| Consulting market shrinks by 10% but is now primed for hiring recovery |
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Consulting hiring
primed for recovery
Against this backdrop
and the significant
redundancies that have
been undertaken over the
last year,
Top-Consultant surveyed
122 recruiters from a
wide range of consulting
firms and agencies to
determine when we can
expect an improvement in
the consultancy
recruitment market. The
results were mixed in
that a hiring upturn is
expected imminently, but
it will be at least
three years before we
see anything like the
hiring frenzy that has
characterised much of
the last decade.
Overall, the findings
paint a picture of a
modest recovery in
hiring activity that is
only just now starting
to get underway, which
would explain the
difficulties that
consultants have
experienced in securing
new positions up until
now. Only 7% of | |
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| | respondents believe the
market began picking up
earlier this year; 45%
believe a hiring
recovery is either
already underway or is
just getting underway
now. This leaves the
majority (55%) expecting
to see a hiring upturn
only get underway from
2010 onwards. Set
against the terrible
hiring climate of the
last year it is a
positive to see that 79%
of all recruiters
believe a recovery will
be underway by early
2010.
Respondents were also
asked to quantify how
their hiring volumes for
2010 and 2011 were
likely to compare with
the hiring volumes they
had seen during the most
recent boom. For 2010
the respondents expect
hiring volumes to be 45%
of what they were during
the last boom, with this
figure growing to 60% in
2011. These figures
compare with the ~25% of
previous volumes figure
that Top-Consultant
estimates the market had
dropped to at its low.
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The key message is
that hiring activity
will increase steadily
over the coming two
years, but that the “War
for Talent” seen during
the boom will not return
until 2012 or beyond. In
the meantime, candidates
will need to be shrewder
in their choice of
application strategies –
and potentially consider
career moves outside
consulting too.
Further
resources:
Candidates
wanting to find out more
about securing a new
role in the current
climate are invited to
our
forthcoming careers
event.
Recruiters
wanting further details
of these survey findings
(including trends in the
usage of different
candidate sourcing
channels like LinkedIn)
should contact
Sarah Nutton. | |
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