At Cogs the Client Services team cover perm roles between £25k-£180K and freelance/contractors at equivalent levels for account management, project management and strategy. We work with 60 of London’s best creative agencies. Three quarters into 2011 and I thought I would write about some encouraging signs:
– We’ve seen a 10% increase in perm roles across digital and integrated agencies when comparing Jan – Sept for 2010 and 2011.
– The biggest increase when comparing Jan – Sept for 2010 to Jan – Sept 2011 has been in freelance roles which has grown by 100%. At the same time day rates for contracts have come down. The rise in freelance requirements this year is certainly in part being driven by economic fears meaning companies don’t want to make a long term commitment to perm hires.
– We’re meeting more people looking for new roles this year compared to last with a significant increase in people looking for freelance. The increased numbers of freelancers is one reason why rates are coming down but the fact more people are looking for new roles suggests a little more confidence in the market.
– We’ve noticed an increase in mid-weight roles (£30-£40K) but having come out of a recession where agencies didn’t invest in grassroots talent there simply aren’t enough people in the market for the volume of roles. Great news however if you are in the early stages of your career as there is lots of choice!
– Agencies are still not investing enough in grassroots talent favouring hiring experienced people that have lower needs for training and support, perhaps this is amplified by the state of the economy and companies not making as much investment into their people. But when you combine this with the increased restrictions on immigration we’re facing a real lack of succession and new talent coming into the industry.
To finish on a slightly more positive note; both perm and freelance roles show no sign of slowing down when we compare Sept 2010 to 2011. This is encouraging against the backdrop of doom and gloom in the global economy – the stock markets may be falling off a cliff and cash may get a little tight when Greece default but the outlook for digital talent remains high!