This is the question that I am asked more than any other, and certainly at least two or three times a day on a consistent basis.
Following the worst global recession since the Second World War and the continued threat of a potential double-dip; the on-going Euro crisis; continued economic and political uncertainty in the Middle East and parts of Asia; and devastating climatic events throughout the world; all of which have culminated in record unemployment, rising oil prices, and raw material costs, plus inflation still well above the Monetary Policy Committee’s target of 2% and the apparent continued threat of stagflation…...the answer most expect is quite a negative outlook and forecast.
However, the more accurate and realistic response often surprises people. Particularly as the perception that most have, following the relentless bombardment of negative messages they are receiving for the media, is not so bright.
We were told following the collapse of Lehman Brothers in September 2008 that the world would never be the same and perhaps that was true, however the subsequent scaremongering that followed was over exaggerated. Yes, for many if not most individuals and organisations the last four to five years have been tough and definitely challenging, however there have been winners and gradually we are seeing signs of a slow recovery. Cautiously organisations have continued to hire and there are some key indicators that suggest that this is further accelerating.
Undoubtedly due to the cautiousness of both the individual and employer, it is taking both more time to source and secure the correct correlation and fit. But what is clear is that there are still a number of opportunities out in the market for all parties. In fact most individuals who start a new search for their next career opportunity are pleasantly surprised. Furthermore, in this current climate there is also an argument that now more than ever businesses and organisations need to hire talented and high calibre individuals.
Therefore my response when asked the question ‘so how is the market at the moment??’ is to reply that it is certainly better than most would anticipate and actually in reality the market is pretty positive. Yes, it is progressing cautiously but it is progressing, and perhaps even accelerating, and for most organisations and individuals there are opportunities, options and alternatives out there…….
Partner, Head of Consumer & Retail Practices
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