Maritime recruitment podcast from Coracle and @HalcyonRecruit for Feb 2012By james tweed • Feb 6th, 2012 • Category: Recruitment
Welcome to maritime recruitment podcast from Coracle Online and Halcyon Recruitment’s. This is our first podcast for 2012 and for any new listeners, the objective of our podcasts is to keep you up to date with the latest maritime recruitment trends and developments.
Firstly, let us quickly review 2011. The year started well with respect to recruitment. Activity was at a steady level given overall conditions within the industry. Summer saw the usual decrease in positions coming to market but the noticeable change came after the summer had ended, the number of jobs being recruited for remained low which was combined with an increasing time taken to fill positions for many employers.
Overall, 2012 is the year when many key industry figures and analysts are forecasting substantial changes in the maritime industry with respect to bankruptcies, mergers and acquisitions. However, it was also widely anticipated that this would happen in 2011, yet companies that were expected to fold have managed to limp along. From the perspective of a specialist recruiter within this field, the year ahead is going to be a challenge for employers and job seekers alike. Historically shipping has been somewhat subject to its own cycles, but where the global economy has impacted so dramatically on our markets, this combined with an ongoing over-supply of tonnage and increasing operating costs puts an immense amount of pressure on resources and head count.
However, all is not doom and gloom. We are talking to a number of maritime employers where expansion of existing business and development into new areas is on the cards. Those who have money to invest are waiting for new opportunities to materialise although with so much uncertainty with shipping giants like Frontline and Torm, perhaps the future picture needs to be clearer before more commitments are made.
Activity in January has certainly picked up although we believe this year is going to be similar overall to 2011 levels. Salary levels will remain static and bonuses will be under increased scrutiny. In Singapore, reports indicate there was a 5% decrease in annual remuneration across all industries last year and whilst activity levels in this region tend to be greater than in other areas, there is pressure on salary levels for new employees , although we are not aware of any decreases having had to be accepted by existing members of staff.
As reported in our Maritime Employee Survey 2011, many job seekers are more focused on personal development opportunities at the moment, realising that current markets tend not to support major salary increases and that promotion prospects are limited with so many people choosing to stay in their current job until things improve. Unfortunately many companies have cut training and development budgets , thereby limiting scope in this area, although we also know some who are actively trying to introduce new initiatives and improve internal communication.
If you are looking to change jobs, remember that it is essential you produce a strong CV that demonstrates your experience and highlights your achievements so that any prospective employer can readily identify the value you could bring to their business. If you would like any advice on how to build an exceptional CV, have a look at the Halcyon website or call them for advice.
Do you have any topics that you would like us to cover in future episodes? Please let us know! Thanks for listening