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Group roles disappearing
A trend going nowhere this year is the disappearance of larger group NPD roles. This indicates that businesses either don't believe they need a group NPD influence or don't want to commit to hiring for it now. Over the last few years, many NPD Directors have been removed and replaced with the Head of the role, which companies are able to hire for significantly lower salaries. Does this make business sense in the long run? Time will tell.
The majority of NPD Teams stretched
This isn't a new trend. Multiple NPD teams nationwide continue to be overworked, with many being asked to either a) cover multiple or b) work harder/longer hours. A career in product development can be challenging, but I believe now, businesses need to prioritise increasing their headcount across NPD if they want to continue to grow the bottom line.
Beauty Parade Hiring
A tried and tested market sense check seems to be happening now. “Beauty parade hiring” is when companies interview numerous candidates and do not make any offers.
At least two retailers have personally told me they are doing this. This isn't a new practice within our industry but has increased over the last 3 months. Often, this practice is done as a stress test to ensure they have the right talent internally or could even be used to gain market insight if that company has appraisals on the horizon. It's a strategy that, when used effectively, can provide valuable insights and opportunities.
Conclusion
It's not all bad! Companies that are hiring are demonstrating adaptability to the current market dynamics. They understand that when they need to hire, they must do so with pace and precision. They are open-minded and ensure that they offer candidates the right level of opportunity from the start, fostering a sense of optimism in the industry.
So onwards and upwards and let’s see what quarter 3 brings!
