2024 Talent Trends: Overcoming Challenges and Anticipating Growth
Introduction from GAP Talent MD, Ian Woodthorpe
“As we reflect on 2024, it is clear that this year will be remembered for the significant slowdown in hiring across the professional services industry, both in Europe and globally. The combination of elevated interest rates, ongoing political uncertainty, and the gradual easing of inflation has created a cautious business environment. Confidence has waned, resulting in some of the lowest attrition rates we’ve seen in years, with firms delaying investments and strategic hiring decisions as they await greater economic clarity.”
Ian Woodthorpe
Managing Director ACA CA(SA)
Our business, like many of our long-standing clients – who we refer to as “Talent Partners”, has not been immune to these market dynamics. The shift has required a careful and measured approach as we navigate these challenging times. However, we are now beginning to observe encouraging signs of recovery. Early indicators, or “green shoots,” are emerging within the economy, suggesting steady return of confidence.
Looking ahead, we are optimistic that Q1 2025 will mark a turning point. We anticipate a renewed demand for global talent, coupled with a strategic focus on skill sourcing in the UK and Ireland. This anticipated market shift is expected to reinvigorate the professional services landscape, creating a more dynamic and buoyant environment. As we move forward, we remain committed to staying ahead of these trends, ensuring that our business and our partners are well-positioned to capitalize on the opportunities that lie ahead.
We also want to express our deep gratitude to our committed team and our dedicated, loyal Talent Partners with whom we have collaborated for many years. Your unwavering support underpins our #GAPGivesBack initiative, including our efforts with the Door of Hope Children’s Mission in South Africa. Together, we are making a meaningful impact, both in the communities and industries we serve.
