| 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 | |
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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 targets.
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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,
laid-back working | |
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| | 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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| | consultancy candidates
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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