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8/11/2019 Top-consultant 2014 Recruitment Channel Report
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Top-Consultant.com s Management ConsultancyRecruitment Channel Report 2014
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Introduction
Part I - Recruitment trends
Part II - Recruitment channel use
Part III - Historical trends in recruitmentchannel use and Recruiter & Media Awards
NewspapersInternet job sites Personal contacts and referralsSocial mediaCorporate websitesRecruitment agenciesIndividual recruiter awards
Top-Consultant.com
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INTRODUCTION
Bryan Hickson Managing Director Top-Consultant.com
Top-Consultant.com
Now in its thirteenth year, this unique report hasbeen produced to help those facing the challengesof the UK management consultancy recruitmentmarket in the coming year, both recruiters andconsulting candidates alike.
Part One of the report is based on responses to acomprehensive survey of the Top-Consultant.comconsulting recruiter contacts and focuses onrecruitment and retention data and trends withinmanagement consultancy.
Unsurprising perhaps given the 800+ responsesthat we have now received to these surveys, therecruiter report has historically proven to bean extremely accurate predictor for what hasgone on to occur within the managementconsultancy hiring market. The picture thatemerges this year is of an industry that is lookingahead confidently to a year of strong growth - over93% of consulting employers reporting they arelooking to hire staff this year at least as fast asthey did last year with the overwhelming majoritysaying hiring will accelerate further in 2014.
This positive outlook is only qualified perhaps bythe skills shortage and war for talent that manycommentators including the MCA already predict.
Part Two looks at the appeal and effectivenessof different recruitment channels from thecandidate perspective and includes rankings ofrecruitment agencies, job boards, offlineproviders and so on. It too is built around acomprehensive survey and with ~12,000responses it also has been an accurateforecaster of the changing use of the establishedrecruitment channels as well as the newchannels that have become available to them.
Taken together, I am confident that we havegenerated the definitive resource for planningrecruitment campaigns and maximizing theeffectiveness of candidate applications.
Our thanks go out to all those that havecontributed once more to the surveys and wehope that you find this report a valuableresource. As always, the team at Top-Consultant.com look forward to helping you allwe can as the year unfolds.
http://www.top-consultant.com/http://www.top-consultant.com/http://www.top-consultant.com/http://www.top-consultant.com/http://www.top-consultant.com/http://www.top-consultant.com/http://www.top-consultant.com/http://www.top-consultant.com/http://www.top-consultant.com/http://www.top-consultant.com/http://www.top-consultant.com/8/11/2019 Top-consultant 2014 Recruitment Channel Report
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Recruitment trends Trend data based on over 800 recruiterresponses
Part One
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Expectations are certainly positive for the coming year, inspite of continued unease about the ongoing economicoutlook, with over 93% of consulting employers reportingthey are looking to hire staff this year at least as fast asthey did last year with the overwhelming majority saying hiringwill accelerate further in 2014.
While hiring expectations taken across the UKconsulting industry as a whole are favourable, they arealso patchy with the rebound not expected to be feltacross all industries and functional areas.
Attracting enough candidates with priorconsulting experience will continue to be a challenge.Though more consultants are reporting that theywould like to stay within the profession this year,recruiters continue to favour experienced consultanthires so there will be increased difficulties in holding ontoexisting staff as well as poaching new joiners fromcompetitors.
Why not tryadvertising forconsulting
candidates on Top-Consultant.com?
Our low pricedadvertising packagesallow you to see foryourself the types of
results that recruiters are experiencing by placing
their job listings onTop-Consultant.com.
Click here to find out more
Top-Consultant.com EXPECTATIONS
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Surely the most important metric we provide each yearis the one we turn to first: how do employers anticipatetheir hiring volumes for 2014 will compare with thosefrom 2013? We are pleased to report that recruiters'expectations for the coming year are upbeat with thefewest respondents expecting lower hiring levelsthan at any time since the Lehman collapse.
This year 80% of recruiters polled expect to makemore hires this year than last year (up from 67%last year) with over 32% of employers this yearlooking to increase their hiring aggressively.
