Each quarter, our specialist Indirect Tax team monitors the number of in-house vacancies released onto the job market across Europe to provide you with a quarterly overview of recruiting trends. The data below provides a digestible snapshot to the in-house market from adverts posted directly from employers.*
What happened in Q3?
It's come as no surprise that the Global Customs & Trade market has pertained the title of being a consistent market for job seekers. Following Q2’s breakdown, there’s been a rather large quantity of roles open to those at the graduate to junior level.
In what’s been considered a highly uncertain outcome in the divisive topic of Brexit, there have been few consequences on the market. The interesting thing about the market recently, however, has been the fact that hiring managers have considered Customs to become a candidate short market. It could be argued that this comes down to companies’ strong ability to retain and motivate their staff preceding an impending UK departure from the EU.
A view into the Customs Market
The Customs & Global Trade employment market has proven to be extremely buoyant in 2019 with total job listings consistently being in excess of 100 per quarter. Q1 reflected a total of 100 vacancies, whilst Q3 rallied an increase to 118 new vacancies, not including re-advertised roles or agency represented vacancies.
Figure 1 shows the demand at different grades in the market, with most roles opening at the junior to mid-grade (mid-level Management). Junior grade roles (Analyst levels) made up 67% of the market, maintaining the trend we’ve seen across the last few quarters.
As displayed in Figure 2, it’s clear that there’s been a relatively clear distribution of jobs across Europe. Controlling over 50% of the market, the UK, Ireland and the DACH regions were the most active in creating roles across Customs & Global Trade.
Establishing & Analysing the Demand
In the UK & Ireland last quarter, we saw a total of 30 vacancies. Figure 3 highlights a similar sum (32) of roles, all of which fell at the junior and mid management level. Last quarter saw several mid-management roles open, however moving into the second half of the year, the UK controlled a relatively larger portion of the market.
As seen in Figure 4, the BENELUX region has become an extremely attractive place to live and work in as one of our Tax Expats have outlined; this could be thanks to the lucrative 30% tax ruling. The Netherlands in particular, is arguably one of the top destinations in Western Europe – 17 vacancies alone in this region made up 50% the BENELUX market.
This quarter has seen a significant increase in output from the DACH region. Figure 5 reflects 38 roles opening in the DACH market. Not only does this indicate a booming DACH market (which is also in line with our reportings for Indirect Tax & Tax Technology jobs), but we were provided with the most variety across all grades. It’s worth noting, however, that most vacancies were still pitched at the junior level.
The Rest of Europe, shown in Figure 6, was relatively quiet with a total of only 20 advertised vacancies. However, outside of the UK, BENELUX, and DACH hubs, it’s clear that there’s higher demand for more Management graded positions, which is likely due to the fact that large in-house tax teams are less prevalent in these countries and therefore customs and global trade remains a one-man-band function.
Leading up to what’s likely to be a very controversial October, it’s been interesting to see hiring trends in the Customs and Global Trade market. Considering the buoyant market, it’s been nothing short of a roller coaster ride which will culminate in the UK’s Brexit. In addition to that, we cannot forget the current status of trade talks between the US and China - this has of course created more than enough stir.
Current events have arguably had an extremely positive impact to this niche sector of Indirect Tax and will remain to be a favourable market for any job seekers. It’s become a market that’s done well to hold onto key members of staff (creating the candidate short market), however, once uncertainties in the trade market settle, it’ll be interesting to see how this will impact businesses’ customs departments in the near future.
If you’d like to hear more about the job market, please get in touch with Josh Rapaport.
*We omit the number of confidential mandates that HJ are assigned or job adverts posted by other recruitment firms. It should also be highlighted that many vacancies go unadvertised due to confidential or highly sensitive searches.
Josh Rapaport is a Recruitment Consultant in the Tax Division at Harvey John.
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