London Job Market Overview (Snapshot)
London is one of the main global employment hubs with extensive European and international business operations of major corporations. It also has a large commutable catchment area from Greater London and surrounding counties in South East England. Financial services institutions provide a disproportionate amount of wealth creation and form a mainstay of the London economy. Executive appointments are very often within the context of a global talent pool with a network of international headhunting companies in Europe and North America.
Wider Impact of ‘Brexit’
The overall impact of ‘Brexit’ is yet to be determined, though this should not necessarily impact global talent searches too greatly. Some re-location of offices and headquarter functions may be required for certain corporations or legal purposes. As we operate in a global economy, there needs to be a willingness to deliver a fair result and negotiated settlement to facilitate trade and without restricting the acquisition or movement of global talent. Global recruitment from a global talent pool will still happen, though it depends on the type of regulations and expectations surrounding the free movement of people or whether greater restrictions are enforced. Exceptional global talent will always be resourced regardless because it is about getting the right person for the job. There will always be exceptions, specialist expertise or leadership talent that still needs to be recruited, regardless of policies, restrictions and salary levels.
London Employment Hub
Many global corporations have established worldwide headquarters, European head office or regional offices, so giving a diverse range of opportunities with globally-recognised brands across different employment sectors. There have been some notable exceptions with the BBC (British Broadcasting Corporation) relocating many of its operations to Manchester (Media City). These all combine to deliver a diverse employment landscape for London.
Emerging Employment Trends London
There has been rapid growth in high technology, innovative and research-based organisations with major global corporations supporting start-ups and investments by offering substantial guidance and seed capital to get initiatives off-the-ground. Companies such as Google, Facebook and Vodafone have established a presence within London, with a concentration of start-up ventures surrounding the Shoreditch area. This has become known as ‘Tech City UK’ or ‘Tech Roundabout’ where there is a high level of entrepreneurial activity, with executives being recruited to drive new opportunities in a rapid growth technology / innovation sectors. Getting on-board early with start-up ventures can give executives access to exciting opportunities with innovative / market-leading products with potential to share in long-term success, so consider opportunities on individual merit and benefits from owning part of a company by negotiating an equity share.
Executive Search and Selection London
Searching for opportunities in London is made easier with the volume of resources available to the job seeker, though competition can be intense. There are dedicated executive job boards, online resources and specialist / niche executive headhunting firms each competing within the context of a very strong talent pool. This makes it crucially important for executives to stand out at the very highest level by having a strong personal brand and an effective networking / online presence via LinkedIn.
High Profile Executive Roles
Executive headhunting firms often have strong networks across London and much of the UK by dealing with top-level appointments on a global / international / national basis with an extensive search and selection process for highly remunerated / top profile positions. These are often referred to as Tier 1 Executive Headhunters, though most executives will never make contact with these.
Networking Influential Contacts London
With a critical mass of business leaders, executives, entrepreneurs and influential contacts in one place, London is an excellent place to network, build relationships and do business. Networking is often key to unlocking executive opportunities as up to 70% of jobs are never advertised (notion of the ‘hidden’ job market). Professional memberships, associations and the Institute of Directors are good examples of where to build influential contacts networks. Again, it is important to follow-up contacts and engage with them via LinkedIn or an email to make the contact more ‘permanent’.