Articles

The Corporate Governance Market in London in 2021

Despite the tumultuous start to the year in the UK, the jobs market remained fairly stable, and if anything showed some modest signs of improvement through the first quarter of 2021

The employment market in the Corporate Governance space in London was quite buoyant until April 2020, when the pandemic had fully taken effect in the United Kingdom

Many companies asked employees to work from home, other employees were made redundant as well as many being furloughed.  Some professionals working on a consultancy basis also had their contracts cancelled

However, there is light at the end of the tunnel, as the country slowly begins to return to some form of normality. Companies are still asking employees to work from home, but are also strongly considering asking furloughed employees to return to the offices by the 3rd quarter of the year, subject to the pandemic continuing to ease

Companies are beginning to increase headcount requirements back to almost normal levels, with the difference being that due to the reduction in recruitment in 2020, employers have decided to demand that the HR departments engage in direct recruitment as other HR duties are much reduced in an attempt to save recruitment costs, which are not insignificant

Clearly, as there are an unusually high number of candidates available this is proving to be successful, but that notwithstanding, companies are once again beginning to engage Recruitment Agencies for Manager level assignments and Executive Search firms on more specialist and difficult hires, mainly at the senior end of the market

Salaries have also remained very stable and in some instances have taken a dip due to the oversupply of candidates available on the market

However, candidates with specialist experience (for example Fixed Income Advisory, Investment Guidelines, Capital Markets) are still in demand and so can command the same salary pre lockdown

At AJB we remain fully engaged with many clients and are working on many assignments within the corporate governance space and expect this to continue until the year end

May 2021

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