Market Signals (Week 39)

Because of how we work when supporting our clients, we have a very uniqueglimpseinto 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 countriesSorted
Extended list to 38 countriesSorted
Note: the numbers are collected at the beginning of each week, on Monday afternoon. In the full version of the report, you can find separate data for regions such as: Visegrad, Baltics, Northern Europe, Southern Europe, Iberia, SEE, BENELUX, DACH, Western Europe and EU.

Worth mentioning

First an overview of the indices:

Index18: This week, 6 countries published more job ads on LinkedIn than in Week 13: Slovenia, Lithuania, Estonia, Latvia, Ukraine, Germany.

Index36: 50% of the countries published more job ads in Week 39 than in Week 15. Since last week, 63% of the countries saw an increase in the number of published job ads.

The European Union: In Week 39, the European Union noted a +12.02% increase (467,858 more job ads) compared to the initial Week 17. However, since last week the numbers dropped by -8.26%.

Winners of the week: This week, the best result was noted in Albania. The country experienced a +150.34% increase in the number of published job ads on LinkedIn compared to last week. When it comes to regions, Western Europe is a winning region of Week 39. 104,896 more job ads were published on LinkedIn than in initial Week 15, which is a +2.78% increase.

Losers of the week: Visegrad noted the biggest decrease of Week 39. Since last week, 45,237 job ads were taken off LinkedIn (a decrease of -19.38%). Country-wise: in Week 39, the worst result was noted in Poland. 47,340 job ads disappeared from LinkedIn, which is a -26.91% decrease compared to last week.

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, well indicate the exception.

Automotive: Our industry is doing really well. We have a portfolio full of orders, but we still have to fight for new contracts with highly developed competitors. Our company hasn’t been directly impacted by CV-19. At first, everything slowed down, but when I joined the company in May, things were already getting back to normal.

Machinery: My company is doing well in general, production is in full swing. Unfortunately, it is a bit more difficult to work in Poland now, as many clients are hesitant to work with outside companies. Growing a business is a challenge these days.

FMCG: In order to get the best results these days you have to work creatively. Some countries are noting significant decreases in sales. Problems keep getting more serious in big city centers. Consumers prefer prepackaged products and are not as keen to buy in bulk.

Aviation & Aerospace: The pandemic’s influence on my industry is noticeable, although not as dramatic as on other industries. Changes have been structural and long-sighted.

And the candidate side:

General Manager / Aviation & Aerospace: Things have not moved forward so far. CV-19 stopped all active recruitment processes. However, the market seems to be getting used to the new way of working, so I’m hopeful that something interesting will show up soon.

Key Account Manager / Food Production:
For me, nothing has changed. I’m still working and looking for new opportunities. Right before CV-19 started, two companies had already given me an initial green light, but then I got told to wait for better times. Currently I’m looking for job ads online, but there’s nothing that has caught my attention.

Useful observations & tips for candidates from one of our contacts:

Head of Talent Acquisition / International public organization

Before CV-19, sometimes we’d have only 20 applicants for a post. Now, there’s a massive increase. For some roles it’s double the amount of candidates – for HR roles, even more! A recent posting received 50 applicants within 12 hours! I can see that online interviews are more stressful for candidates because of all the technical challenges. Consequently, their performance is different. The overall candidate experience is also different – not worse, just different.

I still see two struggles for now and beyond CV-19: to formulate proper remote working policies, and to design appropriate digital onboarding processes.

About the future: everything will depend on the success of developing a vaccine. However, there are definitely elements that are here to stay: remote work if physical presence is not required (it currently saves me 5 hours per week, 20 hours per month on commuting – why would I voluntarily want to go back?) and online interviews!

Tips for candidates:

  • Cover the basics: our ATS “enforces” as complete applications as possible. Having said that, it still surprises me that approximately 30% of the candidates still don’t get the absolute basics right!
  • Don’t apply to everything. Constant rejection affects your motivation. Keep applying to the job ads where you see a fit and don’t give up!

If you want to discuss your professional situation confidentially or if you are considering hiring Career Angels for support, contact 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).

Market Signals published thus far:

Week 38
Week 37
Week 36
Week 35
Week 34
Week 33
Week 32
Week 31
Week 30
Week 29
Week 28
Week 27
Week 26
Week 25
Week 24
Week 23
Week 22
Week 21
Week 20
Week 19
Week 18
Week 17
Week 16
Week 15
Week 14
Week 13