Joslin Rowe Questions Whether The Lowest Point For HR Recruitment In London Has Passed
on: July 3, 2009, 2:18 am
Industry: Human Resources
Joslin Rowe, the specialist recruitment company, has reported
a recent noticeable upturn in HR recruitment following a year long
slide in City HR job volumes. While most of 2009 has been
characterised by a continuing slump in HR recruitment, job volumes
reached their nadir during mid June 2009, with a 77% decrease in HR
jobs compared with 2008.
Daniel Cooper, a senior consultant with Joslin Rowe's HR recruitment team,
commented: "Mid-May to mid-June signalled the lowest point, where the only
positions being recruited for were incredibly specialist, such as learning &
development roles, expat positions and comp & bens. There were very few generalist
positions available. However, the last few weeks has seen a marked increase.
There's been an incredible bounce upwards."
According to Joslin Rowe data, the HR jobs
desk is now handling more roles than at any time since the recession was declared in
2008. And, more importantly, the sheer variety of firms recruiting is a strong
indicator the market may no longer be in a downward spiral.
"We've seen our first few senior HR jobs being released from the legal sector,
whilst a number of investment banks and insurance firms are recruiting again - even
those who were hardest hit," said Cooper. "Another positive is the number of HR
generalist jobs. Certainly, the recruitment we're seeing at the moment is way
ahead of previous client predictions which all pointed to the end of 2009 before
recruitment would reach current levels."
Conversations with Joslin Rowe clients indicate that departments are now so lean,
even a small increase in business activity will necessitate increased HR headcount,
with one HR Director admitting his team is so stretched, he might be back up to 2008
headcount levels by the start of 2010.
"The key is of course, whether this growth can be sustained," admits Cooper. "I
think if we start to see jobs for internal recruiters, we'll certainly know we're
heading in the right direction. At the moment, entry level HR jobs, graduate
recruitment and internal recruitment are yet to recover."
Another positive is that salaries for roles coming to market have remained very
competitive. Despite this, candidates who previously earned £70,000 are now willing
to look at roles at the £65,000 mark in order to return to the labour market.
Dan Cooper believes, "Job seekers are realistic enough to realise that whilst in
the good times they may have seen their salary soar from £50,000 to £70,000, the
market has re-aligned itself and they are happy to do the same."
About Joslin Rowe:
Established in 1982, Joslin Rowe is one of the leading UK financial services
recruitment firms in the UK. Joslin Rowe consultants, candidates and clients work
together to achieve the best employment opportunities and long term relationships.
Joslin Rowe recruits for accountancy jobs and banking jobs along with other financial services
jobs across London, Edinburgh and Glasgow
including interim contracts, temporary and permanent positions. Joslin Rowe is a
Randstad company - the second largest HR services group globally.
For further information contact:
Bell Court House
11 Blomfield Street
+44 207 786 6907