Senior Executive Market Updates – Beginning of March 2021
The last 2 weeks of February have very much reinforced the recovery in markets which has been apparent since the New Year. There are many more assignments coming on stream, although there is evidence of employer uncertainty, with specifications changing on the way.
In the UK there is also uncertainty over working practices especially home working. For example Lloyds Bank are looking to shed 20% of their offices and HSBC 40%, whilst others such as Barclays and JPM are equivocal and IWG, formerly Regus, have never been so busy and are looking to open more local offices in towns.
There is still huge demand building in certain roles, whilst there are still thin demand in others, but interestingly enough there is also evidence of recruiters building their own teams, predominantly at the top levels, which speaks for itself.
North America
Recovery in the USA seems generally to be about a month behind most of Europe.
There is as ever demand in technology, in healthcare, in digital security, for business leaders and particularly demand for NEDs and Board Advisory roles are significantly higher than pre-Covid, again evidencing the desire to gain expertise without full time/long term commitment.
UK \ Europe
Quotes across Europe refer to 2021 as ‘a flying start’ and in Germany to ‘all the employers having woken up at the same time’.
In the UK and Europe Deal and IPO activity is coming back, mid-market particularly in tech-enabled and Digital/E-Commerce, involved in IT/Digital Security/Managed Services.
There is an influx of CFO/FD roles, predominantly with a PE/SME bias. Also like the USA there is increased demand for NED/Board Advisory roles. Additionally demand for IT executives is buoyant, although there is still a surplus of available talent.
Middle East
Sovereign Wealth Funds seem to be investing heavily around the world, but particularly in the Middle East they are aggressively investing in International Healthcare and Medtech.
Asia
Asia is still way ahead of the rest of us, as is demonstrated by the fact that in China the average per capita income of the entire population has increased by 10% in one year!
Our Advice
With the UK Budget in place and vaccinations in major markets beginning to have a real effect on the pandemic, the immediate future demand for visionary and effective Senior Executives is increasingly active. This is clearly the time to commence planning and actioning your next career challenge.