Figure 1: 2014 Recruitment targetsvs. 2013
Figure 2: Recruitment targets 2008- 2014
Top-Consultant.com
32.6%
47.8%
13.0%
6.5%
0.0% Make considerably more hiresthan last year
Make slightly more hires thanlast year
Make as many hires as lastyear
Make slightly fewer hiresthan last year
Target for the year is to makeconsiderably fewer hires thanlast year
0%
10%
20%
30%
40%
50%
60%
2009 2010 2011 2012 2013 2014
Make considerably morehires than last year
Make slightly more hiresthan last year
Make as many hires aslast year
Make slightly fewer hiresthan last year
Make considerably fewerhires than last yearHIRING VOLUMES
The historical series below shows that recruitershave correctly predicted trends in the last preceding
years. The sharp deterioration in 2009 hiring wasaccurately predicted as was the hiring rebound in2011 that is until the Eurozone crisis impacted andhiring fell off in the final third of that year. Explosivegrowth in hiring is not expected but the gap to boommarket hiring levels is surely to be cut again thisyear.
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Figure3:
What staff attrition rate has yourconsulting business experienced in the
last year?
Figure4:
What do you believe will happen tostaff attrition rates during 2014?
Top-Consultant.com
8.7%
34.8%
41.3%
6.5%
8.7%
0% 20% 40% 60%
Staff attrition rates will improveconsiderably
Staff attrition rates will improve alittle
No change in staff attrition ratesexpected
Staff attrition rates will worsen alittle
Staff attrition rates will worsenconsiderablyATTRITION
11%
33%
28%
20%
4% 4% 0-5% of consultingstaff left
5-10% of consultingstaff left
10-15% of consultingstaff left
15-20% of consultingstaff left
20-25% of consultingstaff left
The UK consulting market as a whole is experiencing amedian rate of staff loss at just over 10%, which is more
or less unchanged from 2008. Naturally some firmshave suffered more than others with 4% reportingattrition rates of over 25% compared with 11% ofrespondents reporting between 0 and 5% of consultingstaff had left the firm over the last year.
The rate of staff attrition is of course a significant driverof recruitment activity and it is interesting to note thatmore firms report an expectation that staff retention willget worse over the next 12 months (43%) comparedwith those that retention rates will improve (15%). Giventhis, it is certain that more of the expected recruitmentthat we have seen reported from employers will be tosimply stand still in terms of headcount rather than fuelincreased demand for consulting services and growth.
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The hiring rebound will not, however, be seen acrossthe board. We ask recruiters to identify the areas theyexpect to be undertaking the most hiring and in the chartthat follows, a score close to 1 indicates firms expect toundertake little or no hiring in that practice area; whilethe greater the number the more hiring is expectedcompared with the previous year.
Amongst recruiters the expectation is that thestrongest hiring is expected in Financial Services - thelargest source of private sector consulting spend by far followed in 2nd and 3rd places by Technology and IT ,both leapfrogging Energy & Utilities this year.
The forecast demand for candidates that specialise in theEngineering & Manufacturing and Automotive/Aerospaceindustries is up, while the Public Sector falls back a little.
Figure 5: Recruitment activity bypractice area
Top-Consultant.com
LIKELY HIRING BYPRACTICE AREA
0 1 2 3 4 5
Financial ServicesTechnology
Information TechnologyEnergy & Utilities
Healthcare & PharmaTelecoms, Media & Entertainment
Retail / Consumer GoodsEngineering & Manufacturing
Automotive / AerospacePurchasing & Supply Chain
Public SectorGeneral ManagementDistribution / Logistics
TransportationScience / Research
ChemicalsEducation
Leisure / LifestyleFacilities Management
2010
2011
2012
2013
2014
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When asked to provide the same steer on the types ofconsulting expected to be contributing to hiring demand, itis encouraging for the health of the sector as a whole tosee the increased appetite for strategy consulting hires.Strategy consulting is often seen as a bell-weather for thestate of the consulting industry as a whole, so to recordstrategy in first place , when it was fourth last year, and topthe last time back in 2010, is a positive reflection onmarket sentiment for the year ahead.
Project/Programme Management and Business ProcessImprovement stay steady in second and third places andTechnology consulting drops from top last year to fourth.The appetite for Outsourcing and CRM hires drops thisyear.
Figure 6: Recruitment activity by typeof consulting
Top-Consultant.com
LIKELY HIRING BYTYPE OFCONSULTING 0 1 2 3 4
Strategy
Project / Programme Management
Business Process Improvement
Technology
IT / Software DevelopmentE-Business
Finance / Accounting
Marketing & Sales
HR Consulting
Outsourcing
CRM
Economics & Environmental
2010
2011
20122013
2014
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Looking now at who recruiters are aiming to recruitover the course of the coming year, it is clear oncemore that those most in demand will be candidatesthat bring prior consulting experience to the firm.
