1 Get back into banking
Savvas Savouri, the chief economist at Tosca, the hedge fund, recently predicted that 100,000 new financial services jobs would be created in London over the next decade. Specialist consultants are also needed, with growth in demand throughout the financial services sector, Alan Leaman, chief executive of the Management Consultancies Association, said. There will be an emphasis on restructuring, helping banks to remain competitive and, particularly, dealing with new financial regulations, he said.
2 Think temporary
Companies took on 33 per cent more temporary and contract staff at the end of last year than 12 months before, according to KPMG and the Recruitment and Employment Confederation. As the economy picks up, a number of employers — keen to avoid more redundancies if the market worsens again — will choose to hire potential new staff on interim arrangements before deciding whether to make things permanent, Charles Russam, the chairman of Russam GMS, an interim placement agency, said.
3 Learn a language
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Euro London Appointments, a financial and banking specialist, reports an increase in demand from brokerage houses for people with fluent French, German, Dutch or Scandinavian to work in equity sales. Annette Cox, an associate director at the Institute for Employment Studies (IES), suggests Mandarin, particularly for anyone working in an export-related business: “The Chinese economy is set to boom ... and in the long term looks set to overtake the US,” she said.
4 Delve into digital
Digital communication is expanding and will continue to do so for some years yet, creating opportunities in IT, communications and marketing, Charles Logan, the managing director at Hays, the recruitment company, said. “The capacity for growth and investment in this area is huge,” he said. “Digital marketers, online strategy managers and technical and strategic professionals, such as SEO [search engine optimisation] experts, will continue to be in demand.”
5 Go green
The Government has promised to invest £100 billion in renewable energy, creating 70,000 jobs. Mr Logan expects to see jobs created in nuclear power and throughout the energy sector, not only in new technologies. “Decommissioning [old nuclear power stations] will continue to be in high demand, as will those candidates with retro-fit experience [upgrading existing facilities],” he said. Ian Jenkins, managing director of RUSTON wheb, a clean technology search firm, identified offshore wind and anaerobic digestion as areas looking for both engineering and project management skills.
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6 Turn to science
Our ageing population means that anything related to health and wellbeing looks a safe bet. Those with cross-disciplinary skills — for example, engineers who understand biochemistry — will be in a particularly strong position, Dr Cox said. And there will always be a need for medicine, so the pharmaceutical industry is another good place to look.
7 Move on to the front line
Nursing, medical and care staff are the most sought-after employees in the UK, according to KPMG’s and the Recruitment and Employment Confederation’s latest Report on Jobs, while the Children’s Workforce Development Council has started a publicity campaign to attract more people to train as social workers. “And we’re always looking for teachers,” said a spokesman for the Training and Development Agency for Schools, which hopes to recruit 36,000 in 2010-11 — qualifications in science, engineering, maths and technology are particularly sought-after.
8 Start your own business
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Recessions are the classic time for entrepreneurs to get going. No inspiration? Consider a franchise; about 90 per cent of franchisees are still reporting a profit despite the recession, including 81 per cent of those in their first two years of operation, according to the British Franchise Association.
9 Give yourself a sporting chance
With Britain scheduled to host the Olympic Games and at least two world cups — cricket and rugby — in the next ten years, jobs related to sport and tourism look strong, Dr Cox said. “Sports coaches at every level are likely to be in demand, as will people with skills in event management and all the service industries that visitors will need. We’re always short of chefs. And anyone who works in visitor economy sectors like hotels, restaurants, retail and cultural activities will be [in demand].”
10 Retreat to a garret
Research by the Institute of Employment Studies has concluded that graduates of creative courses — art, design, fashion and the like — are well-placed to survive tough economic times because they value creativity above wealth. Many of them make their living by mixing a range of freelance projects and part-time jobs; this doesn’t make them wealthy, with half earning £20,000 or less, but it does make them happy — three quarters are satisfied with their jobs (the national average is 44 per cent).