Having endured a tough four years, it will come as no surprise that there has been a plethora of professionals registering on our database. However, unlike recent years gone by, there is now a gentle emergence of roles coming to the market. The demand is for hands on property managers, asset managers to drive value-add initiatives and work the assets and analysts to produce accurate investment models detailing pound for pound the potential performance of assets.
Caution on both sides of the fence
However, whilst the above is encouraging and there is circulation in the market, the employment trend so far this year shows us that recruitment is still a considered, analysed and reanalysed matter for both employers and potential employees. There is caution on both sides of the fence. Historically, both employers and candidates enjoyed the luxury of quicker, more reactionary responses on roles, we now find both parties researching into the other and considering the risk to a greater extent resulting in a longer recruitment period from start to finish. In many cases, candidates are demonstrating a ‘better the devil you know’ attitude, fearing a ‘last in, first out’ situation should troubled times re-occur. Also, quality candidates are often closely guarded and looked after (even if only at the resignation stage) making sourcing new employees sometimes hard for those trying to recruit.
More active times ahead
However, as highlighted at the start, there are encouraging signs. Whilst the increase in activity may be slow and sometimes hindered by the aforementioned factors, there are indications that we are entering more active times. There are trends to verify this but perhaps most prominently is that in the first half of this year, most of the roles we worked on were replacement roles rather than a product of growth. This is now starting to change. We are seeing new roles occurring where they previously didn’t exist, often owing to new business or debt secured. On balance, we are confident that the second half of this year will see maintained movement in the recruitment market.
Should you have any recruitment requirements or wish for help benchmarking your team’s salaries, we would be delighted to assist you and can be contacted on +44 20 7478 2500.