If levels of recruitment activity indicate the health of an industry, then Q4 of 2008 saw the technology sector being rushed to A&E. The global financial crisis and resultant lack of business confidence ensured a hiring paralysis was pervasive across the industry from “early stage” VC backed businesses through to large global corporations. Due to this diagnosis Gillamor Stephens approached 2009 with the expectation that it was going to be a very challenging year. However nine months on we have been pleased at the number of search assignments that have been conducted.

Most hiring activity has been with the VC backed businesses, despite limited levels of new funding, as the investors have sought to change and strengthen the boards of their portfolio companies. This activity has encompassed a broad spectrum of technology businesses from PCB manufacturing processes to technology enabled services and cloud computing. Location has been equally diverse, with assignments conducted across the UK, Ireland, Finland, Spain, Holland, Germany, France and Switzerland.

Proven CEOs are in particular demand; with experienced individuals capable of delivering top line and EBIT growth being much fêted, especially those whose track record includes leading companies to a successful exit in challenging times. Other companies have sought Sales Directors to galvanize sales teams, bring structure and rigour to the sales process, shape value propositions and deliver the revenue number. The VP Engineering has also entered our most wanted lists, as clients’ seek candidates to “productise” their offering, optimise product lifecycle management and deliver a quality product on time and on budget.

As 2009 has progressed, renewed hiring activity within the European corporate technology sector could indicate increased levels of confidence. However appointments tend to be selective and strategic, as companies seek entry to new verticals or to build new service lines. It seems that from a hiring perspective, the green shoots of recovery in the corporate technology companies may be a little later in developing than in the VC technology sector.