MARKET UPDATE – MAY 2016

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APRIL HIGHLIGHT

April was a hugely successful month with the highlight of course being ourBusiness Breakfast event. The event saw over 80 delegates in attendance at the Chilworth Manor. Positive feedback is still pouring in, with Bonita Norris’s memorizing talk on overcoming the challenges of Mount Everest being particularly popular. Bonita shared her experiences and remarkable achievements, underlining how seemingly impossible tasks can be achieved through hard work and determination, one step at a time.

 

SUCCESSES AND OPPORTUNITIES

On the back of a record quarter, we are proud to announce that we had another record breaking month. The Venture team has continued their phenomenal success in both the permanent and interim markets. We are now working alongside three new companies – two SME’s and one listed business. These businesses are going through periods of significant change around their accounting systems. This has created new opportunities and assignments for candidates experienced in managing change, projects and implementing systems. In addition, we have successfully introduced a Senior Interim Manager with considerable acquisition and integration experience to a major US business.

 

BREXIT

Whilst opinion is still divided, the consensus amongst businesses that we work with is to stay within the EU. “Both large and small businesses benefit from the EU’s single market, tariff-free trade and full access to a market of 500m people.” If the UK was to leave the EU without the negotiation of a free trade deal, organisations across the country would be affected. The majority of our clients take the stance that EU companies would seek trading opportunities elsewhere within the EU in order to reduce their costs and subsequently diminish trade to the UK, leading to potential job losses.

 

THE RIPPLE EFFECT OF THE NATIONAL MINIMUM WAGE

With the new national minimum wage now in motion, the first signs of a ripple effect are now being seen. On the 1st April, the minimum wage rose from £6.70 to £7.20 and the living wage to £8.35, outside of London. This has not just been good news for employees at the bottom end of pay scales – with firms eager to maintain the differentials between their ranks – employees on higher salaries are also reaping the benefits. As low level salaries rise so do the salary levels above them, this knock on effect is now being witnessed by our mid-market recruitment team.

To hear about our vacancies or for information on how we can help your business fulfill its recruitment needs, please visit www.chilworthpartnership.co.uk and www.vrpartners.co.uk or call 02380 111 813.

Market Update – April 2016

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EU REFERENDUM

With the EU referendum looming, the jury is open and the debate is still raging on what the benefits may be if our nation was to leave the EU. In the world of recruitment the situation is no different. Currently UK employers take joy in receiving applications from across the continent with travel within the EU relatively stress free, opening up countless opportunities for job seekers. If this freedom of movement was limited, some argue that the ‘brightest and best’ would be deterred from applications, diminishing the talent pool available to employers. Others maintain that recruitment would thrive with SME’s particularly benefiting from the lack of EU regulation. In a strong and versatile market, there is no reason to suggest that trade between British and European businesses would be affected, with the number of job opportunities therefore remaining as they are. The debate is destined to continue until and beyond the June 23rd vote, with no clear argument taking precedence.

 

BUSINESS BREAKFAST EVENT

This month our team is excited about our upcoming Business Breakfast Event on 21st April. The event is now fully booked, with over 100 delegates expected. Our guest speaker, Bonita Norris, will be sharing her experiences on the road to becoming the youngest British female to climb Mount Everest and her numerous other remarkable achievements. Bonita will discuss what she’s learnt about goal setting, managing intimidating tasks and the importance of seizing opportunities. We look forward to welcoming Bonita and all our attending delegates, in what we’re sure will be a memorable occasion.

 

THE BOOMING MID-MARKET & VENTURE’S SUCCESS

Finally, congratulations to the Venture team on their extraordinary success since the turn of year. The team has taken full advantage of the current boom in mid-market recruitment, completing a record-braking quarter. Since the recession there has been a shift in focus from both large and mid-sized firms with companies now looking to hire candidates with high potential. It has not been uncommon for candidates to receive offers several months prior to receiving their full qualifications or indeed for them to receive multiple offers. A large part of this success has been down to Chris, who since joining the team in mid-January has quickly settled into his role as Senior Consultant. Chris’s immediate impact is clearly reflected in the team’s outstanding first quarter. The rest of the team, led by Ian, features Matt on the permanent side and David heading interim recruitment. They are proud to see their continued hard work paying off, reflecting how well the team is already bonding.

Stephen is now Chilworth and Venture Recruitment Partner’s newest recruit, working with both sides of the business. After starting in March, Stephen has quickly settled into his role as Resourcing and Marketing Associate, working hard alongside the consulting team. With a background in the education sector, Stephen is enjoying his new challenge and is looking forward to continuing his work with the team.

To hear about our vacancies or for information on how we can help your business fulfil its recruitment needs, please visit www.chilworthpartnership.co.uk and www.vrpartners.co.uk or call 02380 111 813.

Coming Soon…. Business Breakfast 2016

We are currently planning our first Business Breakfast of the year and the office is buzzing with anticipation. We know that our chosen speaker will really motivate and refocus the audience in an exhilarating way.

