Over the last quarter, we have seen 14% inflation in the Netherlands. However, we have seen a buoyant market, despite a rather unstable financial climate.

Even with the cost-of-living crisis, hybrid vs. office debate, and a looming recession, we are still seeing candidates change roles.

It is still a candidate-driven market, so companies are having to put forth a strong value proposition to attract the right talent.

• Is your business financially in line with the market?
• Are you offering the right benefits?
• Do you need to re-evaluate your recruitment process?
• How is the candidate’s journey?

These are all questions businesses must answer before entering the marketplace.

There is a growing concern in the market, due to inflation, which has caused a rise in salaries. Businesses may have to offer competitive salaries outside of their yearly reviews to current staff for retention, alongside competitive pay to attract new staff.

Candidates are also looking for a business that can offer career development and provide a flexible working environment, which allows for a good work-life balance. Therefore, hybrid working is key to successfully retaining staff.

Recommendations:

• Make a clear choice - Is your compensation in line with the market and/or does your business have enough differentiators to compete with the marketplace?
• Career development – Are you creating an environment where candidates can grow and progress their career?
• Flexibility – Since the pandemic, the market is not just driven by high compensation, but also hybrid working.

EMEA Recruitment support

EMEA Recruitment is focused on working closely with both passive and active candidates. The aim is to ensure that we are clear on the drivers and motivators for candidates to move. This way, we are sure that the candidate we put forward for your roles are aligned with your value proposition.

Currently, most of our roles are filled through the headhunt approach, with candidates who may not be currently looking for a role. This success results from the insight we gain into our candidates’ longer-term aspirations.

Our focus:

• Career consultation and advice – Understanding the vertical and horizontal growth of candidates.
• Focusing on the employer and candidate journey – Understanding the timeline of the recruitment process to maximise chance of securing the ideal candidate.
• Understanding what makes a candidate stand out.
• Understanding a company’s value proposal and what makes a potential employer unique.

For more information on our approach, please contact Michael Bentil, Senior Consultant, in our Finance & Accountancy recruitment division in the Netherlands.

As we enter the New Year, Mark Robinson, Associate Director in our Finance & Accountancy team, shares an insight into the Swiss Finance recruitment market...

First of all, Happy New Year to everyone. We hope that 2023 brings you good health, happiness and success.

The New Year begins with far greater confidence than in 2022, due to the control achieved over COVID-19 and, despite some current market challenges, the economy in Switzerland remains positive, particularly compared to European neighbours.

Inflation is expected to reduce to 2.4% (source: Swiss National Bank) and the country will continue to achieve growth in 2023.

Finance recruitment market

There is traditionally a lull in recruitment in December before an increase in activity in January. This means that companies find recruitment difficult in January, due to the higher level of competition.

However, in 2022, the market was busy all the way up to the festive season, with many companies continuing try to attract talent in a typically quiet period.

We undertook significant research in the last quarter of 2022 about the methods that mid to senior level candidates use when job seeking. This confirmed that professionals find direct job applications an increasingly inefficient and impersonal way to secure their next career move.

We heard strong preference for securing a new role through a recruitment consultancy or through a known network, which partly explains why so many companies are struggling to attract the talent they desire through simple advertisements.

The competition for quality candidates remains strong, with companies struggling to attract interest from the passive market. This is where EMEA Recruitment provides the most value, being able to use our network and market knowledge to ensure that the best - and most suited - talent in the market is made aware of opportunities that fit their career goals, even when those individuals are not actively engaging with the recruitment market.

Market shortage/pressure point

In 2022, one area where we started to see increased recruitment activity at large companies was in Environmental, Social and Governance (ESG), as the new reporting regulations came into effect.

As a new field of reporting, there are very few candidates who already possess this experience, so those individuals are likely to have a wide range of opportunities to choose from in 2023.

Is ESG an active area of recruitment or interest for you? If so, please get in touch. We would be happy to provide further information and share thoughts from the wider market about this subject.

Hybrid working – follow-up to Q4 2022

In our last newsletter, we discussed how hybrid working has brought many positives to the workplace, but has also resulted in some challenges for both employers and employees.

We have seen some pushback against working from home in the USA, most notably at Tesla and Twitter, but also some other companies in the tech sector. However, the vast majority of businesses are still very much on board with developing their strategies to make hybrid working as effective as possible.

We recently ran a LinkedIn poll to ascertain our network’s latest thoughts about hybrid working, as shown below:

What do you think are the biggest challenges associated with hybrid working?

• 60% - Maintaining company culture
• 26% - Onboarding is more difficult
• 11% - Ensuring consistent policy
• 3% - Identifying top talent

Will the challenge of maintaining company culture lead to changes to career development for candidates in the future?

