The sun is still shining...
8th February 2016
I’m asked almost daily and if not hourly by our clients and candidates about how the market is performing so far this year. I thought it best to write a few words to give an outlook from MCG Group’s perspective.
Like everyone else I pick up the papers and read the somewhat gloomy outlook being predicted by most. The oil price seems to be hovering around the $30 mark so for all GCC governments, less income, less spending and further tightening required.
As a group, we never actually recruited in the energy sectors, so we were fortunate to avoid the rapid decline in staffing requirements this sector felt. I wouldn’t say we are totally immune to what is going on, the trickle down effect is being marginally felt by some sectors the MCG Group recruits in such as retail and FMCG. For most though – it seems to be business as usual.
I’ll break this down further by looking at our two specialist agencies:
Kemistry has started the year well with a high volume of finance, accounting and business support positions. HR demand in the GCC has been slow and we have noticed a decline in new mandates in this sector. Kemistry recently launched a legal unit and demand, especially within in-house law, has been high, meaning we are busier than ever. The business is expecting February to be our best since starting the agency seven months ago. We’re excited by our regional growth and now have live positions in Qatar, Kuwait, KSA and Bahrain.
MCG Associates continues to grow and all our business units are seeing a steady number of mandates coming through the door. With the agency now six years old and very well established, we’re fortunate to have long established relationships and be the preferred suppliers for most leading advertising, digital, PR, brand and activation agencies.
Our creative team have built a new department for one leading advertising agency and our digital, IT and tech team, which is a seven person unit continues to pick up new clients almost daily. We plan to invest further in this team as clients continue to buy into our credibility and market knowledge; for us this is certainly an exciting growth market.
Our PR team is very well established, so the volume of roles is high and the team is delivering consistency as it always has. The client side team is certainly growing with our new hire Varun Sharma already started. We’re working on some very senior communications positions in sectors such as travel, hospitality, manufacturing and technology.
Whilst the volume of mandates coming in is high, an observation across the group is that the decision making progress is slower with clients. All positions are taking much longer than usual to close, so if you’re looking for a new role, patience is certainly required.
As a group, we’re still progressing with expansion plans. Our International offices are moving closer to completion, we have three new brands to be launched as well as new recruitment products on offer to clients. To help support this growth we hired a new business and innovation manager, with further hires soon to be announced across our business units.
So in conclusion, so far so good for us at MCG Group. I wish everyone else an equally positive and exciting 2016.