Our latest Project & Change Recruitment Industry Update is part of our constant commitment to add value and keep professionals updated. We have compiled this interview with specialists in our team, to provide insights to both candidates and employers.
What has surprised you in the past quarter in the Project & Change recruitment market, both from a positive and a negative perspective?
There have been few big surprises and certainly no major negatives. Instead, we have seen a continuation of a steady upward trend in mandates for medium and long-term contract hires.
A major growth area is business remodelling and transformation projects, which is driving increased demand at all levels, but in particular for experienced project leaders. The second major driver is the evolution of the regulatory environment, in particular relating to know your customer (KYC). There are some major anti-money laundering (AML) projects in progress as well as a continued emphasis around Foreign Account Tax Compliance Act (FATCA),which require banks and other financial institutions to disclose information about assets held by their American clients to the US Internal Revenue Service.
A third driver is the desire of organisations in commerce and industry as well as financial services to understand their customers better.
Taken together, this all translates into the need for organisations to get better control over data management. A number of clients are setting up major ERP and CRM projects. These have to be integrated effectively within operations.
What roles are you looking to fill now; where is the demand, and how do you see it developing?
Demand is reasonably buoyant at all levels and we have a good candidate pool with contractors rotating from one project to the next or moving from the big four consultancies to in-house projects. As we enter the close-of-year period we have seen an uptick in interim hires as companies seek to bring projects to a close.
We can always find good roles for candidates with project management qualifications such as Prince2 or experience of regulatory projects such as Basel III.
What is your outlook for the coming quarter for Project & Change recruitment?
Demand is likely to remain steady or increase slightly. Financial institutions are under pressure to meet the first wave of FATCA regulatory requirements, which will come into effect in July 2014, and we can expect to see a flurry of activity as similar deadlines approach. The optimistic economic outlook provides further incentives for business transformation projects in commerce and industry.
We have decided to end each industry report with a confidential poll around the Project & Change Management market and will publish our results in the next edition. This quarterly's poll question is: Will we see more permanent hires in 2014? To take part, click here.
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