top-consultant 2012 recruitment channel report
TRANSCRIPT
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Top-Consultant.coms Management Consultancy
Recruitment Channel Report 2012
http://www.top-consultant.com/ -
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TABLEOFCONTENTS
Introductory note 3
Part I - Recruitment and retention trends 5
Part II - Recruitment channel use and Social Media 12
Part III - Historical trends in recruitment channel use
and Recruiter & Media Awards 18Newspapers 19
Internet job sites 20
Recruitment agencies 21
Individual Recruiter Awards 22
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INTRODUCTION
In producing this report or the last decade, weve
served a consulting industry that or the most part has
been used to enjoying double-digit annual growth in
revenues but that has also had to battle with sta
attrition rates that oten breach the 20% mark.
This ten year period has also seen the consulting industry
hit by two downturns, the milder one induced by the
dot-com crash and more recently the more prolonged
and painul reversal o ortunes brought about by the
global nancial meltdown.
Hiring suered during both these downturns, in part
owing to the growth trajectory o the industry but
more so because o the reduced sta attrition that these
economic conditions induced. With ar ewer people
leaving rms, ar less replacement hiring was needed;
and its replacement hiring rather than growth-induced
hiring that is ultimately the bigger driver o hiring demand.
Growth prospects within consulting remain ragile.
By ar the largest practice areas are nancial services
and the public sector. When both are ring on allcylinders the industry powers ahead. At the outset o
the economic downturn, nancial services practices
suered considerably but continued spend by the
public sector helped to sustain the sector. For much o
2011, a broad range o private sector practices enjoyed
a modest rebound in demand, increasingly supporting
the nancial services practices in reviving consulting
rms ortunes. However this private sector recovery
was without doubt dented by the Eurozone crisis that
enguled the economy rom Autumn onwards. To a
degree this has continued into 2012, though the early
signs are encouraging that client demand in the private
sector is picking up once again.
Taken as a whole, the prognosis is thereore that
consulting revenues can be expected to continue their
slow improvement, but that a return to double-digit
growth or consulting as a whole is ex tremely unlikely.
The key thing or candidates, though, is going to be the
degree to which this activity stimulates or chokes o
sta attrition within the industry. I ear grips the industry
and consultants choose to stay put in their existing jobs,
this will signicantly reduce career opportunities in
consulting this year. I, however, sta attrition continues
its upwards trend once again, the hiring landscape will
be signicantly altered.
With pay disparities avouring those who choose to
move on, ears o redundancies and cutbacks in the
industry are the only things that will really hurt hiringvolumes in 2012.
With both monetary and hiring personnel resources
constrained, everyone is trying to determine which
channels are deserving o investment and which are
most likely to produce the required hires.
Continued on next page...
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We very much hope that this report will help to
address these issues or the recruiters amongst you.
Last but not least, our thanks go to the 153
consulting employers / recruiters who took part
in our client survey and the 1,272 consulting
candidates who participated in our candidate poll,
without whose responses this unique data could not
have been produced. We hope you derive valuable
insights rom this report and as always look orward
to serving your needs as the year unolds.
INTRODUCTION
Bryan HicksonManaging Director
Top-Consultant.com
Download the all newsecond edition o
The Defnitive Guide to UK
Consulting Firms
The Defnitive
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T. Restell & V. A. Kumar (eds)
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Recruitment and retention ratesData collected from 153 management consultancy recruiters
ONE
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Top-Consultant.coms Management Consultancy Recruitment Channel Report 2012PAGE 6
Our interactions with clients over the last months, together
with the survey data collected in January 2012, point to a
number o signicant actors that will shape the hiring market
over the coming year:
1. Hiring expectations taken across the UK consulting industry
are positive but more subdued than at this time last year,
when a ull blown recovery in consulting recruitment was
expected - and indeed was largely seen until the Eurozone
crisis erupted.
2. Recruiters are reporting greater competition to hire hot
skills and an increasing problem o counter oers derailing
recruitment eorts. For those skills that are in demand there
is very much a battle being waged to attract and hold on to
the necessary consulting sta.
3. With ee rates continuing to be squeezed, sustaining prot
margins means rms are ever more ocused on utilisation
rates. For recruiters this is translating into increased pressure
to deliver Just In Time recruiting namely ensuring that
new hires are brought on board only at the moment where
project wins mean they will be quickly deployed onto billable
assignments.
