Young blood changing the face of industry

A wave of new appointments at the top of the UKís largest 1500 recruitment agencies companies is set to prompt a radical change in their behaviour and put even greater pressure on those with ageing boardrooms.

Thatís the view of Plimsoll Publishing, the leading industry analysts who have a track record of predicting business trends in the UK, France and Japan.

There have been 1389 new appointments at director level in the last 18 months in an industry with 3202 directors in total. According to Plimsoll, new blood represents a transformation of the industry, with new ideas, renewed focus and different ways of working.

Senior analyst David Pattison says: ìThere has never been a more important time to take note not just of the companies you are doing business with, but of the decision makers behind those companies. We all know that companies donít do business with companies ñ people do business with people. But the people are changing, and firms will be caught out and lose business as a result, simply because they took a customer, competitor or supplier for granted on the basis of an older management style.î

Plimsollís detailed analysis has investigated each companyís financial performance and offers firm views on the challenges the new directors face, as well as the strategies they are deploying to stamp their mark on the industry.

It finds that for 331 of them the challenge is to keep the company afloat, while for 1058 others it is to deliver industry-leading performance. In both cases, a change in the way of doing things looks inevitable.

Said David Pattison: ìThe reasons for the new appointments are varied. Some have been taken on with the direct objective of finding a buyer for the company, while others look as if they have been appointed to see through a management buyout. Whatever the reason, this wave of new blood is simply the start. More than 10% of directors are over the age of 60, and we will see yet more evolution in the not too distant future.î

Directorsí salaries vary widely between different industries. The average is 90999, but in the property developers industry, for example, a director can pick up nearly 300,000. Job security varies widely, too, however.

In summary:

Average directorís salary in the recruitment agencies industry was 86765 last year

UK directorís average salary is 68,500

Directorsí fees increased on average 5%

Top earners can see their pay rise to more than 173000

They typical time in office in the recruitment agencies industry is now over 2 years, compared to the UK average of just over seven years.

This brand new independent analysis of the UKís 3202 most influential decision makers and the 1500 companies they are responsible for is available now. Readers of this magazine can obtain the full report for 300 ñ a discount of 50 ñ by quoting the code PR02 when ordering online at www.plimsoll.co.uk, by calling 01642 626400 or by emailing c.sherwood@plimsoll.co.uk.