Those from government or public sector bodies remainthe least sought-after, with little change in appealamongst recruiters for those candidates coming fromindustry and the City.
This year fewer recruiters will look to make their hiresfrom those coming from business schools but there s acontinuation of the trend for firms to recruit morecandidates from University.
Figure 7: Desired hiring profile2010 2014
Top-Consultant.com
0
1
2
3
4
5
6
2010
2011
2012
2013
2014EXPERIENCEDHIRESINCREASINGLYATTRACTIVE
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Recruitment channel useTrend data based on ~12,000 candidate responses
Part Two
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Trends are based on data collected from almost12,000 management consultancy candidates overthe last 13 years. Candidates from all the majorconsulting firms have participated, together withconsultants currently working at niche consulting firmsand potential industry hires looking to move intoconsulting.
Most respondents this year were BusinessTransformation / Change Management consultants(26%), Strategy consultants (22%), IT/ Technologyconsultants (18%), Project / Programme managementConsultants (15%), Business Process Improvement(11%), HR consultants (6%), Outsourcing (2%).
The sectors that candidates had most experience ofworking in this year were Public Sector (26%), Energy /Utilities (26%), Retail / Consumer Goods (25%),Financial Services (Retail Financial Services focus)(24%), Telecoms, Media & Entertainment (24%),Financial Services (Investment Banking / CapitalMarkets focus) (22%), Healthcare & Pharma (18%),
Automotive / Aerospace (14%).
36% of respondents had spent more than 3 years withtheir current firm, 17% between 2 and 3 years, 15%between 1 and 2 years, 13% between 6 months and 1year and those that had joined their current firm withinthe last 6 months accounted for 19% of the responses.
Survey responses were generated via direct mailshots tothe Top-Consultant.com readership; an invitation sentto all screened consulting candidates on the Get-Headhunted CV database; promotions via Twitter,LinkedIn, Google News and Yahoo News, and byinvitations sent to candidates by recruitment agencies.
Are you aManagementConsultancy
Recruiter?
Once a month theTop-Consultant.com team
update recruiter contacts regarding all the newinitiatives we re planning,
free reports we ve publishedand any forthcoming
promotional offers theycould benefit from. If you
would like to be added toour recruiter contact list
please email BryanHickson.
Top-Consultant.com CANDIDATE POOL
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]8/11/2019 Top-consultant 2014 Recruitment Channel Report
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Let us now look back at candidate activity over thelast 12 months and specifically the channels used tolook for new career opportunities. Every year we askcandidates to record the channels they used and thenumber of applications that they made through each.
Collating the data allows us to analyse thepenetration performance of the channels (how manycandidates used each channel to make at least oneapplication) and the share of applications achieved fromeach of the six major recruitment channels:
Our candidate respondents confirmed that thereare huge variations in the saturation enjoyed by thedifferent application channels with three of the channelsbeing used by a far greater proportion of candidates thanthe others.
Recruitment agencies have been used by a greaternumber of candidates than any of the other channels,with Personal contacts and Internet job boards scoring
very nearly as highly. Social media generatedapplications from 45% of candidates this year, Corporatewebsites 39% with Newspapers falling to just 9%.
What s apparent from these channel penetrationfigures is that no single channel alone will reach allcandidates and that a multi-channel approach is essentialto saturate the market.
Figure 9: Application channels used last timeto apply for a job
Newspapers
Recruitmentagencies
Internet job sites
Social media
Personal Contacts /Referrals
Corporate Websites
Top-Consultant.com
01020304050607080
2011 2012 2013 2014
%
CANDIDATEACTIVITY OVERLAST YEAR
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Our respondents were also asked to record how manyapplications they made through the six major channels.This produces another measure of importance of eachrecruitment channel within a recruitment strategy the share of CVs produced per channel.
What is immediately apparent is that internet job boardsand recruitment agencies are critical in generatingcandidate applications together they account for 55%of applications made which is very similar to last year.
Corporate sites account for a steady 14.9% of allapplications made; Personal referrals are up slightly witha 14% share; applications made via Social Media areup slightly again this year at justover 12% and the share
of applications made as a result of adverts placed inNewspapers continues to slide this year down to3.3%, bringing up the rear.
10%
Figure 10: Share of applications generatedin last job search
Top-Consultant.com
0%
5%
10%
15%
20%
25%
30%
35%
CANDIDATEACTIVITY OVERLAST YEAR
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Candidates were asked to score the likely channels theywould use when next hunting for a new job, both to allowthem to change their bias to allow for dissatisfactionswith their most recent job hunt and also to factor in newdevelopments that they have seen affecting the marketsuch as Social Media.
