LONDON, ENGLAND, July 13, 2011
/24-7PressRelease/ -- Economic conditions in South Wales and the South West may still feel unsettled, but signs are pointing to a gradual upturn in the market. The economic powerhouse cities in the region, Bristol and Cardiff, are averaging 5.2% unemployment - an improvement from around 7% in Q1 last year. Michael Page is traditionally a strong indicator of market sentiment, and our Executive Search business has reported year-on-year growth of 25% for the region.
Industries on the up
The South West and South Wales have benefited from the strength and scale of their traditional industries like food and aerospace. "Bearing in mind the region houses over 15,000 manufacturing organisations alone, this remains an exceptional part of the country to do business across a range of industrial and service sectors," said David Thomas.
Diversification in the market, away from these traditional industries, is also helping the slow return in confidence to the region. The focus on high-tech and the recovery in financial services markets has resulted in an upturn in recruitment trends, as has investment in industries like renewable energy - a particular strength of the area.
Skills in demand
"Although the recruitment pages of traditional printed media continue to be thin, it's not necessarily reflective of the senior recruitment market," according to Miles Greenslade. There is a good demand for strong operational and strategic leaders across all business functions. Particularly, the need for talented finance and general and commercial executives has risen during the last quarter.
"Candidates have tended to be less visible in their search, preferring to hunker down within their current organisation. But our research team have seen a strong rise in good candidates open to a conversation in the past year, so we feel the cautious approach to career advancement is gradually lifting," added Miles.
Invest in talent
It's reassuring to see signs of recovery in the South West and South Wales. "Investing ahead of the curve can be a key part of successfully taking advantage of improved market conditions and the right people form an absolutely critical part of any investment strategy," said David Thomas.
To understand how Michael Page
Executive Search can add value to your executive-level hiring process in the South West or South Wales, please get in touch with
Miles Greenslade or
David Thomas.
Website:
http://www.michaelpageinternational.com---
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