Welcome to Part 2 of our Inside Insight 2017 blog, charting each chapter's key take-aways from the report's full findings. Last week, we took you through the first four chapters, and today we're revealing some final key insights from chapters five to nine. For a copy of the report itself in full, please email email@example.com.
Chapter 5: Budgets
As the demand for IC continues to increase, it looks like organisations are still largely investing budget as required. Inside Insight 2017 reveals that 53% of IC budgets remained static last year, with 15% increasing, but a significant 32% experiencing a cut. That said, 30% of IC professionals are still presumably the envy of all, reporting a dedicated budget in excess of £100,000 per year.
Chapter 6: Remuneration
Pay and benefits remain fairly static across both permanent and interim IC employment, with no significant changes noticed within the last 12 months. However, 82% of Inside Insight's respondents state they are open to considering a new job in the next 12 months, even though 47% have received a pay rise in the last year. It would seem that salary is still a key driver over company loyalty, with 69% of people willing to join their company's main competitor for a £10,000 salary increase.
Chapter 7: Interim
Nearly 30% of respondents are currently working within the profession’s interim market. We found they’re often attracted to this way of working due to the clear cut nature of a contractor’s projects, combined with set deliverables and a specific end date, as opposed to the ongoing, broader remit of permanent positions. Furthermore, although Brexit looms large over the UK economy, over two thirds of our respondents remain open-minded to the benefits this might bring to the interim market.
Chapter 8: Recruitment
Much like last year, the majority of IC professionals are on the lookout for a new job. In 2016, 54% of internal communicators were looking for their next role, and this year that has risen by a further 4%. Overall, 82% are at the very least open to the possibility of looking for a new job in the next 12 months, whereas last year, that figure was 79%. Whatever the motivators for this might be, it could be a challenging year ahead for IC leaders.
Chapter 9: Personal Development
One concerning factor highlighted by this year’s set of results is the continued lack of training and development taking place in the sector by its practitioners. Although IC is more in demand that ever before (and whilst today’s CEOs are more demanding of their IC staff), it would seem that IC professionals are not keeping up the pace with their own personal development.
Only 11% of IC professionals receive a formal training and development allowance as part of their salary and benefits package. Only 7% invested in an IC related training course in the last 12 months, whilst 64% seem to reject the value of a professional IC related training qualification altogether. In addition, over half (55%) of IC professionals are not affiliated with any professional body.
It’s difficult to see how IC professionals will keep their skills up to date with the evolving and increasing needs of their CEOs and organisations. It begs the question, will the sector eventually reach a point when the key element holding it back is itself?
That wraps up our key take-away run down! If your interest is peaked and you’d like to hear more about Inside Insight 2017, or for a copy of the report itself in full, please contact firstname.lastname@example.org.
To talk to one of our team about how we can provide recruitment or executive search support to your internal communications team, please contact Andrew Harvey, UK Managing Director, VMA GROUP, at AHarvey@vmagroup.com.