Movemeon’s Market Trends Insights Series

Movemeon’s Market Trends Insights Series

As 2021 draws to a close, we thought it would be a great occasion to reflect on the changes we’ve seen in the market during this past year. Movemeon sits at a privileged crossroad, talking to employers and candidates from various industries and backgrounds so we hold enough data to see the various changes occurring in the job market.

In 2020, we saw that many people reconsidered their careers (whether on purpose or not) and employers had to rethink the way they foster culture within their own company. When it comes to consultants (either currently employed or alumni), we found that 23% of employed consultants were looking to become independent freelancers, whilst 20% of alumni currently in industry were actually looking to go back to consulting. 

These trends will be our focus this quarter, bringing you insightful data to increase your understanding of the job market as a consultant or alumni, while making sure you give yourself the chance to find your perfect next opportunity.

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We released our Work and Pay report, Understanding the Impact of COVID, earlier this year and we were able to measure the impact of the pandemic on the job market. We’ve summarised below some of the key findings on the impact of COVID-19 on employees and recruitment.

Professionals looking for a new position

Across industries and seniority levels, about 1/4 of professionals have been or are likely to look for a new position specifically due to COVID-19.

Working hours pre vs post-pandemic

Across all industries and seniorities, working hours were 4% higher in 2020 than in 2019, indicating that – for the people who retained their jobs – the pandemic made work more intense. This trend holds true for all company types but is particularly pronounced for Startups and PE/VC.

The impact of COVID on mental and physical health

COVID-19 has had a negative impact on professionals’ health – this is particularly distinct when it comes to mental health, where 47% of professionals have reported a negative effect. This number is likely to have gone up further because of new lockdowns in most (European) countries.

Pay rises in 2020

Around a fifth of all Corporates, Consultancies and Startups have taken government support during the pandemic. At the same time, they gave pay rises to about half of their employees (down from ~2/3 of their employees in 2019). Meanwhile, far fewer PE/VCs have relied on government support and 3/4 of their employees have received a pay rise.

The impact of COVID on Freelance projects

While most freelancers did not see a change in project length due to COVID-19, there is a significant share who experienced shorter projects. On the other hand, over 1/3 of professionals have experienced a change in project type. The projects that have become more common in 2020 are Transformation, Cost Cutting, and Project Management.

To read more, request your free copy of Movemeon’s Work & Pay Report here.

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Movemeon
Movemeon
Movemeon.com - The world’s leading community of consultants, alumni and commercial professionals. Founded by two ex-McKinsey Consultants, Nick Patterson & Rich Rosser.
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