Accessibility Links

Uplift in senior hires

03/10/2014

The rise in senior hires may make it more worthwhile than ever to seek out the expertise of specialist recruiters.

The UK economy is certainly in a better state now than it was even a few months ago, with survey after survey providing more good news.

All of this has created a better environment for marketing departments. Many companies cut spending on this area during the economic crisis, but now the reverse is the case, with many marketing budgets rising substantially. As the economy grows, the emphasis is increasingly on two things: A focus on the needs and tastes of customers, and service innovation. These have been widely identified as the drivers of growth.

Alongside that, of course, comes the need for marketing departments to be geared up to provide this emphasis. To do so, it is evident that many companies have been investing in senior hires, bringing in experienced marketers as a key element of the human resources needed to deliver successful campaigns.

This emphasis on bringing in senior people to perform important roles in tactical campaign-focused positions is, therefore, a prominent feature of the jobs market for marketing departments, but it is not just that; the rise in the appointment of more senior roles reflects a wider increase in investment by companies in their marketing efforts. 

For companies seeking to invest further in their own marketing efforts, the need to have strong leadership and experience is evident, not least as the activities of rival firms in hiring at senior level means they will not be short of such expertise.

All that, of course, means competition for top talent is growing. These are not roles that can easily be filled by promoting people from lower down, so there is a strong requirement for companies to move fast and also to offer competitive packages in their recruitment drives.

The last six or seven months have seen significant upward movement in the average salary size in roles we have been briefed about. It is clear that these have been rising fast and as more of the top talent is snapped up, this trend could be set to accelerate. 

This finding may catch some by surprise. It is certainly true that in the wider UK economy, pay rates have been remarkably static. Bank of England governor Mark Carney recently told the Trades Union Congress annual conference the lack of pay rises was effectively paying for the rise in employment.

However true that may be of the wider economy, there are clear exceptions to this rule and they are focused heavily on executive positions, where the scarcity of the best talent means that senior executives can command large salaries. 

In particular, it is those who can provide a return on investment who can command the best salaries. This is particularly true in the ever-growing digital sales area. This is a segment of marketing that is increasing rapidly, creating opportunities that skilled executives are capitalising on.

Companies who want to invest in their marketing departments will, therefore, benefit from the skills of specialist recruiters to enable them to work out not just how to lure top staff, but to understand exactly what these roles should involve. By seeking expertise in the right areas - like digital sales - an investment in the best talent could provide an outstanding return and help a company gain a competitive edge.