feedback I have received over the past few months, many of you have suggested it would be interesting and beneficial to provide you with market/employment trends from a recruitment and resourcing view point. I will therefore endeavour to keep you abreast of any employment and company trends.
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 the future.
Should you have any further thoughts or queries, please don’t hesitate to contact me on rachel.webster@goodmanmasson.com or +44 (0)20 7324 0513, and I will contact you at a convenient time.
Kind Regards,
Rachel
Rachel Webster | Senior Consultant - Temporary & Contracts
Industry & Commerce
Direct: +44 (0)20 7324 0513
Email: rachel.webster@goodmanmasson.com
Market Update
During 2009, we saw recruitment across all sectors and specialisms grinding to a halt as the market contracted. A number of IT&T businesses put recruitment freezes in place, displaced temporary staff and identified areas that they could generate increased efficiency or cost-reduction. While it has been a turbulent time for the sector, in many ways this has paved the way for the more exciting times ahead.
Over the last 12 months, temporary recruitment declined against certain predictions that as companies were losing staff through redundancy they would feel forced to increase temporary resources. There are many suggestions as to why this was not the case; the most logical being the advent of ERP systems. These meant business controls and process management were more technologically advanced, effectively ensuring that temporary resource was challenging for managers to justify. Positively in the last three months we have seen both permanent and temporary recruitment increase in the telecommunications industry, particularly surrounding some of the large merger and acquisitions specific to the mobile and broadband markets.
It is worth noting that we have seen some employers recently missing out on preferred candidates due to lack of urgency as there is still the misconception that there is an over-supply of candidates. We haven’t stamped this out completely but any excess of candidates is certainly dissipating whilst influencing competition within the market. Rates are also increasing as recruiters have the money to pay appropriately for the right people and even pay premiums to secure the ‘superstars’. Overall we are seeing a growing increase in both temporary and permanent vacancies across mobile, broadband, media-tech and some technology-consultancy businesses.
State of the Market - Q1
Most analysts forecast 2010 to witness a consolidation of the largest mobile telecommunications businesses as they continue to reshuffle, restructure and compete for growth through the acquisition of smaller growing businesses. Additionally SME IT&T businesses which survived the challenges of the last 18 months, and now have both excellent strategy and a core base to win new business, build new client portfolios and acquire new market share.
Although this may not result in immediate high volume recruitment, by the end of 2010 we should see a really positive contribution.
We are seeing the market become increasing competitive, with an influx of Antipodean ACA candidates and restlessness amongst many permanent staff due to new pressures of under-resource and pay-freezes. This is largely within mid-tier salary ranges of between £35,000 and £65,000 or £200-£400 a day. Senior level requirements are expected to increase over the next six months and competition for the best talent will be fierce.
Increasingly intelligent sourcing and progression within emerging markets will mean margins on some products will be forced down as competition is more apparent. However, in other areas the price war is in decline and businesses are starting to see an increase in their margins and excitingly form a new client base.
The market still has erratic tendencies and amongst other socio-economic factors is influenced further by the May Bank Holidays and the forthcoming election. Whilst this can sometimes spell some uncertainty, we can be reassured that regardless of the outcome it is recognised that to overcome the current economic downturn, technology & infrastructure must be integral to Government policy in Britain if we are not to be left behind.
Market Information
Throughout the year I will keep you up to date with current market information, the first of such being the 2010 Salary Guide. As mentioned, should there be anything other than what we send you that you would be interested in receiving, please don’t hesitate to contact me and we will endeavour to include this in the next Quarterly update.
2010 Salary Guide
How have salaries been affected by the economic conditions of the past 12 months? To view a complete copy of the 2010 Salary Guide, including salaries and market commentary, please click here.
Available Candidates
Below you will see overviews, of candidates who have recently been added to our books. Should you be interested finding out more about one of the below, or in regards to additional hiring needs, please contact me on 020 7324 0513 or rachel.webster@goodmanmasson.com
Commercial Director
£600 day
ACA qualified in 2001 with first time passes, this candidate is an exceptional individual with a phenomenal wealth of experience within the largest players within the IT&T sector. An outstanding commercial individual used to focusing on strategy, contract negotiation and subsequent pricing structures, business/departmental restructure and general business transformation.
Group Statutory Accounting Manager
£55,000
ACA qualified in 2004 this candidate is an excellent individual with a first-class academic record. Working as a Finance Manager, he has a plethora of exposure to statutory financial accounts. Dealing with multi-branch consolidated entities, intangible asset valuations, impairments and hyperinflationary accounting he has achieved the lowest EVER audit fee overruns in the history of his current business, a well-known market leader.
Junior Analyst
£35,000
This candidate is both professional and intelligent, currently studying towards his ACCA qualification and has a 2.1 Degree in Business Financial Management. In his most recent role at a leading industry telecommunications retailer he progressed from a finance analyst covering five European mobile networks, to a strategic analyst, supporting the group managers with budgeting, forecasting and performance management.
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 90 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 Big 4 firms to small independents and the FTSE 100 (67 out of 100) to small entrepreneurial start ups.
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
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