Side eects o this are that candidates are nding the hiring
that rms are doing is highly specialised; and the pace with
which recruiting rounds are conducted tends to ebb and ow
with changes in perceived client demand / market sentiment.
4. A particular challenge that recruiters have aced since
Autumn 2011 is overcoming candidates ears o moving
employer. The Eurozone crisis saw the return o hiring reezes
and / or redundancy rounds at some rms. This has made
candidates more risk-averse when considering a move - and is
leaving recruiters with the additional challenge o persuadingcandidates they are not taking an undue risk leaving the
saety o their current employer or the unknown o a new
employer.
SUMMARY
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Top-Consultant.coms Management Consultancy Recruitment Channel Report 2012PAGE 7
One o the key questions everyone wants to know is whether
employers expect their hiring to pick up again as the Eurozone
crisis ades. This time last year the results pointed to a very
strong upturn in hiring in 2011 compared to 2010. In essence
this is what came to pass - the rst 8 months o the year saw
hiring very signicantly up on the previous year. It was only
the Eurozone situation that derailed what would otherwise
have been a very strong year o recruiting activity.
Figure 1: 2012 Recruitment targets vs. 2011
Figure 2: Recruitment targets 2008 - 2012
Top-Consultant.coms survey o 153 recruiters clearly shows
that nearly 2/3 o recruiters expect to make more hires in 2012
than were made in 2011. Indeed 85% expect hiring in 2012 to
equal or exceed the levels seen in 2011.
The historical series below shows that our recruiters have
correctly predicted trends in the preceding years. The sharp
deterioration in 2009 hiring was accurately predicted, as
was the rebound in hiring in 2011. The act that these same
respondents are upbeat about 2012 is thereore a source o
reassurance or all those looking to secure a job in consulting
in 2012. Whilst explosive growth in hiring is not expected,
ongoing improvements in the hiring market seem to be the
consensus view.
Expectations point to a hiring upturn
21.3%
42.7%
20.7%
8.7%
6.7% Make considerably more
hires than last year
Make slightly more hires
than last year
Make as many hires as
last year
Make slightly fe wer hires
than last year
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Make
considerablymore hires
than last year
Make slightly
more hiresthan last year
Make as many
hires as lastyear
Make slightly
fewer hiresthan last year
Make
considerablyfewer hires
than last year
2008
2009
2010
2011
2012
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When asked to assess hiring demand by practice area, a
number o insights can be derived.
A score close to 1 in our chart indicates rms expect to
undertake little or no hiring in that practice area; while the
greater the number the more hiring is expected to see gains
compared with the previous year.
The public sector trend is very marked. The strongest area o
hiring demand in 2009, it has been decimated since and the
latest data suggests recruiters see no immediate upturn in
hiring demand within the public sector acing practice areas.
The Financial Services practice area - which like the public
sector accounts or around 1/3 o all consulting spend - has
ortunately moved out o sync with the public sector and sohas kept the consulting industry aoat in more recent years.
Whilst hiring expectations here are not as bullish as a year ago,
this is still the practice area where the industry collectively
expects to be doing the most hiring.
Energy & Utilities practices also look set to have a strong year
o recruiting - and certainly the expected trends indicated
or all three o these practice areas are being mirrored in the
activity levels we are seeing on Top-Consultant during the
rst weeks o 2012.
Likely hiring patterns by practice area
Figure 3: Recruitment activity by practice area
0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5
Financial Services
Energy & Utilities
Information Technology
Technology
Telecoms, Media & Entertainment
Healthcare & Pharma
Purchasing & Supply Chain
Retail / Consumer Goods
General Management
Engineering & Manufacturing
Distribution / Logistics
Automotive / Aerospace
Chemicals
Public Sector
Transportation
Facilities Management
Science / Research
Education
Leisure / Lifestyle
2012
2011
2010
2009
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Staf attrition to accelerate urther?
Overall the expectation or 2012 is that sta attrition rates
will hold steady at the heightened rates that were seen in
2011. Thats to say that replacing lost sta will continue to be
a source o considerable hiring demand, but attrition is not
expected to contribute to any increase in hiring over what
was seen in 2011. Instead any acceleration in hiring would
come rom actual growth o practice areas.
