Quarter 2 Overview
Overall, Q2 has been much better than Q1, with a sense of normality returning to the market. Many firms have now ‘trimmed the fat’ following the previous tougher market conditions, leading to lesser performers being highlighted by leaner staffing numbers. Consequently, firms are now focused on efficiency, so maximising the value of their new hires is critical to ensure delivery going into Q3.
Hiring Activity
We’ve seen the previous caution of Q1 dissipate and many of our clients are now looking to hire their summer intakes following a better start to Q2. This confidence is being felt cross-sector, with highlights across the finance world and framework specialists in both healthcare and government.
With regards to hiring levels, there doesn’t appear to be a particular industry that is out-performing others. Instead, the term ‘pockets’ is being used as firms begin to identify niches within their sectors that are still looking for the best talent. This is forcing recruiters to offer a much more consultative and complete service to ensure they stand out from their competitors.
Roles and Skill Sets
One of the most in-demand skills we’ve seen in Q2 is a strong work ethic, evidenced by time spent in ‘gritty’ roles that require a drive for financial reward rather than experience alone. This and the associated competencies are reflective of the traits needed to perform effectively in a slightly tougher market. In terms of skills gaps, business development experience is still in very short supply, with effective relevant candidates either being ring-fenced in their existing firms or proving too expensive to hire with no recruitment experience. Looking for outbound sales experience, paired with evidence of a great work ethic and ambitious mentality, is proving to be a much more attainable and effective profile.
Forecast for Quarter 3 2023
With confidence returning to the market, we are expecting to see increased hiring activity in Q3. As in Q2, we anticipate that this will be in pockets rather than specific industries.
Again, as we’ve seen in Q2, in-demand skill sets are likely to centre around a strong work ethic, commitment, ambition and tenacity. Salaries will almost certainly rise slightly for the top talent: we’ll see a candidate-driven market, leading to clients doing everything they can to make sure they secure the best and least risky talent possible.
Challenges for Candidates and Employers
For candidates, the biggest challenge will be making sure they stand out amongst fierce competition. Summer is always a very busy time but with clients looking for more ‘slam dunks’ and taking fewer risks, candidates can also expect to undertake more interviews before seeing offers.
A huge challenge for employers will be competing with other firms to attract and hire great candidates. The strongest applicants are receiving two or three offers in less time than usual, as clients fight to get their foot in the door first with the best talent in the market.
Looking Ahead
The three key words to keep in mind are Speed, Sell and Salary. Speed: act quickly, otherwise you’ll miss out. Sell: make sure you really highlight the merits of your business and the opportunity, so it stands out from the crowd. Salary: to be competitive, firms need to expect to be offering £25k plus for a graduate recruiter.
It’s also important to move away from the typical candidate profiles. Key competencies including being driven, committed, ambitious and having a great work ethic are proving very effective, with firms embracing wider profiles to find the gumption needed to start a career in a more realistic market.
[/fusion_text][fusion_text columns=”1″ animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ hide_on_mobile=”small-visibility,medium-visibility” sticky_display=”normal,sticky” column_spacing=”150″]Quarter 2 Overview
Overall, Q2 has been much better than Q1, with a sense of normality returning to the market. Many firms have now ‘trimmed the fat’ following the previous tougher market conditions, leading to lesser performers being highlighted by leaner staffing numbers. Consequently, firms are now focused on efficiency, so maximising the value of their new hires is critical to ensure delivery going into Q3.
Hiring Activity
We’ve seen the previous caution of Q1 dissipate and many of our clients are now looking to hire their summer intakes following a better start to Q2. This confidence is being felt cross-sector, with highlights across the finance world and framework specialists in both healthcare and government.
With regards to hiring levels, there doesn’t appear to be a particular industry that is out-performing others. Instead, the term ‘pockets’ is being used as firms begin to identify niches within their sectors that are still looking for the best talent. This is forcing recruiters to offer a much more consultative and complete service to ensure they stand out from their competitors.
Roles and Skill Sets
One of the most in-demand skills we’ve seen in Q2 is a strong work ethic, evidenced by time spent in ‘gritty’ roles that require a drive for financial reward rather than experience alone. This and the associated competencies are reflective of the traits needed to perform effectively in a slightly tougher market. In terms of skills gaps, business development experience is still in very short supply, with effective relevant candidates either being ring-fenced in their existing firms or proving too expensive to hire with no recruitment experience. Looking for outbound sales experience, paired with evidence of a great work ethic and ambitious mentality, is proving to be a much more attainable and effective profile.
Forecast for Quarter 3 2023
With confidence returning to the market, we are expecting to see increased hiring activity in Q3. As in Q2, we anticipate that this will be in pockets rather than specific industries.
Again, as we’ve seen in Q2, in-demand skill sets are likely to centre around a strong work ethic, commitment, ambition and tenacity. Salaries will almost certainly rise slightly for the top talent: we’ll see a candidate-driven market, leading to clients doing everything they can to make sure they secure the best and least risky talent possible.
Challenges for Candidates and Employers
For candidates, the biggest challenge will be making sure they stand out amongst fierce competition. Summer is always a very busy time but with clients looking for more ‘slam dunks’ and taking fewer risks, candidates can also expect to undertake more interviews before seeing offers.
A huge challenge for employers will be competing with other firms to attract and hire great candidates. The strongest applicants are receiving two or three offers in less time than usual, as clients fight to get their foot in the door first with the best talent in the market.
Looking Ahead
The three key words to keep in mind are Speed, Sell and Salary. Speed: act quickly, otherwise you’ll miss out. Sell: make sure you really highlight the merits of your business and the opportunity, so it stands out from the crowd. Salary: to be competitive, firms need to expect to be offering £25k plus for a graduate recruiter.
It’s also important to move away from the typical candidate profiles. Key competencies including being driven, committed, ambitious and having a great work ethic are proving very effective, with firms embracing wider profiles to find the gumption needed to start a career in a more realistic market.
[/fusion_text][fusion_text animation_direction=”left” animation_speed=”0.3″ animation_delay=”0″ hide_on_mobile=”large-visibility” sticky_display=”normal,sticky”]Salaries – London
| Role | Experience | Basic | OTE |
|---|---|---|---|
| Recruiter | 0 Years | £23k – £30k | £30k – £50k |
| Recruiter | 1 Year | £25+k | £40k – £60k |
| Recruiter | 2 Years | £35+k | £40k – £70k |
| Recruiter | 3 Years | £50+k | £50k – £150k |
| Recruiter | 4 Years | £50+k | £50k – £150k |
| Recruiter | 5 Years | £50+k | £50k – £150k |
| Recruiter | 6 Years | £50+k | £50k – £150k |
| Recruiter | 7 Years | £50+k | £50k – £150k |
| Recruiter | 8 Years | £50+k | £50k – £150k |
| Recruiter | 9 Years | £50+k | £50k – £150k |
| Recruiter | 10 Years | £50+k | £50k – £150k |
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