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, 5 countries published more job ads on LinkedIn than in Week 13: Estonia, Lithuania, Latvia, Ukraine and Germany.
Index36: 53% of the countries published more job ads in Week 47 than in Week 15, which is a 3% increase since last week. 52% of the countries published more job ads this week than last week – an increase of 15% compared to Week 46.
The European Union: In Week 47, the European Union noted a +17.88% increase: 695,969 more job ads were published than in the initial Week 17. Since last week, it’s a +0.53% increase.
Winners of the week: When it comes to regions, the winning result of Week 47 belongs to Southern Europe: we observed an increase of +11.30% since last Week 46 (46,413 job ads more). Country-wise, Spain is the winner with an increase of +31.58% (37,601 new job ads).
Losers of the week: In Week 47, the worst result out of all the regions was noted in DACH: a -24.22% decrease and 477,891 job ads less than in the initial Week 15. Worst country result: Luxembourg with a -47.31% decrease and -5,661 job ads.
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: My clients have started to form their budgets again and are changing the contract conditions so it’s not perfectly stable at the moment.
International consulting: Our sales have significantly dropped because of the international traffic restrictions.
Digital transformation: Finding clients online has become much harder than before. What’s more, we are looking for European and American suppliers, and because of the travel restrictions it’s not easy to cooperate. Apart from that, USA in mainly focused on the American companies, so our situation is difficult.
Investment fund: Many companies are being very cautious and have put their investments on hold. We can also see some political influence.
Finance: There have been some lay offs and reductions in our company, but it has more to do with the general situation of the group, not just our subsidiary.
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: