Quarterly market update from Balance Recruitment – Legal Accounts – January 2012

After a relatively busy first half to 2011, the slow Q3 period reported in our last market update only gradually lifted during Q4, and 2011 was very much a year of two halves.

The permanent jobs market across the UK remained sluggish throughout Q4, however there was a continued increase in the availability of fixed term contract assignments within the Legal Accounts sector. We referenced this trend in our Q3 update and it only strengthened as the year went on, with many clients wishing to consider candidates on a ‘contract to permanent’ basis rather than committing to permanent headcount straight away. This of course has a significant impact on the level of interest generated by such assignments, ruling out the vast majority of permanently employed jobseekers who would only move for another permanent position. Fixed term contracts do offer employers flexibility, but can involve a compromise on experience.

Although December was a typically quiet month for new vacancies coming through, all indications pointed towards a busy start to 2012. We heard from a number of clients who held back from recruiting towards the end of the year, in order to attract a better response once the jobseeker market becomes more active in the New Year period.

Candidate flow in Q4 was strong throughout October and November, before inevitably slowing in the run up to Christmas. There were no disciplines that particularly stood out as being in short supply of job seekers and we anticipate Q1 to be a busy month of candidate activity across all levels.

During Q4 the areas of highest demand were again across the transactional levels, particularly on fixed term contract assignments. Although there has been some movement at Finance Director, Finance Manager and recently qualified levels, the volume of activity at senior levels has been noticeably lower in the second half of the year than the first.

Looking ahead to 2012, it would take a brave person to commit to writing their predictions on exactly how the Legal Accounts jobs market will go, but we’re optimistic that there will be some slow, yet steady growth, and we’ve already experienced a very busy start to Q1.

If you would be interested to discuss any of the above or related issues in more detail, or if you have any hiring requirements arise within your finance department, please feel free to give me a call anytime.

Any feedback or suggestions for additional information to be included in future quarterly market updates would be very welcome.