RSS feedsWhat a difference a winter makes. In December 2008, the Special Libraries Association (SLA) salary survey revealed that average earnings for UK respondents were 4.25% higher than the year before while information professionals in continental Europe were pulling in a salary 7% higher on average than the previous year.
But now, with cash-strapped institutions and organisations looking hard at how to cut the size and cost of their workforce, any rise in income is just a distant dream. Many staff feel they may have their work cut out just to keep hold of their job, let alone land a raise.
The economic crisis is hitting all industry sectors all around the world. The result is employment havoc. SLA chief executive Janice Lachance says: “The crisis is a global one and everyone across the spectrum is going through a rough phase.”
But the information industry is, perhaps surprisingly, cautiously optimistic. Individuals, institutions and recruitment consultants are quickly adapting to changing market dynamics by making themselves more “resourceful”. The information industry is already executing a range of survival strategies and is confident that the second quarter of this year could bring positive tidings.
A spokesman for recruitment consultancy Resources Group says: “There is a cautious optimism. Let’s wait until the second quarter. The worst is over in January/February. The scene is likely to change soon and we could see a good stream of information jobs.
“Because of uncertainty and speculation in the economy, the recruitment market is on hold for the moment. Things will start picking up in the next half of 2009 when the industry becomes less speculative and more stable.”
According to Resources Group, the industry has already experienced its toughest time – around September-October of last year.
A slew of statistics from the European Commission suggests the level of unemployment in the major European economies is at record highs with more than 18 million unemployed people – and is predicted to get worse. Unemployment in Germany has hit 7.2%, in France it’s 7.9%, and the EU average is at 8% – the highest for two years.
In the UK, the scenario is even more bleak. According to the official statistics, the two million people currently out of work could swell alarmingly to 3.2 million by the second half of 2010. And the Bank of England has predicted that over the entire recession the UK economy could shrink by 4% or even more; other experts put the figure at 3.7% although even that is 1.2 percentage points more than during the last recession (1992-93).
Paul Cushing, managing director of recruitment consultancy RPCushing, says: “Everyone in the recruitment expected a wave, but not such a large wave, of credit crunch that has quickly turned into a recession.”
The number games affect information professionals in publishing, broadcasting, telecoms, data processing, hosting and other information services. Even information security and IT audit jobs, considered to be among the most recession-proof of professions, are being hit.
Industry observer David Solomon, an associate professor in the department of medicine at Michigan State University, says the current crisis has hit the information industry as hard as any industry: “Web developers, content analysts and system analysts have all been laid off in recent times.”
But the industry response is one of hope and resilience. Insisting that the sector has to bounce back quickly, industry insiders, including professionals, recruitment companies and associations, are all taking steps to make it happen.
THE RECRUITERS RESPOND
The recruitment companies, for instance, are stressing the importance of adaptability and quick recovery. Sue Hill Recruitment has introduced credit crunch lunchtime sessions to help information professionals under threat. The company wants its whole recruitment team to share their knowledge not just with candidates already registered with it, but with other candidates in the wider information field.
Nicola Franklin, head of information recruitment at Sue Hill, says: “Although these skills are always important, in difficult times it is vital to be fully equipped and totally confident with all aspects of the job search process.”
A 45-minute Tuesday/Wednesday session aims to help professionals identify their strengths, learn new skills and explore new ventures. “Such special workshops and seminars are crucial in keeping the industry professionals motivated and diversified,” says Franklin.
Certainly, demand for people, products and services has fallen, but junior roles as well as commercial roles are still looking better, say the recruitment specialists. Likewise, while prospects within the technology, finance and consumer sectors have gone down to a substantial degree, the healthcare and public sectors look more hopeful.
David Thew, co-managing director of recruitment consultancy Intelligent Resources Group, says: “The publishing industry has not stopped recruiting completely, but it is expressing caution over headcount.”
According to Thew, it is the pace of decision-making that has slowed because employers are adopting a risk-aversion approach to candidates. Intelligent Resources wants to develop “stronger relations with candidates on a one-to-one basis and offer them useful advice” and aims to “add value on individual levels”.
