The advertising industry in the UK is seeing strong signs of renewed confidence, according to the new European Market Eye report from the industry’s specialist recruitment consultancy Aquent.
The survey of advertising agencies found that half of organisations are predicting a rise in permanent staff over the next six months. The number of organisations increasing salaries looks set to double throughout the remainder of 2010, with 20% expecting pay rises over the next six months compared to just one in ten over the last half a year.
The rest of the marketing and design sector is also growing, with over 60% of companies expecting an increase in permanent staff. The digital sector seems to be leading the way in this recovery, with 45% of digital agencies predicting a rise in salaries and a massive 80% predicting a further increase in headcount.
Elsewhere in Europe, France is also experiencing a strong recovery with 36% of advertising agencies expecting to increase salaries, compared to just 18% reporting a rise over the last six months. Over half of French agencies are also expecting to hire permanent staff and almost two thirds are predicting a rise in freelance / contract staff. In the Netherlands, there appears to be more caution – although the number of advertising agencies awarding pay rises looks set to double to 20%, the amount of firms taking on more employees is expected to remain the same. Despite this, the number of agencies shedding staff is predicted to halve which is a very positive sign.
“The UK marketing and design sector was hit hard by the global downturn and after 18 months of little hiring across the industry, we’re certainly now seeing signs of recovery and the market hotting up” comments Peter Geary, Aquent’s UK Regional Director. “It seems as though companies are now beginning to invest in advertising again, and the jobs market is reflecting that. It is very reassuring to see these measurable signs of confidence returning and companies beginning to plan for the future again.”