Market Wrap: Analysing the 2024 Job Market Trends and Insights
Welcome to the latest edition of tml’s Market Wrap, present by Partner & B2B lead, David Price. With 2024 now well underway, we’ve continued to see a steady pickup in activity across the board as companies begin the year with renewed confidence that the recession has now peaked and is behind us. There has been a circa 20% uplift in new roles coming to market over the first two months of the year.
In this edition of the Market Wrap, we were joined by a special guest today to share some insights about their career journey, as well as some of the most daring and creative marketing initiatives across B2B; Emma Windsor, Head of Marketing at Elixirr.
A Busy Period for Jobseekers
Coming into a busy period for jobseekers, with April and May traditionally being the busiest time of year for individuals to explore a move, we have seen an upward trend in momentum, both here in the UK and overseas, in territories such as New York; with candidates more open to a move than we’ve seen for the past 18 months.
We’re seeing an average uplift in salary for an external move at the start of 2024 around the 20% mark and up, compared to much smaller numbers individuals are saying in pay reviews as we come towards that time of year with contract reviews, with bonuses not necessarily expected to be at their 2020 peaks. As such, it’s still increasingly attractive to explore opportunities for those motivated by compensation, and something to be aware of when factoring in an attractive offer and uplift in candidate salary for prospective employers.
Germany’s Marketing Recruitment Trends
Internationally, Germany continues to be the biggest hive of activity for marketing hiring, with companies significantly scaling resources and headcount across a range of sectors, notably financial services, law, and tech, as you’d probably expect within the B2B ecosystem.
What we’re finding is a very tight talent pool, and far fewer people are open to a move than across other European markets. Couple that with the distinct regionalisation of local markets within Germany and we’re finding that companies employing a search-based approach to hiring are generating the most success in filling roles swiftly and efficiently.
Interim Recruitment, A Valued Solution
Interim appointments have shown no signs of slowing down. With some firms having struggled to fill leadership roles, leaders are turning to tried and tested consultants to plug a gap either during a period of transition or to solve an element of uncertainty. This is particularly apparent in areas such as professional services, where often firms are bringing in a known interim through their network rather than completing a search or starting one in the first instance. This opens the door to highly valued Fractional CMOs and consultants, such as the team at Growth Partners, who are able to make an immediate impact and provide a steady hand on the tiller.
For more insights on the latest marketing recruitment trends, watch the full Market Wrap below, which includes an interview with Emma Windsor, currently Head of Marketing at Global Consultancy Elixirr, with an impressive B2C background at high-growth protein brand Grenade.
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