| There's no denying the recruitment frenzy of the dot-com era is back |
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| | Whoever you talk to you
can sense it. Our
confidence in the
consulting jobs market
has been transformed by
6 months of
exceptionally strong
growth, particularly in
the UK market but now
increasingly in the US
too. Where a year ago
candidates would have
been skeptical of
finding an exciting new
career opening within
consulting, now they see
a transformed market in
which it is candidates
that are in short
supply.
Let's take a look at
the figures.
By
Top-Consultant.com's
reckoning, candidate job
search activity in Q1
2005 is up 156% on what
it was just six months
ago. Management
consultancy candidates | |
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| | deciding that a change
of employer could
accelerate their career.
Rising confidence levels
also mean candidates are
less worried about
losing their current job
and increasingly looking
at ways to fast-track
their career paths again
- which will often mean
working for a
competitor.
Faced with the dual
task of replacing lost
employees and actually
growing headcount,
recruiter behaviour has
also been transformed in
the last half year.
Major advertising
campaigns, the
reinstatement of
referral bonus schemes
and high-profile careers
events are just some of
the tell-tale signs that
recruiters are now
pulling out all the
stops to hit their | |
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| | targets.
The need to grow head
count levels across the
industry, combined with
deteriorating retention
rates for existing
staff, is leading many
in the recruitment space
to compare the market in
2005 with that seen
during the dot-com boom.
A tighter candidate
market and increased
recruitment budgets make
for quite a parallel
with the 1999 - 2000
period.
The huge positive
that recruiters can take
from these developments
is the missing element
in the comparison. Back
in the dot-com days
there was a hugely
attractive alternative
to continuing with a
career in consulting -
namely joining or
starting a new
e-business. The cool, | |
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| | laid-back working
environments they
offered - combined with
the possibility that you
might be joining a
future Amazon or Google
- meant that
consultancies had their
work cut out portraying
the industry as
candidates' most
attractive option.
Today, thank
goodness, there is no
such external
distraction and it is
more of a battle amongst
the consulting brands
that is being fought
out. But for candidates
thinking of embarking on
a career change, there
probably hasn't been a
better time to be on the
lookout for a new
consulting job since the
turn of the decade.
| |
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| | are viewing 280,000 job
details per month now
compared with just
109,000 back in Q3 2005.
That's quite a surge in
interest in just a
matter of months.
This growth is being
fuelled by two factors.
Firstly a growing number
of candidates are
considering a career
move now that the market
has rebounded.
Consultancies are
reporting far greater
attrition levels of
late, so more and more
candidates are reviewing
their situation and | |
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