The 2017 Robert Walters Salary Survey shows that despite uncertainty around the EU referendum last year, businesses maintained a robust attitude towards recruitment in 2016.
Exporters, technology firms and shared service centres drove demand across a range of disciplines.
“Global macroeconomic trends, in parallel with Brexit, will create a changing environment for financial services, resulting in more opportunities for risk, compliance, legal and projects professionals,” said Chris Hickey – CEO for the UK, Middle East & Africa at Robert Walters.
Uncertainty around the EU referendum and the ‘leave’ result made recruiting within some areas of the market more challenging in 2016, particularly financial services. However, hiring levels did not decline dramatically as some had predicted and recruitment was robust across non-financial services markets.
“In addition to large companies taking on staff, SMEs and start-ups represented major growth areas and opportunities for recruitment, particularly across fintech and other digital related firms,” continued Hickey.
Following the referendum, the comparatively low value of the pound provided a boost to manufacturing and exports by increasing sales, creating opportunities for supply chain, procurement and finance professionals.
Financial services and related industries may continue to be impacted by global macroeconomic and geopolitical factors, however the control functions of risk, compliance and audit should continue growing strongly.
“With the possibility of financial market instability, some hedge funds, broker/dealers and other investment management firms could benefit from changing economic conditions, and therefore may look to increase headcount,” said Hickey.
Global macroeconomic trends, in parallel with Brexit, will create a changing environment for financial services, resulting in more opportunities for risk, compliance, legal and projects professionals.
Outside financial services, it's anticipated that corporate hiring trends will be consistent with the second half of 2016, particularly in the growing digital and technology sector. E-commerce, fintech and big data analytics should represent growth areas in the UK, with specialists in these fields highly sought after.
As trade agreements are negotiated outside the EU, demand for legal negotiators, project managers and financial specialists will rise as the UK establishes new international trading relationships.
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