Interconnect industry is hiring again
23 August 2010
While many companies have seen growth over the past couple of years, and some have maintained pre-crunch spending in R&D, most have allowed themselves to err on the side of caution when it comes to investing, or even maintaining its workforce.
I have been speaking to Mike Thomas from recruitment specialists Greenline, who says that the confidence to recruit has returned.
After two years of redundancies and freezes on hiring, the job market is picking up again in the interconnect industry, according to global recruitment firm Greenline Group (www.greenlinegroup.net).
In its Global Interconnect Recruitment Survey 2010, the firm says recruitment activity started to pick up in November and December last year and this has continued through the first six months of 2010.
Close to 71% of 230 companies polled in the Global Interconnect Recruitment Survey are planning to increase hiring in the second half of 2010.
Mike Thomas, of the Greenline Group, says that after companies in the interconnect industry thinned down staff in 2008 and 2009, they are now looking to recruit to stay operational and competitive in 2010. Some good news for those looking for jobs in the interconnect industry.
"Some of our clients have decided they hit critical mass late last year, and they're now being held back through a lack of key staff in certain areas, particularly where they're trying to drive revenue, the hiring is coming from both small and large companies. Also we are seeing a lot of ‘quit hiring’ taking place, in some cases it’s replacing people that are in current roles," Thomas said.
It appears that hiring activity has increased in Europe, North America and Asia. "Businesses seem to be gradually loosening their grip on the hiring process as the economy improves, they are moving from a survival mentality to a growth mode," explained Thomas.
Most of Greenline Group’s recent recruitment search assignments in the interconnect industry have been in the area of sales and marketing, but engineering and manufacturing positions are now showing signs of life. “We have had recent search assignments in Germany, Hungary, France, United Kingdom, United States, China and Singapore. These have included electronic manufacturing services companies, printed circuit board manufactures, component manufacturers and their supplier base of capital equipment and consumable suppliers,” Thomas added.
Candidates are also on the move again. Many employees who sat tight last year afraid to make a move during the recession are now starting to look elsewhere. A recent report by the consulting firm Hays Group stated that 59% of employees in Britain are looking for new jobs, as the country comes out of recession.
Greenline Group recommends that employers looking to retain and attract staff make sure their salaries are keeping pace with market rates, that they have training and career progression programs in place. Thomas commented: “During the recession many companies cut wages and staff to survive; now it may be time to revisit the issue to make sure proper plans are in place to retain and attract top talent. A loss of top talent can deliver a severe hit to a company’s bottom line. Recently we have completed a number of compensation evaluations for PCB and EMS clients.
"We expect employers to remain cautious about the economy's recovery, especially with all the talk of a double dip recession, however, the positive trends demonstrate that the job market continues to improve in the interconnect industry," Thomas said. Thomas doesn't expect a significant reduction in the jobless rates until mid 2011, for Europe and North America as a whole.
Greenline Group is a specialist recruitment company for the interconnection industry.
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