We’ll be making a full announcement later this month so watch this space. 

Market Update – November 2015

The Recruiter has reported REC’s (Recruitment & Employment Federation) findings for October which state that “Permanent and Temporary job placements grew at their fastest pace since the summer” this combined with a fall in available candidates, means that the recruitment industry is currently a jobseekers market.

However The Recruiter has also stated that “Accounting/Financial remained the most sought-after category for permanent staff in October. This combined with the CIPD’s report, that the competitive nature of the financial sector is due to a skills shortage means that the financial sector remains a relative competitive market for recruitment.

The lack of available candidates per role with the correct skills set has meant that companies have had to look at alternative ways of recruiting. This includes “up-skilling existing staff (48%)” rather than attempting to look for those skills externally. They are also employing from overseas (23%) and “hiring more apprentices” (27%) according to a report published by the CIPD (Chartered Institute of Personnel and Development) earlier this month.

As we approach the winter months, recruitment usually begins to slow down until the New Year. However, Chilworth Partnership and Venture Recruitment Partners have been experiencing a rise in client requests for recruitment and the number of candidates looking for a new role which we believe will continue right through until December.

 

Counter Offers – Why you shouldn’t accept them

Counter-Offer, a Gift Horse to look in the Mouth

Good candidates are incredibly difficult to find, particularly in a buoyant job market. It’s amazing how many employers suddenly see what a good employee they have – once they are faced with the prospect of losing them. It’s flattering to be offered more money and possibly better career prospects if you stay. It’s also so much easier to stay with an employer you know and of course with whom you have a track record of success.

But what are the facts? Did you know that 81% of candidates who are counter-offered leave within six months? The offer of newly-improved employment conditions typically result from short-term employer expediency. Despite the promises of improved pay, better prospects and new found responsibilities the environment hasn’t changed and the same feelings of dissatisfaction linger. Who stands to gain more from you staying put – you with two offers in your hand and the promise of better pay and prospects or your employer who will need to start a search for another you in a market where good candidates are hard to find and there will be a lead period of at least a few months while the new you is being trained and inducted?

So with at least two offers in your hand, how do you weigh them up?

Firstly, you should expect to be counter-offered. Good candidates are hard to find, so why wouldn’t your employer do this? However, know the reasons you want to change jobs in the first place.

Examples:

·  Lack of Career Development opportunities

·  Lack of support from your team or Manager

·  Bored and want something more challenging

·  You want to take the next step in your career i.e. promotion from current level

·  Travel – you want more or less

·  Work/Life balance – i.e. flexibility, work from home

·  Require study support

·  Better package i.e. healthcare, car allowance, pension scheme

·  Lengthy commute

·  Relocation

Whatever the reason(s), it was a deal breaker, which is why you have been looking for a new job.

·  If your boss is now offering you more money because you have handed in your resignation, consider the reasons why – especially if you have approached this subject before and walked away empty handed.

–     Do you believe it is because they have realised you are a valuable member of the team or is it because they do not want to deal with the hassle of redistributing your work and finding your replacement.

–     Your Manager is worried Department Morale will suffer if employees are leaving the company.

–     Companies want to have a low turnover rate and resignations do not look good on a manager’s record.

–     Projects you were working on will suffer delays.

–     Your employer may not want sensitive or confidential information going to a competitor.

–     Your employer will not want a skilled professional working for the competition.

–     If you are tempted to take the counter offer consider what else would change if anything. If money is the only motivation for looking for a new role consider the struggle you will have to gain a pay increase in the future, counter offers usually come out of your next raise or promotion.

–     Think about how much money it would cost the company to replace you in comparison to the counter offer, is it a fair reflection or a small bribe?

So, if you accept the counter-offer sucker-punch what are your prospects?

1.     Nothing else will change

–     The same frustrations and dissatisfaction that you had prior to the counter offer will still  be there after you have accepted the money, this will only increase over time and when you come to looking for a new job again that perfect role might not be available.

2.     Your relationship with your manager will not be the same

–     When you hand in your resignation you are in the position of power and your manager will feel the stress of replacing you. If you accept a counter offer the power will revert back and your manager could quickly harbour feelings of resentment and the idea that you are a possible flight risk and could leave at any time.

3.     Diminished job security

–     If cuts are necessary in the future, your manager will remember that you had intentions of leaving and hold that against you when it comes to making decisions on who will be leaving the company. Remember your manager asked you to stay for his own benefit!

–     A counter offer can be used as nothing more than a stall tactic in order to give them time to find your replacement.

4.     Likely to leave soon after anyway

–     81% of candidates accepting the counter-offer do so within six months. With this in mind it is likely that the reasons you are looking to move now are the same reasons you will be looking to move in 6 months’ time.

So, if 81% of candidates who accept counter-offers end-up leaving within 6 months, carefully consider whether you are genuinely one of the one in five for whom accepting a counter-offer sometimes works. You may be special, you may be hard to replace and that’s all very flattering but don’t stay put just because it’s easier. High achievers rarely become so by choosing the easy option.