Barclay Simpson’s 2013 Market Reports ready to download

This is the 23rd year we have produced market reports summarising and analysing recruitment trends in corporate governance. In addition to the overall Corporate Governance report, there are separate reports for:

• Internal Audit

• Compliance

• Risk Management

• Information Security

• Legal

The reports review developments during 2012 and provide insights into how the recruitment market will develop for the remainder of 2013.

2012 ushered in a new economic reality

2012 was a pivotal year for the corporate governance recruitment market and for the UK economy in general, as during the course of it, it became clear that a return to the levels of economic growth to which we have become accustomed over the last few decades is unlikely to happen in the foreseeable future.

During 2012, the Eurozone crisis dominated the corporate governance recruitment market. The frequently reported imminent unravelling of the Eurozone seriously dented the confidence that drives recruitment. We assumed that should the problem be resolved, confidence in the UK recruitment market would be re-established and a sustained recovery would begin. We no longer believe this. Whilst an enduring solution to the Eurozone crisis has not been found, a rescue system is in place and it is clearly not the threat it was.

Given this and the lack of any real recovery in the UK economy, there is now widespread recognition that the UK together with the Eurozone is set for an extended period of low growth. There are simply no monetary levers left to be pulled. Moreover, the economy remains exposed to potential further downside risks.  The financial crisis and the resulting unsustainable levels of debt have undermined the UK economy more seriously than anticipated. There is now widespread recognition that there will not be an imminent return to anything like business as usual. The sources of potential growth remain obscure. As a result, people and businesses are adapting to a low growth environment which we expect to be the new business as usual. We now operate in a cautious, cost conscious business environment.

However, this recognition is at least providing a level of relative certainty. It potentially forms a realistic basis for planning that encourages the type of decision making and investment that the recruitment market relies upon. Confidence and the mood and metrics of the corporate governance recruitment market have improved and are providing the basis for a modest recovery.