Because of how we work when supporting our clients, we have a very unique “glimpse” into how over 5000 Executive Search companies and almost 20 000 decision makers react – the majority of which being located in Europe; and we collect and analyze how they respond; and we observe if and what kind of trends there are to leverage them into better career management & more effective job search methods.
Before there are trends, there are signals which we usually keep to ourselves. But these are not usual times, so we decided to share those market signals by the end of each week. If the country / context is important, we’ll add them. Otherwise, we’ll keep it general for confidentiality.
This is not a full version of this week’s report. View the complete presentation here:
We’ve continued reaching out to CEOs, HR Directors, investors, board members and candidates that we know personally, to take the temperature. Below you’ll find their shortened quotes in no particular order.
However, we’ll start with a KPI that gives a quite good feel of the overall trend on the job market:
Number of published job ads on LinkedIn
Note: some job ads might have been taken off LinkedIn, not because the recruitment process was put on hold or canceled, but because they are costly, especially if you have dozens of them. A company might have wanted to simply cut costs and move to more cost effective alternatives. Some local job portals are offering substantial discounts.
|Initial list of 18 countries||Sorted|
|Extended list to 36 countries||Sorted|
Note: the numbers are collected at the beginning of each week, on Monday afternoon. The regions are divided into: Visegrad, Baltics, Northern Europe, Southern Europe, Iberia, SEE, BENELUX, DACH, Western Europe and EU.
Collected Quotes from CEOs and HR Directors:
The vast majority of executives are with market leaders in their respective industries. By default, the board members are members of local boards; if not, we’ll indicate the exception.
Legal: We’ve noticed a little slow down but we are managing. Unfortunately, there’s been a freeze in fusions and acquisitions – clients are afraid to invest and purchase companies.
Social Media: It’s fine – we managed to retain jobs and a few new projects have been opened. It’s a little nerve-wracking, but most of all, we are grateful that we can develop despite the circumstances.
Media / Entertainment: No lay offs, but we had to reduce salaries by 20%.
IT: No lay offs.
And candidate quotes:
Finance Manager / Germany: Two weeks ago, I sent out my CV to headhunters. Last week, I got a call with an offer for an urgent position. I am currently taking part in the recruitment process.
General Manager / Luxury: In my case, contacting decision makers has not yet brought big results. Recruitment processes in most companies have been put on hold until fall. I get almost no reaction from decision makers, even after follow-ups. They don’t react to LinkedIn invitations either. When it comes to networking though, it’s much better. I am also in touch with headhunters and it’s going really well, for all my key markets. I have a 52% response rate and 21% interview rate.
Our recommendations for experienced managers and executives:
- Keep engaging in recruitment processes. You don’t know if your job is indeed safe. Better to have a Plan B. It’s always better to be able to choose from a couple of options while you have a job rather than wake up with no job and have no options.
- If you have restructuring / change management / interim experience, prepare your project list or list of business cases.
- Prepare and practice interviewing online:
- from a technical perspective
- from a light & background perspective
- from a communication perspective
- Work on your communication skills: on paper (CV) and orally (strategic interviewing). Charisma alone will not get you shortlisted against hundreds of candidates; especially now that companies will look for low–risk candidates who can demonstrate very specific skill sets and leadership competencies.
If you want to discuss your professional situation confidentially or if you are considering hiring Career Angels for support, contact Bichl.Sandra@CareerAngels.eu who will personally match you with the most appropriate consultant. For efficiency, add your CV and availability for a Skype call.
If you want to contribute, email your signals to Sandra (everything will be kept confidential).