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The UK is crowned number one in the latest European Executive Recruitment Consulting Industry Barometer. The Barometer assesses recruiters’ estimation of short-term trends in the executive sector in six countries: Germany, Belgium, France, Spain, Italy, Luxembourg and the United Kingdom. Participants were asked about the number of assignments they have had, the revenue of their companies and their predictions on future developments of the recruitment industry.
While Britain takes the first place, it is closely followed by Belgium, Germany and Luxembourg. Southern Europe, on the other hand, is clearly lagging behind with the Spanish market performing the worst (-30), compared to Italy (-8) and France (-6).*
The UK reached the top of the table with an index of 35. There, 90% of participants stated that the domestic market was “satisfactory” or “good.” 80% of respondents also said that business activity was up. Belgium came second reaching an index of 34 as 56% of participants were satisfied with the market situation compared to 27% of respondents who rated it as “significant.” Germany is also in the top three with an index of 30 although this is significantly down from previous studies. Almost 60% of participants rated the state of business as “good” and 36% as “satisfactory.” Over 50% also said that the industry had remained a strong position with about 40% stating that it had even grown.
Luxembourg also performed well and came fourth with an index of 29. Over 60% of recruiters there rated the market as “satisfactory” while almost 80% were happy with the number of their assignments. In general recruiters were positive about the state of the market and half of the respondents believed that business there had grown.
In Southern Europe, France ranked above Italy and Spain and reached an index of 28. Half of the respondents were satisfied whereas 41% stated they were unsatisfied with the market. Many also believe that business will continue to hold up. Italy has an index of -7.7, which is a significantly worse performance than in previous studies. Many were unsatisfied with the state of business and forecasted a stagnation of the market. Somewhat paradoxically, however, over 60% reported a growth of revenue. Spain was, perhaps unsurprisingly, at the bottom of the league table reaching a negative index of -30. With the national economy being in turmoil, many (60%) were pessimistic and unsatisfied with current assignments, reporting little growth in the market and forecasting a downturn in business activity.
*A negative indicator means that recruiters that have a more pessimistic view of their current state of business and /or of business prospects are more numerous than those Recruiters with a favourable vision.