Professional Services Marketing & BD Recruitment Autumn Report 2016

Historically, Leighton Taylor has compiled a market report every 6 months – one at the start of the year and one half-way through. This year we felt compelled to wait a little longer to take in the Brexit effect.  

Here are our key points from both a candidate and client perspective that we feel would be very useful to take into account moving forward to the latter half of 2016.    

1. How has the recruitment market within the professional services sector been post-Brexit?

It’s important to note that in the first half of 2016, the market was incredibly strong. Vacancies of all levels were coming in on a daily basis. When the vote to leave was confirmed, from a recruitment point of view, it was a case of sitting with bated breath to see how firms would react and if recruitment would go on hold.

What has actually transpired is very interesting. Immediately after the vote, we had real a wave of activity and with above average numbers of new roles coming in. We then had a couple of weeks of reflection, where internal discussions were taking place. A few existing roles did go on hold (for the Summer) but more often than not we were being told that it was business as usual and that in fact extra resource may be required. It has stayed that way through August (which is generally a bit quieter) with a steady stream of new and replacement roles coming through. Our advice to candidates (where we could also detect some caution) is that it still remains a very good time to look with plenty of opportunities out there, so don’t hold back on starting a job search. 

2. So it remains a candidate-led market?

Yes it is. There are still more opportunities out there than available, relevant candidates.  Clients who are recruiting need to remain flexible and responsive in their approaches to CV processing, interviews and creating quicker turnarounds. Those that are happy to let strong candidates go because there may be others around the corner, quite simply, will not be recruiting the best of the best.  

3. What specific candidate or skill shortages have we seen when recruiting in the past 6 months?

Specialist roles such as KAM, pitch, PR or Digital, continue to be difficult to source, particularly as expectations rise and rise internally.  

4. How is the market looking for the next 6 – 12 months and why?

Brexit actually came at a good time of year as far with regard to recruitment. During the summer months, it has given individuals who were worried more time to discuss and reflect on how to move forward without losing prime recruitment time. The feeling is that the market’s building up to a very busy few months ahead, with the vast majority of clients stating that their recruitment plans remain pretty much the same, and in some cases, busier. 

5. Other market trends

The last few months has seen much talk about flexibility in the work place within professional services firms. Many firms claim to offer agile working practices but far fewer actually carry this through. We are often coming across very strong candidates who can’t apply for certain roles because they require a certain amount of flexibility, whether it’s a day at home or having flexibility to do some of the school runs.  It’s a real shame because in a market that needs candidates, there are some out there who are stuck because of their personal circumstances. We cannot stress enough, the firms who do embrace it, stand to get highly loyal and motivated people who actually end up putting in more time to make up for the flexibility. It’s good PR for those organisations too, as they’re regarded as forward-thinking businesses that people actually want to work for. You will get back what you put in. 

We mentioned the increase in counter offers in our last report as another symptom of the battle for talent and this remains the case. Potential employers and their recruiters appear to be more aware of it now so can try and counteract any possibility of this before it is too late. Our view remains that if you are candidate being counter-offered or a firm attempting to keep someone with an increased salary; it will only be a short-term fix for both sides. It’s only delaying the inevitable. 

6. Leighton Taylor’s blueprint to a successful recruitment process

• If you are using agencies, don’t use too many and provide as much information as possible from the outset. An experienced agency will be able to distinguish a good culture between client and applicant.
• Client Extranet Systems – We completely understand the need for these but every recruitment agency will say, it is essential to keep a good dialogue as well. Good candidates can be easily be lost in a pile so ensure that the line managers are aware that the interview selection process is fast, efficient and uncomplicated. Quick feedback is critical.
• Both sides need to be as flexible as possible with interview timings.  Applicants need to show as much willing as they can (without drawing attention) but clients also need to understand that it is getting harder and harder to get out of work to attend interviews during the working day. Interviews at 7:30am and 6:30pm are not unusual anymore.
• Research, Research, Research.  Some of the most common feedback we receive is that a candidate didn’t do enough research for the interview. We don’t think you can ever over-prepare and we will provide extensive notes on how to do this and what to expect.
• More than ever the interview has to be a two way process. Well briefed interviewers and partners who don’t just question the candidates but also sell the merits of firm to candidates who will be comparing roles. Interviews can still be testing but shouldn’t be at all aggressive.  

 In summary, as we move into a very busy autumn period, it’s business as usual and a good time to both recruit (if processes are good) and to look for roles. The market outlook remains positive.

