Three months on, InterExec Managing Director Kit Scott-Brown assesses the current impact of Brexit on the senior executive marketplace.
“In the July issue of Placed!, I shared our view that prior to the EU referendum, large numbers of assignments were progressing, whilst very few appointments were being made. And on that basis I anticipated that there would be a rush in the short term to complete many of the assignments which had been held up.
“This prediction has indeed proved to be right - with InterExec appointments in July being over 50% up from a year earlier.
“This has however been followed by a 48% reduction in unadvertised vacancies over July and August, spread over all industries and disciplines, except for manufacturing, which not surprisingly, is up by 54% and MD vacancies, which are 19% up.
“The feel that we are now getting at InterExec is that activity in terms of permanent vacancies is going to remain weak throughout the rest of the year, whilst demand for interim, non-executive and consultancy roles is already significantly increased.
“Hopefully by the end of the year there will be more certainty as to the implications of Brexit and the first quarter of 2017 will, as usual, represent a significant recovery in full time roles.”
Meanwhile, InterExec’s Non-UK unadvertised vacancies have continued to increase for 2016 to date.