Current Hiring and Staffing Trends in the Market Research Industry
Based upon decades of experience helping market research professionals advance their careers, Reeve & Associates would like to periodically share our perspective on the job market.
During the first quarter of 2013, we have seen an increase in the number of advertised jobs, more clients requesting assistance, and generally greater interest in hiring.
Overall, businesses are doing well -- maintaining and even increasing profits.
Prior Industry Updates
Below are previous summaries reflecting our perspective of the market research job market.
In summary, staffing slowed toward the tail-end of Q2 and continues through Q3. Employers extending offers seek to contain salaries -- resulting in most offers being declined. However, the demand for experienced researchers remains strong. We are optimistic that the salary disconnect will be resolved after the Presidential election. We encouarge you to watch the video and review the bullet points below for more insights.
During Q2 and Q3, 2012, the pace of hiring has slowed, driven by:
Q2, 2012: Industry Interview with Bob Lederer
Recently Bob Lederer of RFL Communications interviewed Phil Reeve of Reeve & Associates to better understand the current staffing trends for Market Research professionals.
The discussion focused upon many critical staffing topics, including:
The interview has been deemed as a "must see" for all hiring managers and HR professionals -- particularly those expanding or re-staffing their research organizations.
Click to view either or both segments of the interview.
Part I is available at http://youtu.be/cHZEACh676M
Part II is available at http://youtu.be/G00R6YdVmoI
As Bob said, "it's good stuff from an expert!"Top
2012: Number of Career Opportunities
2012: Skills in Demand
2012: Hiring Industries
For more frequent staffing insights within the market research industry, please feel free to connect on LinkedIn (http://www.linkedin.com/in/philreeve) follow us on our new Twitter account at http://twitter.com/reevejobs.
You can also view the ReeveJobs Channel on YouTube as well.Top
During the first quarter of 2011, we expect the pace of hiring in the first half of 2011 to dramatically accelerate. Employers will seek to fill jobs that have been vacant for months -- or even years. Weary MR teams need some new blood to handle expanding workload and to revitalize their departments.
We clearly see the economy stabilizing resulting in growing confidence for the employer and the candidate.
To help hiring managers and candidates, we conducted a survey exclusively among market research professionals. We believe the results are critically important to understand the current status of the job market for MR professionals.
Please take a minute to view our Q1 Outlook video. We're confident the survey results will help everyone looking to staff MR professionals.Top
In the third quarter of 2010 employers appeared ready to hire as the economy continued to stabilize and many firms appeared “motivated” to fill their open positions. However, the same game often played out. Many employers were unwilling to pay market prices for research talent—continuing to insist on lower salaries resulting in many unstaffed positions.
There is a growing list of employers who have regretted this approach as quality candidates refused to leave their current job, or accepted offers reflecting true market salaries. In an effort to meet their budget, some employers hired less experienced researchers only later to express some regret with their own hiring decision.
Based upon an increase in the number of job ads and calls we have received for recruiting assistance, we expect more companies will attempt to hire in Q4. However, it remains unclear if hiring managers are willing to pay what it appropriately takes to staff an experienced research professional. We believe the battle between hiring managers and Human Resources for higher salaries will intensify in Q4 and well into 2011.
Bottom line: we expect a brief burst of hiring in Q4 with employers keeping a very tight reign on salaries.
Only time will tell if employers can see the forest for the trees as many research positions remain unstaffed.Top
Despite the summer months acting as the traditional vacation season within the MR industry, we are seeing an increased demand for researchers at all levels. After two years of downsizing, companies want (and in our opinion--need) to hire.
Among the emerging trends: Growing demand for:
This is all good news.
Unfortunately, many employers continue to believe candidates should be "pleased" to receive any job offer in the current economy. Few seem to understand good candidates--who are always in demand--need to be "wooed" with attractive offers to secure an acceptance.
Candidates with whom we speak are increasingly open to discussions and exploring new positions but remain cautious about making a career move.
Interestingly, we are also seeing employers make aggressive counter offers to keep good researchers on their teams. Before accepting an offer and resigning, candidates need to consider how they may handle counteroffer situations. We will gladly help candidates navigate this important topic to help maximize their long-term career potential.Top
As we approach the end of the first quarter, I wanted to share our perspective on the job market with you.
Fortunately, the demand for hiring has increased significantly. Employers are looking to expand their teams with quality researches to reduce the current workload and tackle new projects.
However, the salary expectations of many employers (based on their job requirements) remain out of line with historical metrics and the value delivered by seasoned MR professionals. Consequently, many employers are being "penny wise and pound foolish" as they continuously advertise for jobs they cannot fill due to unreasonably low salaries. We urge candidates to ask employers how long they have been trying to fill any given position.
As you know and have likely experienced firsthand, there is a greater workload being placed upon MR professionals who are currently employed -- many who have not received a raise or bonus in the past one or two years.
And with the additional stress of more demanding workloads, cracks are appearing in employee's goodwill toward their employer. Many MR professionals are open to or actively exploring career opportunities. Additionally, many MR professionals also tire of providing minimal quality work in an effort to address the overwhelming demands for their services.
And while the hiring process remains slow, the imbalance that has emerged over the past two years is now beginning to swing in favor of the candidate.
In our view, demand for experienced candidates will continue to grow throughout 2010 as:
Importantly, candidates will experience greater compensation as the demand for MR professionals grows throughout the year.
Our suggestion is that it may finally be time for MR professionals to take an objective review of their contributions, workload, career aspirations, and compensation and see how they match to their current position.
We hope you will find congruency. But if you don't, this spring may be the time to take a look around after a two year winter.Top
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