Corporate Governance Market Rides Out The Recession

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New market report shows increase in recruitment figures.

Whilst we are confident that the demand for corporate governance professionals will continue to improve and shortages of staff in certain specialists areas are already emerging, economic developments remain key. Unfortunately many of the underlying problems in the economy remain unresolved.

Barclay Simpson, corporate governance recruitment specialists, released a report today which shows an upturn in the number of companies looking for new corporate governance staff.

Barclay Simpson’s free 2010 Market Report comprises a Corporate Governance Market Report and five separate reports covering the constituent markets: Internal Audit, Risk Management, Compliance, Information Security and Legal. The report reviews the events of 2009 and assesses the employment prospects for corporate governance professionals in 2010.

Not surprisingly the recession had an impact on the corporate governance recruitment market. There were redundancies and employment prospects remained challenging throughout 2009. However, data from Barclay Simpson indicates that people working in corporate governance enjoyed higher job security than in other areas of the economy.

The report demonstrates that June 2009 was a pivotal time. Vacancies were 53% higher in the second half of 2009 than in the first six months of the year. Although the number of vacancies remain 32% lower than pre-credit crunch levels, the growth in employment opportunities is continuing.

Adrian Simpson of Barclay Simpson attributes the recovery to the stabilisation of the banks and the wider economy and particularly to the high profile role that governance and regulation now play in the management of companies.

“We are cautiously optimistic about the recovery that is underway within the corporate governance recruitment market. Bank failures have focused attention on their governance and regulators throughout the world are responding. We have not seen the wholesale redundancies that were commonplace during the recession of the early 1990’s. It is clear that corporate governance is no longer perceived as a ‘nice to have function’. It is a ‘must have requirement’ to remain in business.”

This optimism is also reflected in the number of candidates registering as a result of redundancy or the potential threat of redundancy. In the last six months the percentage has halved. However, not surprisingly, it remains substantially an employers’ market. Those looking for corporate governance jobs frequently need to be flexible and salary increases remain anaemic compared to pre-recessionary increases.

On the outlook for corporate governance employment in 2010, Adrian Simpson comments further, “Whilst we are confident that the demand for corporate governance professionals will continue to improve and shortages of staff in certain specialists areas are already emerging, economic developments remain key. Unfortunately many of the underlying problems in the economy remain unresolved.”

Download the report free: http://www.barclaysimpson.com/market-report/

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