As you can see from the chart, candidates clearlyintend to modify their jobhunt strategies onlymarginally during their next job search. Comparing thisyear s responses with those from past years shows verylittle change.
Given this, it seems likely that the share of applicationsthat employers will receive from each of the hiring
channels is likely to remain fairly constant for theforeseeable future.
2
2.5
3
3.
Figure 11: Channels most likely to use ifcurrently looking for new job
Top-Consultant.com
00.5
11.5
22.5
33.5
44.5
5
LOOKING FORWARD
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Historical trends in recruitment channel use andRecruiter & Media awards
Part Three
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In the main the historic newspaper advertisers(direct employers and recruitment agencies) havecontinued to switch spend to other channels.Newspapers have suffered most in the last 13 yearswith candidate penetration having fallen veryconsiderably indeed from a figure close to 50% to just 9%of candidates making an application via this channel.Share of applications continues to fall in a similar waywith just 3.3% of applications being made last year inthis way.
Figure 14: Share of applications -Newspapers
10%
20%
30%
Figure 12: Newspapers and publicationsconsultants read regularly
Figure 13: Penetration -Newspapers
0% 10% 20% 30%Top-Consultant.com
0%
10%
20%
30%
40%
50%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
0% 10% 20% 30% 40%
i
Independent
Telegraph
Evening Standard
Guardian
Metro
Other
FT
The Economist
Times
NEWSPAPERS
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Internet job sites continue to enjoy a high share ofcandidate usage with, once more, just under two thirdsof all candidates mak ing approaches to newemployers via this channel, just behind referrals andrecruitment consultancies. The shape of the evolutionof job sites penetration for the last six yearssuggests a plateauing, as does its share of applicationswhich is also stable with just over a third of allapplications coming from online advertising on jobboards.
It is worth noting here, and as will be seen later, asignificant proportion of candidates (23.6% - nochange from last year) that make applications directvia corporate websites do so having first seen the rolethat they apply to advertised on an internet job site.
Figure 15: Penetration -Internet job sites
Top-Consultant.com
Figure 16: Share of applications -Internet job sites
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Figure 17: Websites most regularlyreviewed for consulting opportunities
Top-Consultant.com
Figure 18: Websites preferred forfinding a consulting job
0 20 40 60 80
Twitter jobsearchMCA
ConsultantsboardTopITConsultant
ExecutivesonthewebFT
eFinancialCareersJobserveTotaljobs
JobsiteMonster
Exec-AppointmentsTop-Consultant
0 10 20 30
MCATwitter jobsearch
TopITConsultantExecutivesontheweb
ConsultantsboardTotaljobs
FTMonsterJobsite
eFinancialCareersExec-Appointments
JobserveTop-Consultant
INTERNET JOBSITES
Candidates were asked to reveal the jobboards thatthey regularly review and the jobboards that they
rate best for finding a consulting job. LinkedIn andTop-Consultant are easily the leaders in the sector.
LinkedIn's rise seems to have been at the expenseof the other major job board brands, all of whomonly attract a fraction of the interest and favourableresponse of the two mark et leaders.
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Bounty schemes have consistently achieved highmarket penetration, generating applications from 68% ofcandidates this year, a figure that has been stable for thelast few years and is now the greatest penetration figureof any channel. What s more, they have also been themost highly-preferred way for candidates to makerecruitment applications in management consultancy.
But while personnel referrals will never be able togenerate a massive share of applications the naturallimitations in the size of individuals personal networksprohibits this - we have seen companies using innovativemeans such as advertising job referral programmesthrough 3rd party media to eke the maximum share ofapplications possible through this channel. This year we
have recorded a further if slight rise in share ofapplications to 14%.
Figure 20: Penetration -Personal referrals
Figure 21: Share of applications -Personal referrals
Top-Consultant.com
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Unlike the other major recruitment channels that wehave been track ing in these annual reports, we haveonly been gathering data on consultancy candidates useof social media for making job applications for the pastfour years. This makes trend commentary more difficultbut a picture is emerging.
The data reflects a continued growth in share of to talapplications albeit to just 12.1% up from 10.4% last year.The percentage of candidates that make any applicationthrough the channel has this year increased to 44.6%,from 37.7% last year. It continues to be the case, for thetime being, that only a minority of consulting candidatesare using social media to apply for jobs.
