So 2009 turned out to be a tough year for the recruitment market, those looking for a new role and even many of those who stayed in employment felt the effects. Whilst we saw some increase in activity towards the end of 2009, at this time the prospects for 2010 look for many as if it is going to be more of the same!
Early responses from the Arras People 2010 Project Management Benchmark Report* suggest that the impact of the tough economic conditions hit PPM practitioners across the board. When asked “Compared to this time last year I am” the following results were complied showing the difference from one year ago;
As can be seen the two groups who appear to have taken the brunt of the downturn during 2009 were the Private sector where 13.8% more respondents reported feeling worse off (51% of respondents) and Contractors where we saw 16% more respondents reporting feeling worse off (55% of respondents). As ever there were still winners (as there always is) with 22% of Private sector respondents feeling better off compared to 20% in the Public sector.
These results reflect much of what we saw during 2009 where the number of Contract roles fell across both the Public and Private sectors whilst at the same time day rates were challenged much harder. At the same time the number of new permanent roles in the Private sector shrank dramatically compared to the hiring that continued in the Public sector.
Looking back, not only was 2009 a really competitive market for PPM practitioners but the pendulum appeared to swing which led to some interesting changes in the hiring process and how the “dance” was fashioned. Key changes included;
- Fewer new opportunities available in both the permanent and contract markets as organisations looked to deal with reduced demand and contain their costs. This has also been impacted by the lower levels of churn created by people changing jobs and many organisations re-deploying their staff so that they can hold on to them ready for an upturn in business.
- Public sector switching traditional Contract roles to Fixed Term PAYE to reduce their operating costs and maximise return from their budgets. Spend on contractors is now high profile and reduction in spend is being monitored and reported.
- Employers / Recruiters saw substantially more candidates showing interest in each role leading some to believe that they are operating in a buyers market where they could get more for less. This has lead to some pressure on salaries and reductions in day rates available for contractors.
- Employers became very specific in terms of the candidate profile believing that the higher levels of available candidates meant there was a corresponding rise in the number of high calibre candidates. In reality there are some excellent candidates available though a lot of the top talent has become less mobile due to the perceived risk associated with changing jobs.
- More internal hiring / use of social networking as employing organisations looked to reduce their budgets associated with hiring.
- Hiring cycles compressed as many new roles were created to address specific business challenges or implement business critical changes which were focussed on driving out cost.
It is our opinion that during 2010 these trends will continue and we may even see some tougher conditions emerge once the general election has taken place. The true extent of measures to deal with the budget deficit will become clearer at this point and with it the potential impact on the Public sector in terms of jobs and consequently the impact on the Private sector with the potential loss of contracts.
As such, PPM practitioners who are in the market looking for new Contracts or Permanent employment need to recognise the changes that are happening and be prepared to change their approach if they want to be successful. 3 top tips for successful job hunting in 2010 are;
- Be selective when applying for roles; Candidates should apply the principal that “less is more” when applying for roles by ensuring that they have an appropriate level of fit against the skills and experience being requested.
- Tailor your CV / cover note for every job that you apply for ensuring that it clearly covers your suitability for the role. You quite literally need to stand out from the crowd (average response 150 candidates per role during 2009) when you make your application and make a great first impression to get through that first sift!
- Build an understanding of social networking and create a professional profile that presents well to the market; build a network and join groups aligned to your skills and interests. You never know who may be looking for that skill you possess.
*The Arras People 2010 Project Management Benchmark Report is available at www.arraspeople.co.uk
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This article was published in the February 2010 edition of PM Today
