A slight increase in economic confidence resulted in a year-on-year increase in hiring activity levels across South Africa. However, the overall landscape proved varied with some organisations hiring while others implemented hiring freezes or focused on making replacement hires only.
We saw continued demand for professionals with corporate finance and tax management expertise within the commercial sector. Throughout the year, we witnessed particular demand for professionals from core finance functions as businesses looked to attract experienced and talented individuals with chartered backgrounds. Most of the roles that came to market this year sought professionals with industry and post-audit experience. Notable delays in recruitment processes resulted in a competitive environment and firms missing out on their preferred candidates in many cases.
Companies offered salary rises to retain their top employees, particularly for BEE candidates due to an increased government drive to grow the number of employment equity professionals. In some cases, roles were created exclusively for these candidates. However, sought-after skills and experiences were difficult to source, which led to intense competition for the best talent and further increases in salary levels. As always, international experience was highly valued by recruiting firms and candidates returning to South Africa from overseas were at an advantage.
We expect recruitment levels to remain stable in 2012. Salary increases are expected to be in line with previous years, although professionals with industry experience will continue to receive a premium. Clients with efficient recruitment processes will be best placed to secure their first choice candidates.