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Market Signals Report (Week 15)

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Because of how we work when supporting our clients, we have a very unique “glimpse” into how over 5000 Executive Search companies and almost 20 000 decision makers react – the majority of which being located in Europe; and we collect and analyze how they respond; and we observe if and what kind of trends there are to leverage our clients into better career management & more effective job search methods.

Before there are trends, there are signals which we usually keep to ourselves. But these are not usual times, so we decided to share these signals by the end of each week. If the country / context is important, we’ll add them. Otherwise, we’ll keep it general for confidentiality.

We reached out to board members, CEOs and HR Directors, that we know personally, to take the temperature. Below you’ll find their shortened quotes in no particular order.

Collected Quotes from CEOs and HR Directors

The vast majority of executives are with market leaders in their respective industries. By default, the board members are members of local boards; if not, we’ll indicate the exception.

Power tools manufacturing: We don’t plan any lay-offs, but are closely observing the situation on the market.

Capital markets: We switched 95% to remote work. No lay-offs at the moment.

Machinery manufacturing: We’re not hiring, but also no lay-offs.

Investment management: Overall, we’re working normally. Salaries have been slightly reduced which gives us financial stability for 6 months. Then we’ll see.

International trade: No lay-offs.

IT: We’re thriving.

Consumer goods: We’re working normally, but client visits have – for obvious reasons – been put on hold.

Agriculture: The situation is really bad. We will have to take some steps in the nearest future.

Management consulting: Huge workload with no lay-offs.

Construction materials: Huge workload with no lay-offs.

Window equipment manufacturing: No lay-offs planned at the moment.

IT: The situation is rather stable and we are planning to avoid lay-offs. However, the government actions can be harmful to some of our clients and many things can happen.

Danone: Has raised over 5 m EUR for a fund to help its suppliers.

Tesco CEE Region: Had to immediately employ an additional 4 000 people in the region.

And a quote from the candidate side:

Marketing Director: I was fired after 21 years in the same company. However, I am preparing for new challenges despite these unfavorable times.

If you want to discuss your professional situation confidentially or if you considering hiring Career Angels for support, contact Bichl.Sandra@CareerAngels.eu who will personally match you with the most appropriate consultant. For efficiency, add your CV and availability for a Skype call.

If you want to contribute, email your signals to Sandra (everything will be kept confidential).

Published in: Career
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Market Signals Report (Week 15)

  1. 1. Market Signals Full Report - Week 15
  2. 2. The type of clouds (cirrus, stratus, cumulus, nimbus), their size, location, direction and speed of movement can give an indication as to what the weather has in store over the coming two days: storm, sun, snow, ice or rain. In other words, dreamy, thin, wispy clouds bring something different than fluffy, cotton wool style clouds. The art of interpreting signals (precursors of trends) is - and always has been - important in navigating financial markets and economies. If you are an experienced manager or executive who wants to manage their career and/or job search processes wisely, look at the signals of the job market which are inseparably embedded in the VUCA landscape of today's world. Check in on Saturdays afternoon for the newest release on LinkedIn: http://LinkedIn.com/company/Career-Angels/ Prepared by the entire team of www.CareerAngels.eu Published: April 11, 2020
  3. 3. Because of how we work when supporting our clients, we have a very unique “glimpse” into how over 5000 Executive Search companies and almost 20 000 decision makers react – the majority of them being located in Europe; and we collect and analyze how they respond; and we observe if and what kind of trends there are to leverage our clients into better career management & more effective job search methods. Before there are trends, there are signals which we usually keep to ourselves. But these are not usual times, so we decided to share those signals by the end of each week. If the country / context is important, we’ll add them. Otherwise, we’ll keep it general for confidentiality. Source of signals
  4. 4. Number of published job ads on LinkedIn Note: some job ads might have been taken off LinkedIn, not because the recruitment process was put on hold or canceled, but because they are costly, especially if you have dozens of them. A company might have wanted to simply cut costs and move to more cost effective alternatives. Some local job portals are offering substantial discounts.
  5. 5. Selected quotes from CEOs & HR Directors Power tools manufacturing: We don’t plan any lay-offs, but are closely observing the situation on the market. Capital markets: We switched 95% to remote work. No lay-offs at the moment. Investment management: Overall, we’re working normally. Salaries have been slightly reduced which gives us financial stability for 6 months. Then we’ll see. Consumer goods: We’re working normally, but client visits have – for obvious reasons – been put on hold. Agriculture: The situation is really bad. We will have to take some steps in the nearest future. IT: The situation is rather stable and we are planning to avoid lay-offs. However, government actions can be harmful to some of our clients and many things might happen.
  6. 6. CEE Baltics Number of published job ads on LinkedIn by region
  7. 7. Observations & best practices pay out bonuses irrespectively of whether the targets were achieved provide with free psychological support / access to therapists care packages with face masks and disinfectants courses / onboarding moved online Here are some solutions that corporations have implemented to aliviate / deal with COVID-19 consequences: Worth mentioning: Danone has raised over 5 m EUR for a fund to help its suppliers. Tesco had to immediately employ an additional 4 000 people in the region. Recruitment agencies are working online and assure that recruitment processes are still continuing. Though, more candidates than usual express a lack of interest in roles when approached; they refuse to engage. Recruiters also complain about candidates not being fit for online interviews.
  8. 8. Number of "job search" taglines on LinkedIn Note: this is - again - only one of many sources of information; and also a simplified one. The increase in these types of taglines certainly stems partly from an increase in new member profiles on LinkedIn.
  9. 9. Keep engaging in recruitment processes. You don’t know if your job is indeed safe. It’s always better to be able to choose from a couple of options while you have a job rather than wake up with no job and have no options at all. If you have restructuring / change management / interim experience, prepare your project or business cases list. Prepare and practice interviewing online! Work on your communication skills: on paper (CV) and orally (strategic interviewing). Charisma alone will not get you shortlisted against hundreds of candidates; especially now that companies will look for low-risk candidates who can demonstrate very specific skill sets and leadership competencies. Our recommendations for senior candidates
  10. 10. If you are a senior candidate who might need support / guidance: You can access the following services completely confidentially and free of charge: - CV Report - Career Consultation Email Bichl.Sandra@CareerAngels.eu who will personally match you with the most relevant Career Consultant. To save time: add your CV and availability for a Skype call.
  11. 11. If you want to support your (future) former employees: Request an offer for outplacement services by email: - in Polish: Anna.Zadrozna@CareerAngels.eu - in English / German: Sandra.Bichl@CareerAngels.eu For further information visit: www.ManagerialPlacement.eu

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