As we have gone into Lockdown 2, we have been finding that UK, European and Middle East roles were still being recruited, but we know that we need to accelerate processes or run the risk of clients, candidates and us as a firm missing out on placements.
Vacancies that were at an earlier stage are getting cancelled / postponed, whilst those at later stages have thankfully gone through to completion.
Lockdown 1, we continued to successfully recruit albeit clients and candidates saw the need to adapt to remote inductions of new starters
As we entered Lockdown 2, whilst the market remains relatively buoyant it has clearly slowed down; roles, processes and decisions are being paused until the new year and individuals are now remaining in their roles until this “Unwanted Sequel passes
Going into Lockdown 2, we have seen more interim roles coming to market as opposed to permanent, which we predicted for this market during this challenging climate.
The UK market remains a candidate driven one due to several industries being hit hard by COVID-19
Our advice for you is to sit tight whilst we ride through this lockdown; it’s important to ensure your social media presence is strong and your CV and profile are up to date.
In lockdown 1, we saw roles continuing through the process and new roles coming through. We concluded that this could be due to the virus spreading at different rates across the continent, with different countries being locked down at different times.
Lockdown 2, we continue to recruit across Europe however the process is a lot slower, as companies are placing recruitment of roles a lot lower on the priorities and looking at whether they can spread the responsibilities across the teams for a couple of months.
The US has taken a different approach to the pandemic by letting individual states to decide their approach although there has been a distinct shift to Working from Home.
It is not for us to judge their decisions, but we have seen a far more rapid recovery of the US treasury market BUT there has been increased pressure to use internal resources i.e. HR teams / internal recruiters to recruit positions.
Whilst this surge of specialist treasury LinkedIn advertised vacancies is welcomed by many in what has been a quiet market the danger of this ‘let us see who is looking’ approach means clients are only targeting a very small portion of the candidate pool as we explain in this article;
Rest of the World
Everyone else has carried on as normal! OK well not quite but we have carried on busily recruiting for one of our key clients, SABIC recruiting for them in both Saudi Arabia and in Europe and we are pleased to say that we are looking at helping them in other countries as well. Other clients are now reviewing activity with a renewed push to recruit as soon as 2021 kicks off so watch this space!
There you have it, a decent review of the current state of the treasury recruitment market and the current state of play globally.