We are 5 months into our stateside expansion, and I’m delighted to report we hit the ground running, having settled in to our new office and adjusted to the pace of Midtown.
New York City is certainly a different way of life to Yorkshire, where my fellow ex-pats Tom Lodge & Oliver Clift and I have been working in recent years but we are adapting well and are even starting to pick up the language, with the help our of new team members, which is actually very different!
Hiring wise the speed of the US market is a dream to work in, due to the urgency created by hiring managers and HR alike. This, alongside the strength of the dollar and the fact the economy’s in good shape (2.6 million jobs were created last year compared to 2.2 million in 2017) means that I think Charlton Morris are very well placed to succeed here.
In the Life Science Industry, we are seeing location-specific hiring trends; mainly Boston & San Francisco, particularly for sales & business development candidates. Whilst these are obviously booming markets, I’d argue you may get more ‘bang for your buck’ when it comes to candidates in other locations, but more on that to follow.
A market we are focusing attention on at the moment is bioinformatics. It’s a highly innovative space and growing rapidly, with the market predicted to almost double in size from $7.73B in 2018 to $13.5B in 2023. We also seem to keep bumping into bioinformatic sales specialists all over the city, which is always a good sign!
As for our industrial market, the resurgent oil price is something we are closely monitoring and our next hire at Charlton Morris NYC will most likely be looking to take advantage of this space.
The US was Charlton Morris’ biggest region for revenue last year and accounted for 21% of our overall placements in 2017/18. I now feel that the service we can offer in the US from having an office here is at a completely different level. The accessibility to the West Coast time zone wise, and a physical presence on the East Coast will undoubtedly see revenues rise this year. The personal touch of meeting with clients is still unparalleled in our industry and this will continue to be a focus as we progress through the year.
When speaking with industry peers about our transition, it was often met with words of caution about the difficulties we may experience in the first year in business but fortunately we only have good things to report. In Q1 we achieved over 230% of target, making 20+ executive placements. We are managing current accounts much more efficiently and opening new accounts with exciting US clients daily. Our proactive and client-centric recruitment approach which we have brought with us from the UK recruitment appears to be being received very well.
Charlton Morris Inc are also delighted to announce our new home, which will be located, downtown in Soho in one of the most desirable locations in the City.
Please stop by if you are in the area, and here’s to 2019, and a bright future for Charlton Morris USA.