A Law graduate from Birmingham University, Habiba Khatoon transitioned into recruitment, amassing over 15 years in Midlands’ professional services. Joining Robert Walters in 2014, she strengthened the Birmingham finance team and led the Midlands’ finance recruitment. Now regional head at Robert Walters, she oversees a team of over 40 specialists, servicing diverse clients from FTSE 100 to SMEs across Finance, Legal, Technology, HR, Supply Chain & Procurement.
In an interview with Asian Voice, she spoke about current job market trends, strategies recommending the job seekers and much more.
Can you describe the current job market trends, especially in light of recent economic shifts?
Although not technically in recession, the effects are still being felt, with the cost-of-living remaining high, not to mention geopolitical tensions and upcoming elections. Although hiring budgets are remaining tight, modest economic growth is generating cautious optimism in the current market.
In keeping with those tight budgets, hiring has taken a hit and when employers are hiring they are extremely careful and fastidious when it comes to deciding who to onboard – on the flip side, candidates are sharing this sentiment with many wary to move due to fears over job stability, adding further to reports of professionals mood being reflective in “The Big Stay”.
There are hopeful signs amidst challenges: inflation is down, real earnings are ticking up, and consumer confidence is on the rise. These are cautious indicators of economic recovery, with the market gradually regaining momentum. As confidence strengthens and these early signs of growth expand, we anticipate a more pronounced positive impact on the labour market heading into the second half of the year.
How have you observed the demand for specific roles changing over the past year, and which sectors seem to be rebounding the fastest?
In this dynamic period, influenced by geopolitical tensions, an upcoming general election, and rapid technological advancements, it's challenging to pinpoint the fastest rebounding sector. However, we've observed stability and even growth across all sectors we recruit for.
Those areas which contribute to BAU functions are showing the most resilience – for example, whilst Technology took one of the biggest hits to hiring over the past several years, certain areas are bucking-the-trend, namely Cybersecurity due to the fact adequate cybersecurity defences are now integral to the functioning of most organisations. Similarly, the demand for Data Privacy Lawyers remains steady. With ongoing advancements in technology like GenAI and the increasing centrality of social media in business communications and processes, there is a constant need for experts well-versed in data privacy legislation.
Within Supply Chain & Procurement there has been significant demand for renewable energy skill sets as companies seek to make their procedures more green aligning with net-zero goals – this will continue to be a huge area of growth.
With ongoing economic uncertainties, what strategies do you recommend for job seekers looking to navigate the current job market?
Currently in the market there is a focus on skills-based hiring – with many skills shortages still operating, having the right mixture of technical and soft skills is crucial for professionals to stand out. So capitalising on any upskilling opportunities, taking on new projects, making sideways moves into new roles or industries – are all ways in which they build upon their current skills.
Don’t be too cautious, sometimes being too scared to take the plunge into a new role or company can hold you back from actually pushing yourself forward. So my advice is to make calculated decisions, take time to really consider whether opportunities are the right fit for your abilities and avoid shying away from new and diverse experiences to build up your CV.
Keep an ear-to-the-ground within your industry – stay abreast of current news and events within your sector, that way you’ll always be aware of any emerging trends, in-demand skills and opportunities which you can capitalise on. In times of economic uncertainty and external challenges, staying informed and up-to-date is crucial for navigating the market effectively.
There's been increased scrutiny on CEO pay gaps. From your perspective, how are companies addressing this issue, and what impact do you foresee on corporate governance?
Recent figures have shown that the gap between pay of blue-chip chief executives in the UK and US has been widening. While pay in the UK has gone up just 0.5% over the past year, meanwhile it increased at its fastest rate in 14 years in the US. This will directly result in companies having more trouble securing top Chief Exec talent and casts doubts over the Capital’s ability to attract and retain.
UK firms attempting to directly match the heftier US salaries will quickly run into trouble with shareholder and board reactions to such substantial increases. It’s hard to overlook something as important as salary, however companies are beginning to look at the issue holistically, considering the range of ways they can fill the gap of a higher salary.
Some include: offering competitive benefits that increase a CEO’s earnings – bonuses, stock and equity options. A greater work/life balance for CEOs – the UK has a very different working-culture than across-the-pond and UK companies can offer their CEOs considerable flexibility to help ensure they have a work-life balance. Highlighting the other benefits to working in the UK – such as tax advantages which offset a lower salary.