O course in some practice areas rms have introduced
retention bonuses to try and reign back the retention
problem; whilst counter oers we have already reerenced
as being a growing source o hiring rustration. Clearly any
worsening o sta attrition beyond whats anticipated here
will give rise to additional hiring demand and put a urtherstrain on recruiters capacity to deliver.
Figure 5: Sta attrition rates 2012
3.3%
20.7%
48.7%
23.3%
4.0%
0% 20% 40% 60%
Staff attrition rates will improve
considerably
Staff attrition rates will improve a little
No change in staff attrition rates
expected
Staff attrition rates will worsen a little
Staff attrition rates will worsen
considerably
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Top-Consultant.com.
Clickhere to nd out moreStaf attrition to accelerate
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Top-Consultant.coms Management Consultancy Recruitment Channel Report 2012PAGE 11
Two interesting ndings rom this years survey are i) that
consulting rms want overwhelmingly to make their hires
rom the ranks o the experienced consultant. Whilst in
parallel ii) theres a continuation o the 2011 trend where
ewer experienced hires will be looking or a new job within
consulting.
Taken in combination, these statistics paint the interesting
picture o an industry where not all rms will be able to hire
in the volumes they need or will have to compromise on
the backgrounds o those they hire and open their hiring up
to a wider range o prospective candidates. Recent history
teaches us that the latter outcome is the more likely and it is
our expectation that hiring must have criteria will soten as
the year progresses and these hiring difculties become more
pronounced.
Market will eel tighter
0% 10% 20% 30% 40% 50% 60%
Most likely to accept a job with a
consulting employer
Not looking to change jobs in the
next 12 months
Most likely to accept a job with a
client organisation
Most likely to secure some other
kind of role outside consulting
Most likely to accept a job in the
City
Most likely to accept public
sector/ charity job
2012
2011
2010
2009
Figure 6: Desired hiring profle 2010 2012
Figure 7: Candidates career intentions or 2009 - 2012
1
2
3
4
5
Experienced
hires from
other
consulting firms
Experienced
hires from
industry
Experienced
hires from
Government or
Public Sector
bodies
Experienced
hires from the
City
MBA f ina lists University
leavers /
Finalists
2010 2011 2012
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Recruitment channel use and the role of social media
TWO
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Top-Consultant.coms Management Consultancy Recruitment Channel Report 2012PAGE 13
The ollowing candidate job search trends we will be
presenting are based on data collected rom 10,000+
management consultancy candidates over the past ten
years. Candidates rom all the major consulting rms have
participated, together with consultants currently working at
niche consulting rms and potential industry hires looking to
move into consulting.
Prole o respondents:
Most this year were Business Transormation / Change
Management consultants (25.6%), Strategy consultants
(21.9%), IT / Technology Consultants (17.5%) and Project /
Programme Management consultants (15.1%).
The sectors that candidates this year had most experience oworking in were Telecoms, Media & Entertainment (31.6%),
the Public Sector (27.7%), Financial Services (Retail Financial
Services ocus) (23.1%), Retail / Consumer Goods (21.8%),
Energy / Utilities (21.5%), and Financial Services (Investment
Banking / Capital Markets) (17.5%).
Survey responses this year were generated via direct mailshots
to the Top-Consultant.com readership; an invitation sent to all
screened consulting candidates on the Get Headhunted
CV database; promotions via Twitter, LinkedIn, Google News
and Yahoo News, Forum posts and by invitations sent to
candidates by recruitment agencies.
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please email Bryan Hickson.
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Top-Consultant.coms Management Consultancy Recruitment Channel Report 2012PAGE 14
Let us now look back at candidate activity over the last 12
months and specically the channels used to look or new
career opportunities. Every year we ask candidates to record
the channels they used and the number o applicationsthat they made through each. Collating that data allows us
to analyse the penetration perormance o the channels
(how many candidates have used each) and the share o
applications achieved rom each o the six major recruitment
channels:
Wed already seen the low application volumes generatedby social media in last years ndings - and this year wanted
to gain a better understanding o this phenomena. The
data breakdown by social media brand shows that LinkedIn
has now reached 90% penetration within the consulting
proession. Facebook is verging on 60% penetration, whilst
Twitter has only just passed the 20% threshold.