While the vast majority of consultants have an activeprofile (defined as being accessed at least once a week)on a social media platform with LinkedIn being thefavourite by a clear margin the percentage of activeusers on LinkedIn, Facebook and Twitter has grownslightly this year.
Figure 22: Social media on whichconsultants are active users
Top-Consultant.com
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Figure 23: Penetration Social Media
Figure 24 Share of applications Social Media
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Given that there is nearly 90% take-up of the leadingprofessional social-media channel and that only 12% ofall applications are made via social media as a whole, weasked respondents what they use social media for.
Expanding professional networks remains, unsurprisingly,the most common driver of social medias use. Applyingfor advertised job positions remains unchanged in 5 th place this year.
Top-Consultant.com
0%10%20%30%40%50%60%70%80%90%
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Figure 25 : Main uses of social media by consulting candidates
SOCIAL MEDIA
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Over the last few years we have seen a fall in thenumber of candidates making applications directlyvia corporate websites. This year, while we see a slightrise to 39%, the trend over time suggests a continueddecline.
Whats more, corporate sites seem stuck in a rut of beingable to generate only 14-17% of application volumes.This year a figure of 14.9% of all applications madeto management consultancy employers through theirwebsites was recorded.
But how do candidates find themselves makingapplications direct via corporate websites? It should notbe assumed that all candidates navigate directly to
company websites to make their applications.
Each year we investigate the different sources ofvisitor / application traffic that corporate websites enjoyso as to be able to quantify as best possible theindirects that the other channels drive to the corporatesites.
Most candidates (53.3%) that made applications tocorporate websites already knew the firm and navigatedstraight to their website to make the application interestingly this figure has dropped from 60% in 2009when we first asked this question; 23.6% of candidatesmade direct applications to firms they had seenadvertising on internet job sites; nearly 19.9% wereprompted to make a direct application by a personalcontact (up slightly); just over 15% found their way to thecorporate site following a search engine listing; 12% werealerted to opportunities via Social Media adverts beforemaking their corporate website application (unchanged);and 4.3% following adverts seen in newspapers.
Figure 26: Penetration -Corporate sites
0%
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2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Figure 27: Share of applications -Corporate sites
Top-Consultant.com
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Recruitment agency candidate penetration continuesto hold up well and appears to be plateauing ataround 70% penetration. Share of total applications madehas, however fallen from 26.4% to 24.6% this year though this is, as we have seen, second only to InternetJob Sites when compared with all six recruitmentchannels.
Every year we ask candidates to feedback to uson the different recruitment firms that they ve used. Aranking of firms that received the most praise and theleast complaints is then produced.
The results were very close indeed so no outright winnerhas been identified this year. We congratulate all thosefirms listed.
Figure 28: Penetration - Recruitment agencies
Figure 30: 2014 top recruitment firms bypraise
Figure 29: Share of applications - Recruitmentagencies
Top-Consultant.com
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RECRUITMENTAGENCIES
BLT
Consulting Point
Michael Warwick Nicholls
PrismSelecture
SK Consultancy Solutions
Tassell Consulting
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Recruiters available
throughout 2014
All premium job listingsappearing on
Top-Consultant.com will beadded to the ManagementConsultancies Association
(MCA) jobs board at noadditional cost
Take advantageby registering for a
trial advertising package
Alongside the rankings of recruitment firms, weasked candidates to help us identify the best individualrecruiters they had worked with. We asked them:
If you have been particularly impressed with anindividual recruitment consultant you have worked within the past, please provide their name & company sothat we can give them special recognition .
Twelve individuals stood out as receiving the most praiseand we warmly congratulate them all for their success.They are listed in no particular order.
Figure 31:Best individual recruitmentconsultants 2014
Top-Consultant.com
RECRUITMENTAGENCIES
Chris Sale - Prism
Craig Milbourne - Comms PointDarren Head - SelectureDon Leslie - BLTGenene Cooper - Michael Warwick NichollsJames Cox - Consulting PointJonathan Tassell - Tassell Consulting
Mark Pierce - Michael Warwick NichollsRakesh Pabbi - Consulting PointRuth Radnan-Skibin - SK Consultancy SolutionsSally Wilson - Penna
Sasha Kemp - SK Consultancy Solutions
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Find out how your firm could attract consulting hiresby:
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accessing our CV databases
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CALL TO SPEAK WITH ONE OF OUR TEAM For more information on Top-Consultant.com s services or if you have any
questions about the data in this report please contact Bryan Hickson on 0207667 6880 or email him on [email protected].
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