Instead of staying with a company and progressing, these results suggest people are likely to move more regularly, as they are less engaged with their employer.

Those with a significant length of service at one company and a number of promotions on their CV/resume are typically the most desired candidates in the market. If individuals are less engaged with their employer, we are likely to see shorter tenures at companies in the future, so the most desired CV could look very different.

Summary

We are all used to a marketplace that changes quickly and can be affected by a range of global factors, but that does not make recruitment any easier. Switzerland is in a much stronger position than many of its neighbours, so we expect to see another exciting year of recruitment and new opportunities coming to the market.

If you would like to discuss your own career or are recruiting into your team, we would be happy to speak with you. Please contact Mark Robinson: [email protected]

2022 has undoubtedly been a time of reflection and change, and quarter 4 continued this trend.

We saw the increased demand for Logistics specialists within Procurement & Supply Chain and the emergence of new standalone categories in energy/utilities.

The current crisis in Ukraine - and the ongoing geopolitical influence across Europe - is having far-reaching effects.

Supply Chain has had a relatively smooth ride since its adoption in the late 70s with the introduction of Just in Time (JIT) methodology, created by Taiichi Ohno for the automotive industry (Toyota).

However, are we seeing the end of it? Logistics is a critical player in the success of the JIT process. Unfortunately, due to the rising cost of fuel and the lack of available drivers across Europe, it may not be sustainable.

What is the alternative?

Digitalisation is the apparent solution. However, are organisations willing to spend the money on implantation and development? This will not be a quick fix; another obvious answer may be Just in Case, which is very much the opposite of JIT.

Unless you have a crystal ball, we need to embrace multiple solutions, and digitalisation must be part of this discussion. Data is crucial in an ever-changing world, and systems must be more robust and versatile to external effects.

Change in the market

From a recruitment perspective, we have continued to see an evolving market again, driven by geopolitical influence and the rising cost of living.

Change is positive. It creates both opportunities and growth. EMEA Recruitment has adapted to these changes by continuing to listen and learn. Q4 saw the expectations of candidates change drastically, from wanting work-life balance in August (EMEA poll of 120 candidates) to salary negotiations in October. Now, the overriding message is job security.

From the aftermath of the Christmas rush - particularly within the FMCG sector - we will continue to gain valuable insight into the market. Organisations certainly recognise the vital role Procurement & Supply Chain plays in the overall success of a business and is no longer just a cost centre.

EMEA Recruitment are keen to support candidates and organisations in their ongoing development and transformation. For further infomation on how we can support you, please contact, Richard Bailey. We wish everyone good fortune for 2023 and look forward to what the year has to offer.

As we begin the final quarter of 2022, one thing is for certain: the rate of change and challenge has not decreased in the last three months, but the Finance recruitment market remains extremely strong, with high levels of competition for candidates.

Candidate market

The unemployment rate in Switzerland remains low, at 2% in August 2022 (source: State Secretariat for Economic Affairs). This is a sign of a positive and stable economy, but also a factor in why some Finance roles are proving difficult to fill, as most people who were displaced during the pandemic have secured positions.

Highlighting a key shortage – Accountant and Controller level

Many companies have reported greater difficulties when recruiting for roles such as Accountant or Controller. One of the key reasons for the candidate shortage at these specific levels has been the move to remote shared service centres, which has reduced the flow of people entering the Finance & Accountancy profession in Switzerland.

The impacts on recruitment are:

For recruiters:

• Traditional recruitment methods are not delivering success
• Individuals who began their careers in 2020 have only ever known hybrid working, so this is a key factor in their decision-making
• Employer brand and a relevant benefits package is extremely important
• Recruitment processes are often not matched to the desired audience
• Roles requiring languages in addition to English are significantly more difficult to fill  

For job-seekers:

• High demand means greater choice of opportunities
• Rising salaries
• Changing job can be achieved quickly
• Benefits and working conditions may be open to negotiation
• Counter offers are being offered more regularly by employers

Counter offers made to candidates to retain staff in this competitive market include: higher salaries, enhanced hybrid working arrangement or even fully remote working.

At EMEA Recruitment, we share market insights with our clients before developing tailored recruitment campaigns that generate interest from the desired audience and lead to successful appointments.

In the current climate, an increasing number of clients are choosing to work with us on a retained basis, to ensure they are at the forefront of the battle for talent.

If you require help to recruit, please get in touch and we will gladly share market information. Please reach out to Mark Robinson: [email protected].

If you are considering your own career path, there is no better time to speak to an expert and ensure that you have access to the right opportunities.

Hybrid working – how does it impact recruitment and onboarding?

