There definitely seems to be a bit of a buzz in the HR recruitment market. There is renewed optimism amongst the people we are dealing with and we hope for obvious reasons that it continues.
The Government continue to release positive figures about the economy and unemployment levels. The media are demonstrating a general view that the recession is behind us and the new financial year has brought with it an increase in recruitment activity. There is a lot to be positive about and to cap it all, the sun is out!
We can see from a comparison with last year’s figures that permanent recruitment in HR is showing real improvement but it is the interim market where there has been a real leap. Over the past few years a number of HR professionals finding themselves in between jobs have been willing to consider temporary assignments. This group were more than happy to work on a fixed term contract basis and this led to a decline in the number of day rate interim opportunities available.
As permanent opportunities increase and overall levels of unemployment decrease, the number of people in between jobs has also decreased. This has meant a smaller talent pool from which to find fixed term contractors so the demand for career interims who see interim work as a long-term career choice, not a stop-gap option, has leapt forward.
I don’t think that we will see a return to the level of interim requirements in HR that we experienced pre-recession. The day rates are still lower than before and I see little reason why they will increase to previous levels although we may see exceptions to this trend in areas where skill sets are not easy to come by – such as compensation and benefits.
The good news for everyone is that most of our clients are recruiting again. In my experience it is the employers with the slickest recruitment processes are the ones that are landing the best talent because they appreciate that you can’t drag your heels on recruitment as you perhaps could in the recession. If you do, you will probably lose the best candidates. The best people won’t hang around for you to make a decision, so my plea would be to be mindful of this when planning your next hires.
This goes for your employees too. If you have good people that you fear losing, don’t take them for granted as they may get their heads turned in a recruitment market that is finally showing real improvement.
The sun is indeed shining on the recruitment market, and whilst that is good news for everyone, make sure you don’t get burnt in the clamour for the best new recruits!
Head of HR Solutions