2010 so far...the marketing recruitment market
Finance & Banking Q3 2010
Year to date, the permanent job market within the Finance and Banking marketing recruitment space has revealed much. From the vantage point of a specialist marketing recruitment business like EMR, we’ve been able to form a number of solid viewpoints on what clients and candidates really want and are thereby able to develop a strategy to serve both of these customers sufficiently in what will be an improved job environment moving into 2011.
From a client perspective, there seems to have been a trend towards the more commercial marketer. Within retail focused financial institutions, the need for P&L exposure is becoming increasingly mandatory. As such, product management and product development have been consistently in demand. Added to that, it appears there has been a focus on high value customers so premier banking and wealth management propositions have been in-demand profiles. Retention has been the talking point over and above acquisition strategy – dovetailing into the high value customer centricity. In the City space, the need for RFP and writing professionals remains very strong amongst investment and asset managers. With more noise around M&A in the City, we expect this to hold along with some more activity within investor relations.
Whilst I would say its still a buyer’s market, the pendulum is swinging back to the centre and by the beginning of 2011, subject to some positive news mid October from the Chancellor, then candidates could once again have the balance of power. I suspect we still have some time to go but everything seems to be much brighter now compared to this time last year and even more so than the year before.
The number of interim roles seems to be steadily increasing since the start of the year as well. There has been a good mix of roles coming in phases, first it was the communications roles, then the generic marketing managers and now the summer focus seemly being on the digital/web/e-commerce market. With the majority of the roles in the early part of the year coming for the business banking sector, the retails banks seem to be making a come back into the interim space following good half year profits.
Overall most interim recruitment seems to the be in the marketing executive and marketing manager level. However, we have seen the odd senior transformation and strategy role sneaking in at the high day rates. The holiday period hasn’t seemed to stem the number of roles coming in with the team having to work overtime to deal with the demand.
Overall, things are looking up in the F&B marketing world and we hope to continue to see an increase in roles with a good mix of requirements.
By Xavier Martin, Associate Director | 18/10/10
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