Experienced Finance professionals have reported finding it harder to integrate into a new company, primarily because of the lack of time spent physically in the same location as their colleagues and peers. Many people at this level are happy to spend more time in the office, particularly during their learning curve.

Individuals who began their careers during COVID have only ever experienced hybrid working (initially more heavily home-based due to lockdowns), so are used to spending less time in the workplace.

When we are working with a business, we make sure that we fully understand the hybrid working requirements of both client and candidate from the outset, to ensure a smooth recruitment process with clear understanding on both sides, and work with both parties to achieve the right outcome.

Once employment commences, we maintain contact with both parties to help with the onboarding process and maximise the chances of a successful appointment.

Future impacts of hybrid working:

• Are hybrid policies consistent across existing and new employees?
• Is it as easy to identify good performance and potential for internal progression?
• Does hybrid working lead to less engagement and feeling of belonging at a company?
• Will average tenure in companies decrease if people are less bought in to their employer?

We will be running a series of LinkedIn polls to gain further insight into some of these topics. We hope that you will participate and enjoy reading the results in our next newsletter.

Summary

Having access to current market information, whether you are hiring or job seeking, is more important than ever before.

If you would like discuss your own career situtation or hiring into your team, we would be happy to speak with you: [email protected]   

When looking for a new role, should candidates focus on quality or quantity in the recruitment process? Sasha Gill, one of our Senior Consultants for Procurement, Supply Chain and Operations in Switzerland, explores which is paramount in a candidate-driven market…

The current recruitment market in Switzerland is candidate-driven. As a result, we are seeing an increase of job seekers being involved in multiple different recruitment processes simultaneously.

Being involved in multiple processes can be advantageous when building your personal network and for your own market-value mapping. In the current market, with recent cost-of-living increases, it is more important than ever for job seekers to benchmark their own salaries in the market. Partaking in multiple recruitment processes at the same time is one way to achieve this.

However, an argument can be made that being involved in several recruitment processes could be a disadvantage. Searching for your next career opportunity can be time consuming enough; having multiple, simultaneous processes may dilute your focus on each role and hinder your thorough research on each prospective employer.

We are keen to hear from our network whether you think quality or quantity is paramount in the recruitment process.

When it comes to searching for your next opportunity, is it quality or quantity that you aim for? Are you open to being in multiple recruitment processes at once, or do you prefer to focus your search on one opportunity at a time?

Get in touch with Sasha to let us know: [email protected]

If you’re interested in looking for a new role in Switzerland, Sasha focuses on Procurement, Supply Chain and Operations roles.

You can also take a look at the Finance & Accountancy positions we have available: https://www.emearecruitment.com/finance-and-accountancy

Or, if you’re a Human Resources professional, we may have a role available that interests you: https://www.emearecruitment.com/human-resources-

As we enter Q2, we have continued to see a buoyant recruitment market across Human Resources and significant turnover within HR teams. As businesses continue to grapple with this challenge, attention has turned to retention strategies and how businesses can keep their talent engaged.

We ran a poll in January asking our network what the most important factor was when looking to retain top talent, with the following options: improved reward package, visible career path, leadership style and culture, and company sustainability agenda.

There was a strong leaning towards leadership style and culture, with many commenting that, if this fails, a business will not be able to achieve the other factors, and that leaders need to listen, hear and act upon the changing needs and desires of their workforce.

There is the feeling that autocratic leaders will lose out to inclusive leaders that show their humility, as well as high levels of emotional intelligence, which has been a critical skill as they’ve been asked to lead virtual and often highly stressed teams over the last couple of years.

Others commented that a focus on work/life balance and wellbeing remained a top trend, and that ensuring interventions were put in place to prevent burnout were essential.

Latest Events

Last quarter, Katie Insley, Associate Director for HR recruitment in the Netherlands, hosted a virtual Q&A session with Bianca Eder, Global Head of TA for Upfield, and Koos Wurzer, Global Head of Employer Brading for Danone.

They shared their thoughts on how the world of Talent Acquisition has evolved with the development of technology and AI. Katie agrees that, while new technologies can streamline processes and hopefully contribute to a positive candidate experience, they can’t, at this stage, substitute the human touch that is still such an important part of the recruitment process.

They discussed the importance of a strong employer brand and Koos shared some great tips on how this can be tackled, especially in an international, multi-cultural environment.

They also discussed that businesses are now having to, more than ever, sell themselves and what they can offer the candidate if they were to join. Hybrid and flexible working arrangements remain high on the candidate wish list, as well as competitive packages and wellbeing initiatives.

We’re always keen to hear from our network about topics you’d like to be covered in future events, so please do reach out if you have suggestions and ideas to share.

If you’d like to see the full session, you can follow this link: https://youtu.be/R9lw3u06ywA