With an exciting flurry of recruiting activity the first few weeks of 2016, it’s important to review job market trends in order to deliver expert advice to our Candidate and Company clients. Here’s a quick overview of what Mazur Group noted in our Beauty industry recruiting over the last 12 months. The following information will help you stay competitive as you consider taking that next step in your career or hunt for top talent.
THE BEAUTY BIZ JOB LANDSCAPE
Many of our clients are start-up to mid-size Beauty companies (to $200 million), who need to make very strategic hires. For 2015, 65% of our mid-level and executive placements were categorized as “new headcount” with more placements in General Management, Marketing Leadership, and Product Development. With so much movement, the searches were quite competitive, and this trend will likely continue into 2016.
Although we did some search for Social Media and E-Commerce in 2015, there seemed to be a pattern of “wait and see” on all the 2014 hires and investments made in this space. For 2016, we’ve already had several inquiries for these searches, so the waiting seems to have lifted. This uptick in activity will also yield an increase in competitiveness.
Interestingly, we also note an inordinate number of inquiries from Public Relations candidates indicating an uncertainty in company investment here as well as a shortage of new PR opportunities. Social Media experts and PR agencies seem to be replacing the traditional internal PR person or team.
Other trends include hiring for Social Responsibility initiatives, the ultimate being the growing value B Corporation certification, which The Honest Company, Warby Parker, Beautycounter, Macher, Etsy and Erbaviva have attained. Gaining experience here will add increasing value to candidates’ resumes, as there is a scarcity of this talent.
2015 also yielded a staggering number of acquisitions. Acquired brands were fertile ground for mining top talent.
TRENDS IN CANDIDATE OFFERS – COMPENSATION & BENEFITS
2015 saw the pendulum swing considerably towards candidates. When going after top talent, acceptable offers increasingly needed to have competitive base, bonus, and equity packages, as we saw a significant number of candidates receiving multiple and counter offers. Companies also offered more flexibility in 2015 with an increase in telecommuting, working from home a day a week, or even being home based. We saw an uptick in relocation packages as well with an average of $7,000 – $12,000 to move from NYC to LA.
West Coast beauty is growing in strength and prominence over the East Coast, as Mazur Group relocated more candidates from New York to Los Angeles in 2015 than in the five previous years combined. Candidates increasingly desire companies with more fresh and innovative approaches to business, and candidates are sensing that these opportunities lie in the West. One client declared “East Coast Beauty is asleep.” In years past, Creatives would never have moved to LA from New York, but 2015 showed numerous high level creative executives open to relocating to out West. Several who did make the move claim that the art and culture scene in LA is more compelling than in New York today.
As a motivated Beauty Executive, this is an exciting time to look for that right next step in your career. And if you’re on the hunt for that top talent, be prepared that you will likely have to offer more now than in many years.
With nearly 20 years experience recruiting for small to mid-size companies, as well as 25 of the Fortune 100, Frances Mazur brings a wealth of knowledge and a broad network of mid-to C-level executives in Beauty. Her recruitment firm, Mazur Group, places outstanding executive, managerial and professional-level executives, and has a unique process in never posting or pitching jobs. Mazur Group has a 95% client return rate and a strong track record of helping companies find game changing talent. Frances will always cherish her Midwestern values and work ethic and is a proud alumni of Indiana University and an active member of CEW (Cosmetic Executive Women) and BIW (Beauty Industry West).