CRM Market Commentary From  2009

An Overview

We saw a recovery from what was a significant downturn in opportunities over the last 12 months. The factors that drove this downturn included:

* an increased level of restructuring

* a reduction of departmental budgets

Therefore…

* there was a general lack of confidence

* an overall reluctance to create change and or move jobs

A Reduction in Budgets

* budgets were tightened and caution was practised

*  as 2009 came to an end we saw a significant loosening of the purse strings but we anticipated greater availability of funds for 2010

Levels of Restructuring

* there was evidence of a  settling down and a cohesion and maturity of teams

Maturing of Risk

* we did not anticipate the same level of growth however there were specific areas of opportunities for specialists stemming from new legislation and policies

Lack of Confidence

* as it is recognised that the Global Financial Crisis is behind us we started to see greater levels of confidence in candidates and a willingness/keenness to review their careers

Trends

It has been a difficult 12 months for the Risk and Compliance sector but there are definite signs of recovery. Most of the activity however is at remuneration levels below $120/130k. As we go further up the pyramid we see greater levels of maturity leading to far less movement and fewer new opportunities. Just like a pyramid risk and compliance functions have been built from the top down so there really is little room at the pointy end!

Looking forward we have anticipated a significant pick-up in 2010 for the reasons outlined in the overview.

Flight to Quality

As the market has matured and demand reduced we are no longer in a rapid growth phase therefore an increasing demand for higher calibre candidates is evident. Candidates need to respond and adapt their expectations. The criteria include foremost interpersonal skills and ability to influence. Technical knowledge, specific product and business knowledge and the ability to be flexible and learn are key attributes.