Why not try advertising
or consulting
candidates on
Top-Consultant.com?
Our low-priced advertising
packages allow you to see
or yoursel the types o
results that recruiters are
experiencing by placing
their job listings on
Top-Consultant.com.
Clickhere to nd out more
Figure 8: Application channels used last time to apply or a job
Newspapers
Recruitment agencies
Internet job sites
Social media
Personal Contacts / Reerrals
Corporate Websites
10%
20%
30%
40%
50%
60%
70%
80%
Recruitmentagencies
Personalcontacts /
referrals
Internet jobsites
Corporatewebsites
Social mediasites (eg.
LinkedIn,Facebook etc.)
Newspaperadverts
20122011Candidate activity over last year
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Top-Consultant.coms Management Consultancy Recruitment Channel Report 2012PAGE 15
Given the importance o Twitter as a recruitment channel in
some sectors, this is an enlightening nding or consulting
recruiters. For now this remains a medium that will tap into
only a very small proportion o the consulting audience.
At the other end o the spectrum, the Linkedin ndings are
surprising when one considers that so ew applications
are being generated via social media channels, even with
90% take-up o the leading proessional channel. To try and
better understand this we asked candidate respondents what
they used their social media proles or. The ndings areilluminating.
Social Media
0%
10%20%
30%
40%
50%
60%
70%
80%
90%
Expanding my
professional
network
Raising my
profile as an
expert
Participating in
group
discussions
Sharing ideas
and resources
with my
network
Applying for
advertised job
openings
Directly
approaching
recruiters in my
network for a
job
Staying in
contact with
friends and
family
Maintaining
contact with
colleagues
Figure 9: Activities consultants engage in when using their social media profles? (more than one answer allowed)
The picture that emerges is one o consulting proessionals
using social media to expand their proessional networks and
to stay in touch with colleagues, riends and amilies. Use o
social media to proactively approach recruiters or to respond
to advertised vacancies is ar less common.
The most obvious conclusion to draw rom this is that
social media are most potent or recruiters as a channel to
proactively headhunt or approach candidates deemed to be
o interest; and correspondingly are less eective as a channel
to advertise openings and sit back and wait or a response.
Figure 10: Social media on which consultants are active users
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
LinkedIn Facebook Twitter Xing Viadeo MySpace
20122011
-
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Top-Consultant.coms Management Consultancy Recruitment Channel Report 2012PAGE 16
Looking forward
When the number o applications made by channel is actored
in, the picture remains much the same. Social media sites
do not yet account or even 10% o applications, compared
with over 30% or internet job boards. Even corporate sitesproduce greater application volumes.
Overall the conclusion rom this years survey is thereore
rather surprising. Running counter to the hype surrounding
social media, this data supports the view that many
consultants are now heavy users o social media but do
not use social media as a primary source or nding a new
job. It should be emphasised that this survey is o course
primarily a survey o candidates based in the UK and working
in consulting, so there is no suggestion that the same can be
said or other sectors or geographies.
Figure 11: Share o applications generated in last job search
0%
5%
10%
15%
20%
25%
30%
35%
Internet job
sites
Recruitment
agencies
Corporate sites Personal
contacts /referrals
Social media
sites
Newspaper ads
20122011
-
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Top-Consultant.coms Management Consultancy Recruitment Channel Report 2012PAGE 17
There is o course always a danger extrapolating past
behaviour to the uture. So as well as investigating past
behaviour, we also ask candidates to score the channels they
would expect to use when next hunting or a new job. This isthen a lead indicator or changes we can expect to see appear
in uture editions o this report. In previous years this orward
projection has proven to be very reliable when compared
with the actual results recorded in subsequent years.
As can be seen rom the results, candidates clearly intend to
modiy their job hunt strategies only marginally during their
next job search. There is no widespread expectation amongst
candidates that they will suddenly turn to social media to nd
a job more than they have in the recent past.
Figure 12: Channels most likely to use in uture
Looking forward
2
2.5
3
3.5
4
4.5
5
5.5
Personal
contacts /
referrals
Recruitment
Agencies
Internet job
sites
Corporate
websites
Social media
sites
Newspaper
adverts
1 = Least likely to use 7 = Most likely to use
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Historical trends in recruitment channel useand Recruiter & Media awardsData collected from 1,272 management consultancy candidates
THREE
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Top-Consultant.coms Management Consultancy Recruitment Channel Report 2012PAGE 19
O all the channels, newspapers have suered most in the
last ten years with candidate penetration levels having allen
considerably, down to below 15% in this years survey.