 

 

 

One week on. How the referendum affects your job search.

The vote to leave the EU last week has obviously caused a lot of uncertainty in the markets, with the pound suffering (although recovering a little), no clear leadership in sight and a lot of general anxiety and unrest across the nation.

It’s not for us to state what’s right or wrong or try to predict what might happen in the future, but if you’re a candidate looking (or thinking about looking) for new marketing and business development roles in the professional services sector, here are our thoughts on the last week and how you might be affected:

The general (early) consensus seems to be that actually a significant number of professional services firms could be in even higher demand by their clients, providing advice on how to negotiate the months (and perhaps years) ahead. This is particularly the case for law and accountancy firms, many who had pre-planned for Friday’s result by providing 24 hour advice straight away afterwards.

For property and management consultancies it is less clear and the real estate sector especially could be more seriously affected (as investments go on hold) but it is too early to tell. What we can say is that the first week post- Brexit has been very much business as usual.

In fact, over the past 6 or 7 days we’ve seen an above average number of new roles registered with us across all types of professional partnership and all levels from Assistant to Director. Encouragingly some of these have been new clients to us with brand new positions. There don’t appear to have been any knee jerk reactions and we haven’t had any reports of existing roles suddenly going on hold. If anything, there are mutterings that firms might need to increase their marketing, BD teams and other non-fee earning teams.

So our message to anyone either actively on the market or thinking about looking for a new role is that: we know it’s early days but as we stand, nothing has changed and it remains a good and strong market for Professional Services marketers. Long may it continue!

Giles Taylor

Director

RESEARCH, RESEARCH, RESEARCH

If clients contact us and they are struggling to fill their roles, one of their main reasons for rejecting people at first interview is that they didn’t do enough research on the firm and so couldn’t talk knowledgeably during the meeting. Some candidates think they can simply have a quick look at the job spec, then the company online and head off to the interview - job done.

That’s all that’s needed? Right? Wrong.

Candidates are losing out on roles that they’re more than qualified for because they are overlooking doing proper research on their potential employer. If candidates don’t know enough about the company during the interview, they can kiss the job goodbye – even if they are qualified to the hilt for it. An interviewer wants to know that you want to work for that firm and if you’re not sufficiently prepared, you won’t progress.

Doing your homework about the firm you’re interviewing at should be a lot more in depth than a quick online browse.

Where Should You Be Looking And What Should You Be Looking For?

First stop, obviously the company’s website. You need to know what the organisation does. What is the company’s mission statement? Where are they located? Are they International? Find out specific areas of business, services or products that the firm is involved with.

Find out who runs the firm. Who makes up the management team, the Board, who are the partners and what do they specialise in? Who will be interviewing you? Do you know their names? What do you know about the people of the firm? Also try and find out how they go to market and how the role fits in – is it sector or practice driven or a bit of both.

Look at LinkedIn for even more information about both the company and the people that work there. What is being said about them on social networks? Can you find any common ground or interests with those who will be interviewing you? Clearly, you shouldn’t claim to have won the 2010 European Waterskiing Championship when you’ve only waterskied a few times, so don’t exaggerate or invent things - but if you know the person interviewing you is into waterskiing, there you go – some common ground to make small talk and also show that you have a life outside of work!

At senior management level, your knowledge should always also extend to financial data, corporate culture, structure, company history, market knowledge and any recent news. And that’s not a bad recommendation either for anyone else not at that level. It’s always good to know too much than too little.

Have a look and see what general coverage or industry news your potential employer has had? Newspapers and trade journals are the best place research but, remember, for some of these such as: thelawyer.com or legalweek.com, you might have to have an online subscription. So if you’ve got any friends who subscribe to industry publications, then don’t be shy asking if you can borrow them. Again, if you’ve friends in the sector, ask them about the firm you’ll be interviewing at. What are their perceptions or the firm? Do they know anyone there?
Don't forget to prepare your own questions as well. Think about what you're likely to be asked and don't forget the old line, 'its a two-way street'. You will be expected to ask some questions about the firm, so make sure they are well thought out.

All of this information could be very useful in an interview as you can never be sure exactly what you’ll be asked.

As recruitment consultants, it’s our view that you can never be over-prepared for an interview. You may not always use all the research you’ve done at first stage but it’s better to have the knowledge than to not have done the research and be left struggling to answer questions from your interviewers.

Colette Norfolk, Leighton Taylor Consulting