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CHASE & HOLLAND: OUR AUGUST MARKET UPDATE
August proved to be a strong month for Chase & Holland, with increased recruitment activity across all our specialist disciplines, particularly within Finance and Procurement.
That was despite what felt like a record number of clients and candidates being away, either enjoying the summer heat or doing their best to escape it!
One of the most noticeable challenges continues to be the shortage of newly qualified and part-qualified finance professionals. We have seen several businesses make significant counteroffers to retain their people, with some increases reaching as high as 37%.
It is worth pausing to consider what that tells us. Businesses are increasingly aware of how difficult it can be to replace their strongest employees. When someone resigns, employers are prepared to act quickly, and sometimes very aggressively, to keep them.
For companies recruiting within these talent short areas, a competitive salary is only part of the answer. A clear recruitment process, quick decision making and a compelling reason to join are becoming increasingly important.
Candidates also need to think carefully about counteroffers. A substantial increase can be difficult to turn down, but it is still important to remember the reasons that prompted them to explore the market in the first place.
August also brought an exciting internal development for Chase & Holland. We began reviewing the systems and technology we use across the business, benchmarking them against some of the newer platforms entering the market. The process has highlighted some genuinely exciting opportunities.
Technology should never replace the relationships and personal communication at the heart of recruitment. However, used well, it can help us work more intelligently, improve our service and create a better experience for clients and candidates.
As August ended, we also saw a sharp increase in demand for Supply Chain and Sales professionals at all levels. That momentum appears to be continuing into September, suggesting that many businesses are moving quickly on hiring plans before the final quarter of the year.
Our key observations from August:
• Finance and Procurement recruitment remained particularly active
• Newly qualified and part-qualified finance professionals are in high demand
• Counteroffers are becoming increasingly substantial
• Supply Chain and Sales vacancies rose sharply towards the end of the month
• New technology is creating exciting opportunities to enhance recruitment delivery
The market may still have its challenges, but there is clearly an appetite among regional employers to secure good people and invest in their teams.
If you are considering recruiting, reviewing salaries or simply want to understand what we are seeing across your specialist market, please message me.
No hard sell—just an honest conversation about the market.