The Times and Financial Times newspapers are established
as the newspapers that consultants are most likely to read.
However, as the earlier penetration gures show, consulting
candidates are ar less likely to apply to roles they see in
newspapers than they were a decade ago, reducing their
eectiveness as a recruitment channel.
Newspapers
Figure 14: Newspapers and publications consultants read regularly
Figure 13: Penetration - Newspapers
0%
10%
20%
30%
40%
50%
2 00 2 2 00 3 2 00 4 2 00 5 2 00 6 2 00 7 2 00 8 2 00 9 2 01 0 2 01 1 2 01 2
0%
10%
20%
30%
40%
50%
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Top-Consultant.coms Management Consultancy Recruitment Channel Report 2012PAGE 21
Recruitment agency candidate penetration has held up much
better during the recession than it did during the dot-com
downturn. It is now picking up in line with the rebound in
recruiting across the proession and stands at just over 70%.
As well as asking candidates to recommend the best
individual recruiters, we also asked them to eedback to us on
the dierent recruitment rms that they have used. A ranking
o rms that received the most praise and the least complaints
was then produced. Congratulations to all rms listed.
Our special congratulations go to BLT who have secured the
top spot or the ourth consecutive year. Respondents praised
BLT or the qualities that made them stand out rom the
competition:
or having a ocussed and personal service
or their proessionalism, willingness to listen and
commitment to keeping the candidate inormed
throughout the process
or being knowledgeable, very well connected and
avoiding the hard sell
or going the extra mile in helping candidates to prepare
or interview and sharing their knowledge o the market.
Recruitment agencies
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2 00 2 2 00 3 2 00 4 2 00 5 2 00 6 2 00 7 2 00 8 2 00 9 2 01 0 2 01 1 2 01 2
Figure 17: Penetration - Recruitment agencies
Figure 18: 2012 top recruitment frms by praise
1 Beament Leslie Thomas (BLT)
2 Prism
3 Michael Warwick Nicholls (MWN)
4 Aston Carter
5 Consulting Point
6 Selecture
7 ChapmanBlack
8 Huntswood
9 Comms Point
10= Freshminds10= CNA
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Top-Consultant.coms Management Consultancy Recruitment Channel Report 2012PAGE 22
Recruiters - available
throughout 2012
All premium job listings
appearing onTop-Consultant.com will be
added to Jobsite or you at
no additional cost.
Take advantage
by registering or a
trial advertisingpackage
Alongside the rankings o recruitment rms, we asked
candidates to help us identiy the best individual recruiters
they had worked with. We asked them:
I you have been particularly impressed with an individual
recruitment consultant you have worked with in the past,
please provide their name & company so that we can give
them special recognition
Eleven individuals stood out as receiving the most praise and
we warmly congratulate them all or their success. They are
listed in no particular order:
Individual recruiters
Figure 19:
Best individual recruitment consultants 2012
Chris Sale (Prism)
Craig Milbourne (Comms Point)
Darren Head (Selecture)
Don Leslie (BLT)
Genene Cooper (MWN)
Paul Brown (ChapmanBlack)
Pete Nicholls (MWN)
Rakesh Pabbi (Consulting Point)Sasha Kemp (SK Consultancy Solutions)
Stephen Humphreys (Huntswood)
Victoria Barry Woods (Aston Carter)
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Find out how your rm could attract consulting hires by:
advertising on our websites advertising in our consultancy-ocused publications
accessing our CV databases
running bespoke careers events
participating in the annual Consultancy Careers Fair
CALL TO SPEAK WITH ONE OF OUR TEAMFor more inormation on Top-Consultants services or i you have any questions about
the data in this report please contact Bryan Hickson or Tony Restell on 0207 667 6880
or email them on [email protected] [email protected].
REQUEST A BROCHUREAlternatively, please eel ree to request a PDF brochure detailing our services.
You may do so by clicking here.
EMAIL USFeel ree to email our Customer Services team with any questions
you may have, using the address [email protected].
2012 Top-Consultant.com. All rights reserved.
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