What did 2016 bring the technology recruitment industry?

Towards the end of 2016 I reflected on what the year had brought the technology recruitment industry. Speaking to clients, candidates and colleagues, most agreed that Brexit, Trump's election and the fluctuation of global markets, meant that 2016 was a challenging, but also interesting, year. Difficult market conditions have led businesses to retract from engaging in major recruitment programmes, choosing to wait until clarity prevails.

“The creation of new ideas, technology and innovation led to an explosion of new start-up and Fintech companies expanding into the market.”

Blockchain

However 2016 did experience some positives. We saw the emergence of specialist expertise such as Artificial Intelligence, Robotic Process Automation, Cloud, IoT, Cyber Security, Big Data and Analytics increasing their footprint in the market. The creation of new ideas, technology and innovation led to an explosion of new start-up and Fintech companies expanding into the market, challenging the status quo and disrupting traditional ways of thinking.

2017 - The rise of Interim Specialists

In January, I prepared myself for a challenging start to the year. I believed the challenges that we saw in 2016 would continue through to the beginning of 2017, especially with the ongoing uncertainty surrounding Brexit and Trump. I was correct with these predications, however there is already one trend that it starting to come to light. There is an enormous demand for Interim specialist technology skills within AI, RPA, Cloud, IoT, Cyber, Big Data and Analytics. Such demand will continue to grow with new business models to challenge the norm. The rise of the machines is nigh!

“The rise of the machines is nigh!”

Robotics

There is now a real necessity for businesses to engage with new technologies and integrate cost- reduction initiatives to enable a competitive advantage. Couple this with the uncertainty in the market and the haste needed to be ahead of the competition, organisations are finding a flexible Interim talent pool of significant benefit.

Fintech start-ups are gaining more traction in an ever-increasing disruptive market. They are attracting talent from the bigger institutions who feel smothered in red tape and regulation. Customers are seeking faster, easier and more nimble applications which allow the customer to be in control.

PSD's Interim business is progressively being asked by clients to build interim team solutions. We are seeing the emergence of niche consulting organisations who are challenging the “Big 4” model. Alternative flexible Interim solutions are providing highly experienced teams at a more cost-effective price. No longer are clients accepting significant consulting fees for inexperienced, unworldly and unproven consultants to subsidise the Partner's third home! These alternative flexible Interim solutions are providing a delivery-focussed model which works for the client, on behalf of the client.

"PSD's Interim business is progressively being asked by clients to build interim team solutions."

As we progress into 2017, Regulatory Risk, Compliance and Conduct Risk will continue to be high on the agenda of most board executives. A very high percentage of revenue is being spent in this area, particularly within the Financial Services sector.

PSD well placed to assist clients

To conclude, although there will be significant challenges in 2017, the year has started out positively. The emergence of disruptive new technologies, continued regulatory risk requirements and project-based initiatives, will most probably result in a continued demand for specialist interim skills; this is where PSD is very well placed to assist our clients.

Our Interim business has been actively supporting our clients for 16 years across Innovation, Transformation & Change, Technology, Risk, Finance, HR, Sales & Marketing and Operations functions, covering the Technology, Fintech, Financial Services, Property, Leisure, Retail, Travel, Hospitality, Defence, Professional Services and Sports sectors.

We have an enviable black book of Interim C-Level / Executives to provide strategic thinking, direction and guidance (growth & restructuring), through to providing the programme team (Programme Directors, Project Managers, Business Analysts, Architects) to deliver it.

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