Client Newsletter September 2013
Welcome to our autumn edition of Tiger Stripe!
The purpose of this newsletter is principally to help our Clients who are looking to recruit support staff in the final third of 2013. Our aim is to keep you
up-to-date on how the secretarial market is performing and the resulting effect this is having on the flow of good quality Candidates and salary levels.
Also, we have been undertaking a big rebranding project alongside the development of an exciting and innovative new website. Please read on for further information!
Finally, take advantage of our fantastic autumn promotion! We are offering you a discount on your next permanent or temporary hire.
The secretarial market in 2013 has picked up markedly. Hiring activity increased substantially in the first 8 months of the year compared to the corresponding months in 2012. Candidate flow has increased as a result - for the first time in 3 years, Candidates have been able to move jobs without fear of "the last in, first out" scenario that has affected so many.
This shift really started in January, as could be seen through the increase of Candidate registrations and the substantial increase in traffic to our website. Candidate flow continued to improve apace through the first two quarters and whilst there was a slight correction over the summer months (due to holiday season), we expect quality Candidates to continue to come on to the market throughout the rest of the year.
We have been placing Candidates with businesses from all sectors (FTSE 100's, Investment Banks and Private Equity to Creative, Entrepreneurs and Private Households). It has also been particularly nice to see a greater number of Clients in the Property industry start to hire again.
So what effect has an increase on hiring and Candidate flow had on salaries?
The simple answer is we have seen salaries move a little, but I expect them to move a lot more over the next 18 months if and when confidence in the wider economy continues to grow. To give some context, let’s compare current salary levels to where they have been over the last 3 years.
* From 2010, salary levels dropped for positions paying £45k+ whilst positions paying £25k-£40k remained static.
* Graduate salaries have increased since 2010 with most Clients prepared to pay from £18-22k to £20-£25k. I think this has something to do with demand but also to do with increased living costs in London.
* This year (2013), Clients have had to pay top of the range for support staff between the £25k-£40k bracket. For instance, a Client looking to hire an experienced EA with 5 years plus experience and a good solid CV with financial services experience would have paid £35-40k a year ago. It would be very difficult to make that hire now at sub £38k.
* On the whole the market for these "in demand" Candidates has been reticent about moving above £40k, but Candidate shortage will most likely alter this over the next 6 months and I expect the market to move to £38-45k for these Candidates.
* Interestingly, and because many Employers have been holding off on paying above £40k, there is a good quantity of £40-47k Candidates who are looking to move but haven't done so yet. Over the next 6-12 months I see this changing.
* Graduates coming into the secretarial market will expect closer to £25k than £20k over the next 12 months and Employers will need to adjust their budgets accordingly if they want to hire the best staff.
* Top end salaries will move back to 2009 levels. £45k Candidates will expect £50k again and £50-55k will revert to £60k. Again, I see this happening over the next year.
In short, the winds of change are upon us and SHOULD the economy continue to grow and hiring activity continue to grow as a result, then I am confident in these predictions.
My advice to hirers over the next 12 months is expect to hire at the upper limits of your salary ranges for each position you are seeking to fill and you may have to go higher for a top Candidate. At Tiger, we all meet weekly to discuss what we are seeking in the secretarial market. Please ask your Consultant for salary advice. We will always work within the salary range we are given, but will help in any way we can to make sure you find and hire the Candidate you are looking for.
The above information and predictions are based on the hiring we have done and the many Candidates we interview on a weekly basis. Whilst I have concentrated on the Permanent Division, we are seeing the same trends take place in the Temporary Team and as such, I think you can draw the same conclusions with regard to rate increases and flow of temp Candidates.
We are excited to announce that Tiger are rebranding! The current Tiger brand was created over 5 years ago at the same time the website was constructed. 6 months ago, we decided that we needed to invest and update our “brand”, specifically our website and the way we advertise our services to Clients and Candidates alike. Simply, the purpose of this project is to make sure we retain and further improve our position as one of London and Dubai’s leading recruiters for top quality support staff.
It has been imperative throughout the project that our recognised logo and the core message of “exceptional Candidates for exceptional Clients” have been retained. That said, we needed our “new look” to show just how we have grown, and exactly what we stand for in the current market place – efficient, professional, honest and tailored recruitment. From the end of this month, the new and improved brand will appear on all marketing material, online and print adverts and much more.
The new website will be far more interactive, modern and dynamic. Clients will find it much easier to seek out all information they need about hiring Permanent, Temporary or Virtual staff, contact our team of Consultants with any requirements and keep fully updated with all the latest news at Tiger.
Candidates will find the new site incredibly easy to use – the job search mechanism has been improved greatly and the website will update itself with new jobs at the same time as deleting old ones. Candidates will also be able to semi-register online, speeding up the process when they come in to our offices for full registration.
We will be launching later this month, so watch this space and all your feedback is extremely welcome. In addition, as a thank you for all your support, we will be hosting a fantastic, not to be missed event, so look out for the invitation on our social networking pages – links below!
Facebook , Twitter , LinkedIn and Google+.