Company Secretarial recruitment market review Q2 2021
We now have a consistent picture over the past few months to show that confidence has returned to the company secretarial recruitment market and hiring plans are in full motion.
The latest UK report on jobs for June by KPMG and the REC concurs with our own experience:
· Rapid increases in permanent placements and temporary billings
· Vacancy growth hits the highest level since January 1998, but
· Supply of workers drops at its quickest rate for 4 years
Our latest ‘Quick Question’ in conjunction with The Chartered Governance Institute/ICSA (published in the June/July G+C magazine) reinforces that Company Secretaries and their teams have been under increased pressure since the start of the pandemic. Here’s a sneak preview of our findings:
· 82% of Company Secretaries have seen their workload increase since the pandemic (49% significantly)
· Yet only 24% have increased headcount in the department
· 29% have taken on temporary workers (10% outsourced work to professional services firms)
Over the next 6 months, there will be increased pressure on the candidate supply:
· 49% of Company Secretarial departments envisage hiring in the next 6 months
· Notably 21% will hire additional headcount (7% will hire additional temporary staff)
· Only 4% of departments will make redundancies
Such a candidate-driven market will inevitably put pressure on salary increases, but it is also important to understand the strategies to attract the highest calibre candidates. The best candidates do not move roles purely for financial gain – they will be looking for progression, opportunity for development, connection with line managers and clarity of vision for the business.
Please do reach out to me and the team if we can offer any advice, or provide assistance with any temporary or permanent recruitment over the coming months.