It seems that we are beginning to witness a very slow and cautious market recovery. Plus equally as important we are all now seeing a return of positive optimism and self-assurance, both by individuals and organisations.
Recent positive reports of employer confidence and subsequent investment in people, processes and equipment would support this trend. As would nationwide claims of rising house prices, the consistent performance of the stock market, falling unemployment and rising rates of both permanent and interim appointments.
Yes, clearly there are unfortunately some losers as well as winners within the market but this has always been the case at any time of the economic cycle. However evidence would suggest that now more than ever before in the last 4-5 years we undoubtedly have more victors and signs of improving performance.
The fall in nationwide insolvency levels and profit warnings would support this suggestion. As would a gradual return of rising dividends and bonus payments as well as the very early signs of a return of wage inflation in some sectors.
Not surprisingly therefore as the market improves and more and more organisations look to hire new individuals and drive growth, it will subsequently become increasingly more challenging to appointment the very best individuals. Organisations and recruiters alike must therefore continue to be even more innovative and rigorous in their processes and candidate attraction strategies. Furthermore now more than ever, reputations and branding will come to the fore in the battle to attract and then retain top talent.
But we must not overlook the key point here, that we are positively experiencing cautious optimism and a slow market recovery………….!!
Simon Walton is a Partner and Head of Consumer & Retail Practices for Berwick Partners
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