Not knowing whether Brexit is nearer or not, the impact it is having on the recruitment market in London is starting to become more noticeable.
With Budgets being set for next year, businesses are needing to take decisions in competitive markets not truly knowing the genuine point of view from Government on new labour and trade laws to be implemented.
In real terms the effect to our mid/senior level Accountancy & Finance market in London seems to be:
- Less permanent talent looking for new roles
- A higher volume of interim roles
- Replacement permanent headcount converted to interim roles in the short-term due to uncertainty in the market
- Project opportunities with a particular emphasis on systems/processes/change
- Squeezed budgets on business critical permanent roles
This feeling is backed up by some recently published statistics. One recent report has shown a 30% spike in the demand for interims across the A&F market since the UK voted to leave the EU, with interim vacancies for senior appointments rising by 57% over a 12 month period. Internally at Trace Recruit Ltd we have seen our interim revenue grow by 80% in the past 6 months.
An interim solution is a sound way to enable a business to remain competitive but flexible while Brexit negotiations take place. Project, change, and compliance specialists are in especially high demand as the market continues to dance around the lack of certainty. However is an interim biased workforce right for the economy?
It feels like the employment market is at an unprecedented tipping point. Without strong political leadership and direction we could see a real skills shortage in London as candidates become to unsettled and disillusioned with rising student debt and cost of living along with serious uncertainty about job security and the employment market generally.
As a business we are well placed to help service immediate interim needs. With a team of 2 focused on interim Accountancy & Finance in London. Please let us know if we can help you with any needs leading into Christmas and the New Year. Please contact firstname.lastname@example.org or email@example.com / 020 7042 8420.