Lessons from 2008: Marketers on surviving recession and carving out career success
Reflecting on what they learnt from the 2008 credit crunch, marketing leaders explain how careers can recover amid pandemic and recession.
With the Bank of England forecasting the UK is poised to enter the worst recession for 300 years, 8.9 million people currently on furlough and whole sections on the economy still effectively on hold, from a careers perspective it can feel a little bleak.
As Covid-19 related recruitment freezes enter their fourth month, marketing job statistics make for grim reading. There are around 5,542 marketing vacancies currently available across the UK, 75% lower than last year according to recruitment search engine Adzuna.
There are 58% fewer chief marketing officer roles being recruited for, year on year, 81% fewer vacancies for marketing directors and 79% fewer for marketing managers.
While it is true that the recruitment picture seems bleak, perspective is needed. Many marketers leading companies today weathered the storm of the 2008 recession and lived to fight another day.
Sholto Douglas-Home joined Hays as CMO in April 2008, just months before the global financial crisis hit.
