Firstly, Happy New Year. KR Recruitment wishes you a healthy and prosperous 2013!
Many of us will be happy to see the end of a challenging 2012, and look forward more positively to the new year and new beginnings that 2013 will bring. It is fair to say that the outlook is much more positive as we begin 2013. KR Recruitment experienced a particularly strong final quarter to 2012, which continues in to the beginning of 2013.
Whilst we are far from the levels experienced pre-crisis, there does seem to be a gradual increase in recruitment activity and recovery within the market place in Luxembourg.
KR Recruitment - Key Trends of Quarter 4 (Q4) 2012
• KR Recruitment has seen a rise in the number of Senior roles (€80 - €140K) coming on to the market and being placed in the final Quarter of 2012
• KR Recruitment has seen a good spread of placements across Financial Services / Banking / Private Banking / Trust / Commerce & Industry – all sectors seem to improving. There is also a good mix of roles across Tax / Treasury / Accounting / Legal / Operations
• KR Recruitment is still seeing a number of new groups entering Luxembourg and building substantial corporate offices – again a fantastic sign that Luxembourg can attract new corporates. We have seen this across the Banking / Services / Commercial groups. 25% of the roles coming through in the in the Commerce & Industry sector are within new operations setting up in Luxembourg
KR Recruitment - Key Financials Quarter 4 (Q4) 2012
• December was a solid month in performance without being spectacular. This can often be the case though, as it is a shortened month with most people leaving for the Christmas break on 21st December (3 week month)
• Q4 2012 was the biggest quarter of the year, approximately 30% higher than any other quarter in 2012 – an exciting uplift!
• Q4 2012 was by far the biggest revenue quarter we have seen at KR Recruitment in the last 2 years - 10% higher than any previous quarter.
• Q4 2012 provided us with the highest number of placements in 2012 (and historically going back 2 years). This was even more pleasing as a good volume of these roles where in the higher salary bracket range - +€80,000 and above
KR Recruitment – Outlook for the start of 2013
• We need to be mindful that a good performance in one quarter (Q4 2012) does not necessarily represent a positive upturn in the market overall. However, the signs do look encouraging for continued market improvement (see below).
• January has continued the strong performance of Q4 2012
• In the first week back this year we have already had multiple placements; achieving the budget set for the month within the 1st week!
• We have a further 4 or 5 offers (for senior candidates) still pending. With 3 weeks of the month remaining it looks likely that January will be KR Recruitment’s highest month ever on record, which would be a great sign for the year ahead!
• New roles continue to come in across all major Sectors – Banking / Trust / Financial Services / Commerce & Industry
• Whilst we have only just begun 2013, based on the performance of Q4 2012 and the strong performance already seen in January, there is room for cautious optimism.
