As we have made our way through the first quarter of the new Financial Year the main observation is that the world of Transformation is here to stay!
Within Financial Services, there are still a number of large pieces of work that are taking place and / or moving into the next phase, which has meant that many BA’s are being kept busy working on these. Thanks to the Royal Commission and upcoming Banking Code of Practice review, BA’s with a Regulatory / Risk / Compliance background are still a hot commodity as they are needed to work across these projects / programs.
Across our C&I clients we are seeing an increased appetite for permanent or FTC resources across most levels within Transformation. This is in order to retain specialist IP knowledge but also to be able to offer the Business Analysis longevity, security and career progression opportunities.
Across most industries / organisations there has been an increased demand for BA’s who are Lean Six Sigma certified due a number of organisations looking to streamline their processes and enhance the customer experience.
Specifically within the Heavy Industry space we are seeing them investing in BA’s who are more "hybrid" candidates so can get into the detail as BA’s do however can also look at the broader project and be involved in some Project Management tasks. We believe that developing your skill set and adding strings to your bow is certainly the way forward in the C&I space at the moment.
Finally - Location! Location! Location! There is a huge push for roles based outside of the CBD particularly for our large non-FS Corporates. These organisations have some exciting programs / project underway or in planning phase so if you are looking for an opportunity where you can live closer to home or get away from the hustle and bustle of the City then some of the hot areas include Norwest, West, South & North Sydney. We have clients who are based in these areas who are keen to hire top talent right now!
A top tip from the BA team at Morgan McKinley, when looking for your next BA role is important to be flexible and open! Even though the current market is buoyant, especially in the contractor world, it is imperative to keep yourself and expectations realistic. When employing a contractor, clients want BA’s who have worked in the same domain or have worked on similar projects previously. If they are looking for a generalist BA or somebody that they will need to train, then they will nine times out of ten pull a BA from the internal permanent resource pool.
The start of the new Financial Year for a number of our clients bought with it an influx of permanent or fixed term opportunities at the Program/Project Manager level. Demand has remained high across the quarter and is likely to continue until the end of the year as Programs look to resource up before the quieter January period.
New regulatory Programs and more pressure from the Royal Commission has meant that demand at the Project Manager/Senior PM level has remained high across our Financial Services clients.
An interesting trend has come through from Super Funds and Insurance companies advancing their Customer and Technology focus, this has created new projects to improve the businesses processes, systems and digital presence. This growth and new-found focus has opened the doors for Technology Led PM"s and the increased movement across Industries.
We have seen more activity in the PMO space in comparisons to other quarters, as more large Programs grow we have seen a number of PMO’s being set up, with the demand for PMO Managers coming from a range of industries.
A slower quarter in the Process Improvement space, the restructuring of Productivity teams across some of the larger organisations in the market has resulted in a few Lean Six Sigma consultants coming onto the market.
The main requirements from clients continue to be across the "hands on" level as companies look to bring in resources who can deliver tangible benefits within tight deadlines. The demand for contractors remains higher than that of permanent staff as many clients choose to adopt a more flexible workforce to help with Improvement Programs.
Q3 has continued to be busy for Change but in comparison to other quarters, which cried out for junior change professionals, this demand has been across all levels. The ripple effect of the Royal Commission going into organisations was more of a SPLASH in change, meaning that instead of requirements being isolated to within Financial Services, roles were being offered across industry and with elevated rates.
There has been a slight improvement on day rates at Change Manager level which could be a result of the shortage of people available at this level. We have noticed clients in heavy industry, gaming and utilities embark on journeys to uplift their change capability.
The forecast for Q4 is hot for the change market, with projects ramping up recruitment to hit 2019 in a good place.