Likewise, Cushing is trying to engage with clients and candidates to ease the caution. “As information budgets are now being set for the coming year, companies with foresight are opting for information professionals for strategic roles. Information and research are sophisticated sectors and the founding pillars of a good business. Clients are now keen to hire information professionals for a good start following the recession.”
Government agencies too are playing their part in urging an upbeat response to recession. The Engineering and Physical Sciences Research Council (EPSRC) held its Pioneers 09 Science Showcase in March, an event that offers business and researchers networking opportunities and face-to-face information on EPSRC funding. This year the event included expert talks, debates on topics such as internet privacy, and recession-busting workshops. Stressing the vital role played by scientific research in Britain’s digital economy, speakers at the event called on UK businesses to exploit the country’s strength in scientific research and innovation to create jobs and wealth.
Julia Hordle, director of corporate intelligence at Intelligent Resources, said: “The biggest challenge for us is not finding the quality of talent, but the attrition of waves of redundancy. In difficult markets, clients expect the best candidates; they expect recruitment companies to be discerning and to understand how they judge “best value” for new hires.” And the challenges for information professionals, she continued, are “identifying their most marketable attribute, making value judgements – trading off seniority/pay against time spent without a reliable income and keeping motivated.”
As businesses look for ways to cut their HR costs, industry insiders are witnessing a greater readiness to appoint professionals on an interim basis or in contract and project-based roles. “This is exactly what happened in the previous economic crisis of 2000-01,” points out Thew.
SURVIVAL STRATEGY
Franklin agrees that the overall permanent role has declined, affecting information professionals in sectors such as banking, finance and management consultancy the most. She adds: “These professionals must share their knowledge, get more skills and push boundaries to ensure fewer redundancies.”
Lachance believes the key to recovery is “to build in trust because at this point, companies are not willing to take any risk”. She points to corporates’ need for valid, actionable information as proof that businesses will continue to invest in people who can provide this kind of information.
She adds: “The current crisis has forced all organisations and institutions to rethink their approach and make difficult decisions on staff. But this creates enormous opportunities for information professionals around the globe to be proactive and part of the organisation’s mission and strategy, and to make themselves more resourceful and useful.”
Lachance advises information professionals looking for work to “change the way they talk about their function and value”. Critical thinking, strategic analysis and provision of valuable, unbiased information are key to success because companies are looking for precise, valid and accurate information.
The truth of this seems to be demonstrated by the 19% profit recently reported by information giant Thomson Reuters because of a “proven business model of providing must-have content and services to professionals”.
Like everybody else, information professionals now have to market their own value proposition. Lachance advises candidates to broaden their skills and become experts in competitive intelligence, knowledge management and content management to widen the area of expertise. “We are offering certificates on each of these,” she says.
She also quotes from a report that shows information professionals have a rare credibility: “The most authoritative voices on business are now academics, trusted by 61% of the Americans polled, compared with just 16% who would take the word of a company’s CEO.”
Hordle said: “In particular, we are seeing a ‘trading up’ for mission critical roles. Businesses are trying to hire people with strong information management skills, but also able to analyse, write and create development opportunities for their firm and their colleagues.”
SECTOR RECOVERY
The STM (scientific, technical & medical) industry is likely to recover faster than any other segment, according to the SLA. This is partly because of the emphasis on scientific research, stem cell research and scientific information. Government support also acts as a catalyst in pushing demand for STM publications, helping the sector bounce back the fastest.
Lachance insists that when the information industry does bounce back, all players will seek to build their business on accurate and analytical information and that information professionals could gain tremendously from this trend.
“During bad economic times, it is especially important that professionals continue to master new skills and technologies to stay competitive,” says Lachance. “The SLA aim of increasing the value of SLA membership during this period of global economic turmoil could have an immediate and positive impact on our members.”
Experts add that certificate programmes in knowledge management, competitive intelligence and copyright management will help professionals to prove their value. n
Archana Venkatraman is a reporter for IWR
All Business & Market Tags: Librarian-jobs, Librarian-recruitment, Recession-in-libraries, Surviving-recession, Redundancies
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