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Corporate Governance Mid Year Market Report 2012

Welcome to Barclay Simpson’s 2012 Corporate Governance Mid Year Market Report.

This is the 22nd year we have produced market reports summarising and analysing recruitment trends in corporate governance. This report serves to review developments during 2012 and to provide an insight into how the recruitment market for corporate governance will develop for the remainder of the year.

In our previous report in January, our opinion was that the best hope for the recruitment market was a period of anaemic growth with no further crises. Under these conditions we believed that the recruitment market could function at near normal levels. This hope has not been met. Zero or negative growth in the UK combined with the persistent debt related issues in the Eurozone has created uncertainty. As we have stated before recruitment is a form of investment, particularly in a service led economy and uncertainty saps the confidence to invest.

If companies do not feel able to invest they will focus on reducing costs. The effect on recruitment is that a lack of investment reduces overall demand for staff and a focus on cost leads companies that do recruit to do so in ways that minimise the short term cost but, as we argue, often at the expense of making the long term optimal hire. In corporate governance recruitment, despite regulatory pressure, this has led to demand being subdued and to companies trying to fill their positions through internal applicants or direct external hires.

However, while the corporate governance recruitment market may not be functioning normally, it is functioning. Corporate governance is still a good profession within which to build a career.  Vacancies are being created and people are advancing their careers by changing jobs. This is the positive note on which we can hang our hopes. There is still significant latent demand that will be released once the Eurozone centred uncertainty lifts and the UK economy achieves some level, however weak, of growth. The problem is that there is little likelihood of a resolution to the Eurozone crisis in the short term and without it we will have to continue our wait for investment to stimulate growth and recruitment.

For more in-depth coverage, comprehensive market reports exist for Internal Audit, Compliance, RiskSecurity and Legal recruitment markets.

We place great value on the professional reaction to our reports and would appreciate your comments or any requests for further clarification or information. Please feel free to contact us on 020 7936 2601 or bs@barclaysimpson.com.

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