Our last review of the HR recruitment market was 6 months ago and those that read our updates will know that we promised a revamped recruitment index. As those in retail know full well, the buying habits of consumers change over time and what you found in a shopping basket 30 years ago will look rather different to what you see today.
In a similar way, the buying habits of those recruiting into HR have changed in the relatively short time that we were running the old index. This called for an overhaul of how we gather our data and in doing so we think that we will be able to offer a much more useful insight into the world of HR recruitment. A quick look back shows us that we were previously gathering our data from a number of key job boards. Whilst this gave us a good general overview of what was happening, it did not paint the whole picture. This is what we hope to achieve with the new index.
You will see from the graphs above that this measures the number of opportunities advertised on LinkedIn, the key jobsites for HR and also included are roles advertised directly by HR recruitment businesses like Chiumento and our competitors. Over the past few years there has been a migration from the number of jobs posted on jobsites such as People Management and Personnel Today to LinkedIn. This new index will allow us to track this trend and see where fluctuations occur in changing economic climates. We hope that this will be useful information for our avid blog readers as it will help you inform your job searches or plan how you are going to attract the best HR people to your business.
It would seem that we picked a good time to start capturing new data as the market has been particularly buoyant over the course of the last 4 months. At Chiumento towers we have seen a real uplift in the number of opportunities that we are handling. We are not simply putting this down to the fact that we are seriously nice people to do business with, there are definitely more HR jobs about.
The index does not distinguish between fixed term contract opportunities and day rate interim roles because the sources of our data do not always distinguish between them. What we have seen at Chiumento is that there has been a slight rise in the number of day rate opportunities that we are working on and filling. Part of the reason for this, we believe, is that a year or so ago, there were masses of good candidates in between jobs that were willing to take fixed term contracts. These people ultimately want permanent jobs but there were not enough roles around so contracts had to do for the time being. The increase in day rate opportunities means that there are more roles out there for career interims but this is certainly nowhere near pre-recession levels and the roles are often at a more junior level than we previously might have seen. The £800 a day interim roles are few and far between, you are more likely to find a job paying £200-250 per day.
What is also interesting is that we have seen more roles at a senior level on the permanent side of HR recruitment. During the recession you could post an advert for a senior role in HR and you would get about 200 applications without too much difficulty. This is now no longer the case which suggests that either people have left HR for good or they have landed a new role which seems more likely.
This increase in demand for candidates is impacting on salaries. The best candidates are getting counter-offered by their existing employers and also by other businesses that are chasing their services. We always advise that the slickest quickest recruitment processes can help prevent this. During the recession you can take time over each hire, now that is not the case. If you want the best candidates you need to be quick of the mark!
Of course as with the last index we will gain more insight into the recruitment market from carrying this out over a period of time. We will continue to give you quarterly reviews of what is happening with the Chiumento outlook in HR recruitment. Keep an eye out for future posts if you are new to our blog.
If you are looking for great HR talent or are now considering your next move within HR, we would of course love to hear from you! If you are a HR recruiter yourself, Chiumento are growing our HR recruitment practice and are looking for great recruiters. Why not send us your CV?
Head of HR Solutions