2012 NGMR Recruiter Predictions (Predictions Part III of V)
Continuing with the 2012 NGMR Prediction series I started on New Year’s Day, today I have predictions from a few of the many recruiters who are now active members of the Next Gen Market Research community. I believe they have an important/leading indicator perspective of the front lines in our industry.
I see continued growth in the demand for advanced analytics talent across industries as well as a deeper merger of custom market research suppliers with the database marketing industry. I believe there will be strong demand for the custom researcher who can also harness data to pinpoint targeting consumers down to nearly the individual level. True ROI measures of DB marketing efforts will be the value-added offering down the pike, at least as long as privacy fanatics don’t sink the ship!
We have experienced an increased demand for marketing research professionals in both 2010 and 2011. This increase was at all levels, from Associate Research Manager through VP levels, and in all areas, custom primary, analytics and shopper insights. Based on what we have heard from our clients, we expect to see a even stronger demand in marketing research positions throughout 2012. Since the majority of our clients are CPG companies (or companies that want CPG experience), we are coming from a perspective of what is happening in the CPG world. Currently, we have a very robust list of jobs within CPG companies at all levels.
In addition, we are seeing that while companies are definitely hiring market researchers, it’s not just about doing the research but being more strategic. The individuals that are able to translate insights into business results are ultimately the ones in high demand and the ones that companies are willing to wait for. This was true in 2011 and will continue into 2012. Another focus we have seen emerging in 2011 is an emphasis on digital/social media.
I see companies saying Uncle when it comes to hiring. They are going to have to give up on the notion of paying less money for talented staff. The trend has been to hire 1 junior person to replace 2 or 3 senior researchers that were in the previous role.
I also believe you are going to see more researchers moving jobs as they have been over worked and underpaid for a long long time and are fed up. This will also likely result in companies trying to retain there employees with stay bonus and promises of raises as they give notice. I read this quote from a newsletter from MarketResearchCareers and think is says it all “For perhaps the first time in the MR industry, compensation will be based upon what a researcher can do rather than what they have done”
There was in increase during 2011 for market researchers at all levels with skills in custom primary market research and analytics with demands from Manufacturers, Retailers and Suppliers.
In addition to the standard skill set, I have noticed a demand for strategic, branding and consultative skills. Working knowledge of Social Media and Digital Research is also something I am seeing more of. More than ever, candidates are required to be able to understand business issues in order to translate data into insights that bring about real results. Job applicants should expect to demonstrate what they can offer a potential employer in terms of creativity and initiative.
On the hiring side, I anticipate salaries will need to be increased if employers want to keep their top talent. I see a definite restlessness amongst people who have been employed at one place over the past few years - perhaps as a result of being over burdened with work and/or perhaps because the market is opening up.
All in all I look forward to an active and interesting 2012 with a continuing growth trend
As I look back at 2011 and forward to 20212 and beyond I continue to see analytics growing in its importance to the decision making process. The past few years have been characterized by change in how analytics are used, new metrics and methodologies will continue to evolve to meet the new needs of clients. Digital, mobile and shopper analytics are in the forefront and will continue to be. Who is my shopper, what do they want and how do I get to them effectively and efficiently and measure my results, are the questions that everyone is asking.
I believe that the search for top analytic talent will continue into 2012 and beyond. Manufacturers, Suppliers and Retailers will continue to emphasize the consultative approach to working with and for them. The status quo is no longer acceptable. One must offer and provide the intellectual capital coupled with the analytic acumen that guides businesses to new and better levels.
Hiring companies and managers are and will continue to be more selective and rigorous in their interviewing process and in who they hire. Perspective candidates need to “up their game” and do homework on the company and their competition. Figure out the issues the company faces and what you offer -what sets you apart from others - Being prepared, asking great questions and being actively engaged in the conversation is essential. It’s about what you can offer to a perspective employer not just what the employer can offer you. That said companies should be able to articulate their point of difference and why someone would want to work there. Top talent is always hard to find and the competition for it is fierce.
Global and U.S. spending in Marketing Research is up for 2010 and 2011 overall, although in the single digits (3% - 5%). Given a soft global economy and on the heels of the worst economic downturn since Leo Durocher was a Yankee, the industry is doing pretty well.
More specifically, the growth and excitement in market research is and will continue to be in the application of advanced analytics to measure consumer/audience behavior and in the application of all methods of analytics/insights to the Internet. In a world where the largest marketing research firms continue to devour each other and as a result, cut back people and deliverables, Digital Measurement is a true growth area for our industry
Our shortest and most modest prediction comes from Data Mining Guru Gregory Piatetsky-Shapiro, specifically in regard to data mining jobs.
For now I think it will be an even year
A big than you to all who participated so far.
In case you missed it yesterday we had predictions from several client side NGMR members. Look for expert predictions specifically from leaders in the field of Text Analytics in tomorrow’s post.