Cobalt news
Recruitment Review of 2006
Christopher Mackenzie
18/01/2007
The strong performance of the property investment market in the UK and across Europe has again driven the buoyant recruitment market for real estate professionals. The trend for building teams across the property disciplines has continued and the geographical locations of these teams has naturally reflected the property investment market. London is firmly established as a leading centre for pan-European investment and this market has seen scale growth, however we have also been very busy recruiting in the other mainstream northern and southern European markets in addition to increased activity in eastern Europe. We have also found an increasing number of our internationally focused based clients retaining our international recruitment team on assignments in southeast Asia, India and China.
Market for People
This level of market activity has naturally led to continued scarcity of professionals at all levels and the need for more innovative recruitment methods and an increased need for executive search. A majority of firms say they are looking to recruit over the next six months and a high number have admitted that recruitment difficulties were holding back their growth; as a result remuneration has also come under pressure with an increase in both basic remuneration levels, bonuses to reward success and the need for sign on packages when recruiting at most levels.
New Legislation
The introduction of the Employment Equality (Age) Regulations 2006 in October has had a huge impact at every stage of recruitment, including the advertising of vacancies and wording of job specifications through to screening CVs without knowledge of birth dates. However, with the property market being short of essential skills, we had already seen age diminish as a factor in recruitment. As we begin the New Year and people begin to assess their career options, these factors combine to make a challenging recruitment environment for 2007.
The prolonged out-performance across the real estate market has enabled Cobalt to continue to win and successfully execute a wide range of recruitment instructions for almost 300 clients in the last twelve months.
Cobalt Recruitment Can Assist You in 2007
You may already know Cobalt Recruitment as one of the UK and Europe’s leading recruiters of property professionals. Our activities span the breadth of the industry including: General Practice, Fund Management, Development, Planning & Environmental, Architecture, Real Estate Finance, Property Accounting and Business Support for both temporary and permanent roles. The growth in our European and global business activities is reflected in the launch of our dedicated International team in 2007. These consultants will be dedicated to working for international clients looking to recruit both domestically and further a field.
Our success lies in our ability to combine effectively the various methods of recruitment including executive search and selection, industry specific advertising, networking, referrals and database resourcing. We can also advise you in relation to remuneration packages, market trends and staff retention initiatives.
In our experience, finding and securing the right people can take longer than expected so planning ahead is invaluable. Our best and most satisfied clients are those that we know the most about. To arrange a confidential discussion or meeting with one of our consultants and to learn more about our recruitment services, please speak to a member of the Cobalt Team.
