Q2 2016 HR Recruitment Update
In general, the HR Interim Market has been quite consistent in the second quarter of 2016 compared to the first quarter of the year.
HR Recruitment in Financial Services
- Continued demand within Financial Services for candidates with exposure to change and transformation programmes with a focus on candidates with offshoring, outsourcing and redundancies experience.
- A recent increased demand for candidates with experience supporting Front Office client groups at the HR Advisor, HR Manager and HR Business Partner level, where we have experienced candidate shortage.
- Continued cost saving initiatives within Financial Services has seen a number of top tier banks implementing rate reductions of up to 10% across the board. Whilst initial contract lengths have been shorter, we have seen a number of contract extension and temp to perm conversions come through in Q2.
HR Recruitment in Professional Services
- Within Professional Services we have seen an increase in job volume with a focus on Resource Management and Project Support, mainly by the big four. Within these firms there has been a increase in demand for candidates from a Resource Management, rather than Recruitment background.
HR Recruitment in Commerce & Industry
- Another strong quarter within the ever growing Tech industry.
- With the rapid growth and global expansion of a number of Tech companies, we have witnessed an increased demand for candidates, in particular Recruitment Coordinators with global experience
- The trend that we have seen across all sectors is that hiring within the interim market is taking significantly longer than we have previously experienced. Due to the current market conditions, employers are spending more time identifying the "perfect" candidate. They would rather wait for the right candidate than being flexible on the requirements.
What do we expect for the second half of 2016?
The recent referendum result has made it slightly more challenging to forecast hiring trends for the second half of this year, however, we are expecting continued requirements for strong HR professionals within the interim recruitment market.
Following trends so far this year we anticipate that we may see more growth within Tech and Commerce and Industry as opposed to Financial Services, who we expect could potentially take a more careful approach.
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