To Our Friends in the Perceptor Network,
I thought I would share a few thoughts on what is actually happening in the world of recruitment and what insights we have learnt from our broad range of clients across the major industry sectors this week.
Firstly, the good news. The recruitment market has not gone into a full shut-down. Yes, we are experiencing some roles put on “pause” and a smaller number cancelled. However, we are also progressing with the majority of existing assignments with clients and candidates now conducting interviews over Zoom, Skype etc.
We have also experienced a small number of clients briefing us on new roles. Their thinking is typically along the lines of the search and interview process will take approximately 3 months and the candidate could easily have a 4-12 week notice period. With this timeline in mind, and unless the Coronavirus really does get out of control, the business sector should be fully up and running in 5 to 6 months and, with an absolute necessity to have the right people in the right roles.
The bad news or, rather the honest and realistic news, is that we expect the recruitment market to be weak over the next 4-6 weeks as we experience further lockdown measures and companies focus on navigating through this disruption.
I have spoken to a broad range of business leaders and the sentiment is polarised between abject pessimism and positive optimism, the latter driven by new opportunities that will undoubtedly arise on the other side of this.
Having managed Perceptor through the dot com bust of 2000/2001 (when as a start up ourselves we were very dot com centric) through to 9/11, the GFC and now Coronavirus, I know that the recruitment market rarely goes into a deep slumber for long and, even in tough economic times, businesses will drive change that inevitably leads to needing new people and different skillsets.
I would advise everyone to use this time wisely. Sign up to some online courses to address areas of interest or weakness (perhaps now is the time for senior executives to embark on courses to understand the world of digital in detail?) and spend time thinking about your career and what you need to be doing to move it forward.
Feel free to reach out to me either via LinkedIn or call me on 0409-816-084 if you would like more market insight.
I look forward to writing another update in the coming weeks.
Mark O’Connor, Managing Director – Marketing & Sales / Digital & Transformation 0409 816 084 I firstname.lastname@example.org I www.perceptor.com.au
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