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CORE Predictions 2017

A year ago it’s fair to say no-one could have predicted that 2016 would turn out quite like it has. Probably the most surprising thing for me is that everyone is still so positive and upbeat about everything. Sunday Times journalists even changed their tune on Brexit on Sunday to compliment a bright future…. Things have not yet changed on Trump but time will tell.

CORE’s Expansion into Asia

In 2015 we opened new offices in Holland and North America. After one year of trading in both locations we are seeing more growth than we could have imagined in the local markets whilst also attracting top talent to relocate globally. 

2017 for COREcruitment is going to be all about Asia – we will have a consultant based in Bangkok from January who will form the base of our Asian recruitment hub across all markets in the region – including Japan, China, Singapore, HK, Korea, Thailand and Guam.

We have identified a number of trends in 2016 that we believe will continue into 2017

Brexit

In the second half of 2016 - triggered by Brexit - we noticed a huge surge in people applying and enquiring about jobs in mainland Europe. With so much uncertainty surrounding what will happen, people are starting to get the ball rolling and are actively looking now with the hope of beating the rush. We see Continental Europe as a huge market for 2017 with an increasing number of hotels and businesses looking outside of London and the UK for expansion. British brands are looking to secure their place in the wider European market in key cities such as Amsterdam, Hamburg, Barcelona, Munich, Berlin, Madrid and Paris.

Rise in Niche Vacancies

As companies / brands expand pitching their products to an increasingly sophisticated and millennial customer, traditional sales approaches have not had the same impact – cold calling is all but dead and we have noticed a real rise in the numbers of niche marketing roles that our clients are looking to attract. E-commence, Community and Experiential roles are the new tools in attracting and retaining customers (and candidates!)

Company Culture

Candidates are increasingly looking to work for businesses with a strong brand and ethos, ideally with a positive message that makes a positive impact on the world. In addition, candidates are looking to work in a sector / for an employer who interests them outside of the workplace. Employers in sports, cycling, music and film are also looking to attract candidates who see their employment less as a ‘job’ and more as a ‘vocation’ working with subject matter that is interesting with people who are like-minded. This brings with it the risk of companies becoming too insular so we have been careful to advise clients to appoint talent who have multi-sector experience.

Job Searching 

Potential job seekers are bombarded at every opportunity. From our quarterly candidate survey we found for the first quarter since 2007 that the most favoured way to find a role / attract candidates was via personal recommendation. In previous surveys candidates had named job boards and social media as being their preferred route. We believe that the social media approach to recruitment has saturated the market and added to increased lack of career stability. Everybody had become a candidate! And thanks to a lack of vetting on what is published on social media everyone has become a credible candidate! The advent of Facebook Jobs will be an interesting growth area in 2017 as people further integrate their work goals and social interests.

Global Mobility

As we open more office locations we have seen a dramatic increase in the numbers of roles we are recruiting for in developing markets. In the Middle East specifically Saudi Arabia and Qatar, we have found candidates are attracted by jobs, benefits and career progression. In Africa, markets such as Kenya and Nigeria are seeing significant growth. There has been a large movement of candidates (and candidate interest) leaving the Middle East and relocating to Asia – attracted by a more liberal culture and attractive packages. From a UK perspective many mid to senior level management level candidates will seek to move out of London and head for locations like Bristol, Manchester and Scotland.

Competition

Increased competition for talent and a need to ensure higher management levels are actively engaged in the business has led to LTIP (Long Term Incentive Programs) being offered not only to CEO and Board-level appointments but also senior management and some mid-level roles. 

We are also seeing a move away from equity incentive models, especially within sectors such as Food Service, Facilities Management and Leisure. Traditionally individuals might “hang -on” in the business waiting to realise equity – during this period they might not remain fully engaged in driving the business and may act as ‘blockers’ within the company – making it sluggish and ultimately less profitable and dynamic. LTIPs allow senior management to be incentivised toward a medium / long term goal regardless of sale / transaction. Provisions can be built in to allow for early exit, non-sale, sale or merger at different levels. The important thing being that the people at the top of the organisation are constantly motivated and energised to run the business as opposed to being side tracked on selling the company for a set multiplier or value. Loosing focus on the business can only lead to a lapse in service  / productively / guest satisfaction. The very things that make a company marketable.

Oil Recovery 

The Oil and Gas industry will forever be a fickle industry however, if the market continues along the positive growth path it’s currently sailing along, 2017 will be the recovery year for the industry. Oil prices this year have been volatile to say the least however, in December, following OPEC’s output cut, oil prices are at a yearly high. Even with the recent twists in the political world, many industry leaders believe the last two year downturn is coming to an end. This final quarter, we’ve definitely noticed a large increase in vacancies across this sector and we don’t see this slowing down anytime soon!  

Africa Hotel Boom 

The tourism industry continues to be one of the fastest-growing and Africa is steadily developing into one of the world’s great areas for travel! Capitalising on its abundant resources of natural beauty, wildlife, culture and most importantly the welcoming human factor – Africa is attracting a broad target market including European, North American, Chinese, Indian along with an increase in African nationals. Also noteworthy is PwC’s emphasis on South African, Nigerian, Mauritian, Kenyan & Tanzanian offerings.

2016 posed some prominent challenges - largely the fall in oil and gas prices as well as visa regulation changes – however, this has not dampened foreign investments and the sector still has significant potential for growth across the continent in both corporate & leisure markets. 2017 is set to be a very exciting time for Africa!

British Brands Across the Pond 

2016 was a great success for our North American office and we’re gearing up for exponential growth in 2017 - fuelled by the influx of British brands attracted by the vast potential of an ever-evolving nation. Several of our UK clients have already made the leap and are quickly adapting their strategies to respond to the challenges posed by this huge yet localised market. 

There is a lot of hustle in the background with multiple British brands heading across the pond for 2017 (can’t let the cat out of the bag just yet!). Exciting growth plans for trailblazers Pret, wagamama, YO! Sushi, Nando’s Peri-Peri, Wasabi, Carluccio’s and Zuma all looking to expand on their existing locations. 

There remains a bemused contingent of American talent looking for careers in foreign lands in a backlash to the shock election results, which is great for the global talent pool we can tap for our worldwide clients.

For more information about COREcruitment please check out www.corecruitment.com or email me back for more information.

Wishing you all the best for 2017!

Remember, anyone can apply for any job, no matter how woefully unqualified. You never know, you might just get it.

Best
Krishnan