UK Intellectual Property Sector Market Review
Phillipa Field of Fellows and Associates offers a recruiter’s perspective on the current IP market.
It has been some time since we gave our view on current market conditions and, after noting a shift in activity, we thought it would be worth highlighting the comparisons and discussing any developments. To provide a slightly different perspective it will be me airing my thoughts, as opposed to the more regular offerings from Pete. Rather than concentrating on recruitment activity specifically, I am also going to look at the bigger picture – changes in attitude and the motivations of both candidate and client.
Candidate oh candidate wherefore art thou candidate?
As recruiters, we are no longer finding it difficult to pick up new instructions from clients; it’s finding the candidates to fill them which is now becoming the issue. And it seems that UK private practices may be beginning to realise that rather than trying to weather the storm and hope that candidates will simply reappear, they need to become more flexible in their recruitment procedures.
The main difficulty that I see when it comes to firms attracting candidates is the struggle to differentiate from the competition and the ability to cement themselves as the ‘go to’ for candidates looking for something a bit ‘different’. But what is different? As recruiters, we are guilty of using buzz words such as ‘autonomy’, ‘meritocracy’ and ‘career progression’ sometimes without offering further explanation. However it can be challenging distinguishing particular opportunities when roles appear to have similar responsibilities, at least on face value. Most private practices do not provide job descriptions and to illustrate my point, since I started at Fellows and Associates early last year I have only seen a handful of job descriptions provided by a firm. It is, of course, a key part of our job to garner an understanding of the firm and role in question and relay this to the candidate. However it can demonstrate to a candidate that the firm is taking the recruitment process very seriously by providing a job description, it can also support what a recruiter is saying on your behalf, giving their argument additional weight. For candidates who are tentative about moving positions, something on paper that they can digest over time can be the nudge they need to make an application.
I do believe that firms should invest in their brand and be visible to potential candidates from early on. Patent and Trade Mark attorneys are a meticulous breed who listen to the deep rooted opinions of the industry, some of which may no longer be relevant due to firms evolving over time. This results in some damage control on our part to correctly educate on the actual working environment of private practices, in comparison to the rumour and speculation they may hear from their friends, peers and colleagues.
The more information a firm can provide the better. We suggest a collection of printed information to be provided to candidates on, or prior to, interview clearly mapping out a firm’s career structure, levels of salary and bonus scheme coupled with details of the team, the working environment and typical clients/work mix. In our opinion this would certainly help the decision making process, with less ‘hand holding’ needed on our part and demonstrates that the firm are truly committed to the hiring process.
The past economy really shook the confidence of those looking to move, with many hesitant as to whether their future really would be brighter (or any more secure) elsewhere. Whilst some of these doubts are fading in 2013, details provided by a firm of what a candidate can expect in a new position will help assuage any fears they might have.
An exercise which has proven successful for us in sourcing candidates for our clients is looking to overseas. Some firms are open to this idea, and we have recently placed foreign qualified patent attorneys in new roles and have interviews ongoing with others. It can be a daunting process obtaining an employment visa for an international candidate but once a firm has done it once there are less hoops to jump through, making the process easier over time. Particularly in the area of electronics, where candidate shortages are particularly stark (and it is not uncommon for us to obtain several offers for a good UK candidate) an international candidate may be the only way to fill a position in a reasonable time frame.
Demand for attorneys with an electronics technical background has not faltered since Pete’s report back in July of last year. It seems that the retention of work and client base is regarded as more important than the level of experience of the candidate, with firms open to receiving applications from part qualified upwards. Firms are also expressing a desire to make lateral hires at a senior level. Up until recently it seemed that the majority of roles were exclusively reserved for part and recently qualified candidates, however this may be changing (albeit in some cases the desire will remain a desire, perhaps due to a combination of internal politics and fear of the unknown).
It’s a good time to be an engineer
One area where we have seen a significant increase in need is mechanical engineering. It was mentioned by Pete in our last musings that we could be seeing a renaissance of sorts but we were sceptical as to how long the bubble would last. It is slightly more than a spike, as previously thought, but less of a boom. The need is mostly concentrated to a few sources defined by an acute urgency, rather than ongoing movement across the entire industry.
There was a flurry of activity for candidates with a chemistry background, however this was short lived and it seems most firms have seen a small uptake in work but are unsure of what type of candidate they need. So, as with biotechnology, the market is relatively flat at present.
The biggest difference since our last report is the change of dynamic in trade marks. An area which was a positive whirlwind of excitement last year is now the occasional non-committal mention from a client. However, as with any of the areas mentioned above, it is most definitely a case of peaks and troughs. Although some are seemingly taking longer to bounce back than others.
Recruitment evolution
I’ve discussed how firms may need to evolve in order to attract candidates; however I think this is also very much the case for recruitment agencies in the IP sector. When catching up with our clients it is interesting to hear how retained recruitment and headhunt campaigns are becoming rare in the UK. This is something that we are heavily involved in and will always offer as an option, should we feel it will benefit their search. It is no secret that we also invest in social media and dedicate time to keeping our channels; LinkedIn, Twitter, Google+ and Facebook, fresh and up to date. We’ve found that these routes can deliver significant success, when used correctly.
I feel the industry is changing with less restrictions in place, such as the openness (somewhat) to recruit from overseas, the establishment of patent and trade mark prosecution departments as independent and successful entities in larger law firms and the inclusion of IP lawyers and litigators within dedicated IP private practice.
So in conclusion, it seems that the stand out differences from this time last year is the halt of activity in trade marks and the increased willingness to make lateral hires and source candidates from overseas. However, it is still very much a mixed picture, with electronics (and to a lesser extent mechanical engineering) booming and life sciences trailing behind.
Phillipa Field is a recruitment consultant at Fellows and Associates. She loves her job and cats, a lot.