It is safe to say, without raising too many eyebrows, that 2009 was not the most prosperous of years in terms of recruitment. However, in spite of the recession, working in the Public Sector seems to have taken on a new lease of life – and the early indications are that 2010 will be a far better, if not a ‘bumper’, year.
The Office for National Statistics (ONS) claims that public sector workers earn 7% more than their peers working in the private sector. Maybe it’s reasonable to assume that there might be other significant benefits working in the public sector. Despite the economy in disarray with numbers of vacancies distinctly lower, the shrewd candidate can turn that to his or her advantage.
Increasingly, people with a commercial background are looking for a new direction and, similarly, public sector line managers are favouring candidates with extensive commercial experience. As recruitment consultants, we are certainly seeing more and more candidates who are looking to join an industry that is selfless, yet rewarding. Despite the worrying plight that we find the economy to be in, candidates who posses strong, ‘in demand’ skills are experiencing first-hand the benefits that the public sector has to offer.
The ONS expects average annual earnings within the public sector to have hit £22,405 in 2009, compared to the average commercial worker reaching £20,988 – although we should be aware that this statistic is not specific to the finance sector.
However, the public sector has long been seen to offer other benefits, such as improved working conditions – an average working week of 35 hours is not uncommon – and the ability to take up a pension at the tender age of 58. For those with an altruistic streak, the most significant factor when working in the public sector is the ability to ‘give something back’; doing good for both oneself and others.
So what of the future of the public sector?
The public sector is arguably 12-18 months behind the curve compared to organisations within the industry. It is widely accepted that 2010 will be a tough year, particularly with a general election looming and a change of government a distinct possibility. In fact, it is almost certain that public deficit will be reduced with the help from cuts in public sector services, and this will have an inevitable impact on jobs. However, to reiterate an earlier point, those with strong experience and marketable skills will still be of interest to the public sector – perhaps more so now than ever.
Regardless of the political hue of any new government, we will see significant changes in the public sector. My prediction is that the next five to ten years will be more rewarding than ever for finance professionals in the public sector – particularly those who will take change by the scruff of the neck.
Nick Ross currently recruits finance and accountancy professionals across the Public Sector at WH Marks Sattin. For more information about joining an industry that is ultimately selfless yet rewarding, then contact anyone on the Public Sector team at WH Marks Sattin.
