Monthly Archives: February 2013

Speak like a recruiter 104: “People Buy People”

people buy people (spoken)
the concept that when someone is in charge of hiring, whatever the qualifications of the candidates, one of the main factors in making a decision is going to be personality. People hire people they know they can work with.
Gavin: My client has asked if she should start the interview process with a telephone round or onsite interview – what do you think? Sandy: Onsite, afterall “People Buy People”
Etymology: hiring = buying
See also: a good lad, personality counts

Hedge Fund Exodus?

Movement of rich people

Exodus - movement of the people

News this week is that everybody’s favourite economy stimulator, the EU, is now looking at legislation that will curb bonuses in the hedge fund and private equity business.

Here’s the link, but basically the Stasi ESMA (European Securities and Markets Authority) have realised that banker bashing only targets one section of the financial markets and that there are other “senior executives” in London whose pay they want to “bring in-line” with the remuneration policies of the investment banks.

This is another totally unhelpful attack on the UK economy from EU, and if they go ahead I can see many funds simply upping sticks and relocating to the Caribbean or the Far East. Many funds are already domiciled, or at least partly based in offshore locations, and a vicious grab on their pay is simply likely to push them further abroad faster. The Government apparatchiks just don’t seem to understand that today each country is like a camping-site: they provide a patch of suitable ground and some basic amenities but ultimately you can pitch your tent anywhere. In the UK we are lucky to have one of three of the world’s leading global cities and we need to realise that this is precious thing and not some entitlement that can be abused according to the latest Brussel’s fad.

Now the FSA is trying to work out how these rules could be applied to the UK, so watch this space.

Whatever you do in 2013, don’t…

Don’t quit your job before getting a new one.

Sayonara

This is a subject I speak to so many developers about. We start to discuss their next career move and they reveal that they are planning on quitting their job soon so that they will become immediately available for a contract. The logic being that only technologists who are immediately available are eligible for contract positions…

Notice periods

There are two problems with this course of action. In my experience it is a complete fallacy that you can only get a contract position if you don’t have a notice period. If you are the right candidate for the position nine times out of ten the client will wait 4 weeks for you to start. Now at this point I would point out that my experience of recruitment is purely limited to the financial markets, so I am not speaking for any other market; but despite clients almost always stating that they would prefer to hire a candidate who can start straight away, in practice they are always happy to wait for the right candidate.

A deep recession

Despite the appearance of “green shoots” in the banking sector, we are still very much in a deep recession at the moment. Everyone who reads the papers or has any contact with life outside of the Square Mile can see that. They’re even talking about the country going into a triple dip recession (not a new icecream flavour) – so the idea of quitting your job without already having lined up something to go to is madness. The contract market is still depressed, and there are still lots of contractors out there looking for their next contract, so competition for each position is fierce.

“Ready to go contracting”

After about 5 years development experience many developers start to consider the prospect of going contracting. In general contracting is a good career option for someone who is a strong technologist but not interested in team leadership or corporate titles. The problem is that the contract market is not buoyant at the moment, with many of the investment banks trying to replace contractor numbers with permies. So there are lots of developers out there who feel that they are “ready to go contracting” but have not been able to.

My advice to these people is to be patient. Quitting your stable, permie job in the hope that it will make it easier for you to find a contract will not make it happen faster. Doing so runs the risk that you will end up waiting for months without finding that dream contract job, or even end up taking another permie job! You might be ready, but if the market is not, nothing you do will change that. If you are determined to go contracting, I think you are better off either staying where you are and applying for contract positions as and when you come up (despite your notice period) or taking a new permie position that will improve your prospects to enter the contract market when it does pick up. But one thing is for sure, being unemployed in a recession is no fun.

Whatever happened to Leila Devito?

For all those who’ve asked themselves over the last year, “where is Leila Devito these days?”, here is the answer:

(watch out for her name check at 4.07)