The Investment Management Marketing space has been undergoing rapid transformation over the past few years, with a growing emphasis on Digital Marketing and environmental, social, and governance (ESG) investing. As we enter Q2 2023, the recruitment market within IM Marketing in London remains highly competitive, with firms seeking to attract top talent with expertise in these critical areas. In this market update, I will examine the latest trends and developments in the recruitment market within IM Marketing in London.
One of the most prominent trends is the growing demand for professionals with expertise in environmental, social, and governance (ESG) investing. Many investment management firms are expanding their ESG capabilities, integrating these considerations into their investment processes, and adopting ESG strategies as a way of generating alpha. This has led to an increase in the demand for professionals with ESG expertise, inclusive of marketing roles, as firms look to promote their offerings in this space to clients. Furthermore, candidates are keen to secure opportunities with firms that have ESG embedded in their investment process.
The need for strong progression opportunities has become increasingly important in recent years. As the industry continues to evolve, firms are looking for marketing professionals who not only have a deep understanding of the IM landscape but also possess the skills and expertise needed to thrive in a rapidly changing digital landscape. To attract and retain top talent, firms must provide clear career progression paths for marketing professionals, including opportunities for professional development, training, and mentoring. A lack of strong progression opportunities can result in high turnover rates, as marketing professionals seek out firms that offer a clear path to career advancement. By investing in the growth and development of their marketing talent, firms can build a strong team that is capable of driving growth and innovation, ultimately leading to a competitive advantage in the marketplace.
The RFP (Request for Proposal) recruitment market in London is currently experiencing a high demand for skilled professionals who can develop winning proposals and effectively communicate the firm’s investment strategies and capabilities to prospective clients. However, in Q1, we have observed a significant shift in the market, as many candidates within the RFP space are seeking opportunities in client-facing roles. This has created a challenging situation for some firms looking to attract top talent, as many of the best writers on the market are now reluctant to consider new RFP opportunities, resulting in a candidate-driven market within this space. As a result, firms are increasingly offering competitive salaries and benefits packages, as well as providing opportunities for career growth and professional development, to attract and retain skilled RFP professionals.
Digital Marketing remains a critical area of focus for Investment Management firms, as they continue to embrace technology to reach and engage clients. There has been a growing demand for candidates with experience in marketing automation, data analytics, and artificial intelligence, as these skills are becoming increasingly important in developing effective marketing strategies in the digital age.
Another key trend is the shift towards hybrid working. It goes without saying that the COVID-19 pandemic has accelerated the adoption of remote working, and many Investment Management firms have now adopted a hybrid working model, allowing employees to work from home part of the time. What we saw in Q1 of this year is many firms having to pay what is known as an ‘in-person premium’ if they require employees to be in the offer for more than 3 days a week.
Overall, the recruitment market within Investment Management Marketing in London in Q1 2023 is highly competitive, with firms competing to attract top talent with expertise in ESG, Digital Marketing, and other critical areas. With a shortage of qualified candidates in this competitive industry, recruiters have access to a broader pool of candidates and can help identify passive job seekers who may not be actively looking for new opportunities.
The trends and developments observed in Q1 are expected to continue throughout Q2, and firms must be mindful of the need to adapt and evolve to remain competitive in this dynamic market. It’ll be interesting to see how these trends evolve over the course of Q2!
Please do get in touch if you wish to discuss this market update in more detail!
Sophie O’Sullivan | Senior Consultant
+44 (0)20 7324 0556
sophie.osullivan@goodmanmasson.com
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