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 38 countries||Sorted|
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.
First an overview of the indices:
Index18: This week, 7 countries published more job ads on LinkedIn than in Week 13: Estonia, Lithuania, Slovenia, Latvia, Germany, Ukraine.
Index36: 50% of the countries published more job ads in Week 41 than in Week 15, which is a 7% increase compared to last week. 45% of the countries published more job ads this week than last week – a decrease of -27% compared to Week 40.
The European Union: In Week 41, the European Union noted a +23.17% increase (901,782 more job ads) compared to the initial Week 17. However, since last week, 1.91% less job ads were published.
Winners of the week: The winning region of Week 41 is Iberia. Since last week, 49,200 new job ads were published, which is a +25.22% increase. This week, the best country result in % was noted in Montenegro. The country experienced a +691.67% increase in the number of published job ads on LinkedIn compared to last week. In absolute numbers, it’s 68 job ads more.
Losers of the week: In Week 41, the worst result was noted in the Visegrad Group: a -19.65% decrease and 50,899 job ads less than in Week 15. In Week 41, the country with the biggest loss was Luxembourg. 5,165 job ads disappeared from LinkedIn, which is a -43.16% decrease compared to the initial Week 15.
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.
Accounting / BPO: Our industry has not been affected yet, but we have started to plan how to react strategically in case the crisis hits us. Our long-term contracts are safe, but we are aware that it might change. That’s why we are looking for an alternative approach and new possibilities. We can’t predict the decisions of the global headquarters.
Telecommunications: Our results have been skyrocketing. The increased demand for better networks and online solutions has affected our industry in a very positive way.
And the Executive Search side:
After conversations with several Executive Search Consultants, with the exception of 2 firms (one international and one with a focus on DACH & CEE who claim to have record financial years), all other recruitment companies have shared that their turnover has decreased by 40-60%.
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 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).
Market Signals published thus far: