Market Update
Bringing you insight from our experts
Hear directly from our experts who will recap 2024, share talent predictions for 2025, and highlight key trends shaping the industry. Expect insights on evolving skills, emerging technologies, and strategies organisations will adopt to stay competitive in the coming year.
Just click on your area of interest
Accountancy and Finance Banking and FSChange and TransformationLife SciencesManufacturingPrivate Equity
Procurement
Property
Public SectorStrategy and ConsultingTechnology Leadership
Technology ERP
Technology Data & Cloud
Technology Cyber Security
Technology Software Engineering
Linkedin | Email
2024 Quick Recap
The accountancy and finance landscape in 2024 faced challenges but showed resilience. Hiring continued across levels and sectors, though Technology, Media, and Telecommunications (TMT) and Consumer segments struggled with post-COVID recovery, writers’ strikes, and tech layoffs amid rising living costs.
2025 Outlook
The 2025 outlook is more optimistic, with cautious investment resumption and a focus on process automation, strategic redesign, and long-term efficiency. Finance professionals will expand their roles, supporting marketing, digital strategy, and cybersecurity, while ERP implementations and AI adoption highlight finance's role as a data-driven advisor to the C-suite.
2025 Key Trends
ERP Implementation & Business Partnering: Finance leaders must align ERP upgrades with cost efficiency and ensure ROI from consultancies.
Executive Business Partnering: Finance’s strategic advisory role grows, offering critical insights amid tighter margins.
Technology-Finance: Hybrid roles will bridge AI, automation, and cloud innovation with financial expertise.
As we move into 2025, I am excited to see how it all unfolds. Clients are focusing on building for the future, and we are here to support them on their journey with tailored talent solutions.
Recruitment in financial markets in 2024 was driven by demand for expertise in AI, ESG investing, and risk management. Clients sought tech-savvy talent with broad skill sets and up-to-date regulatory knowledge. There was consistent demand for top-tier candidates, with a clear preference for those with strong analytical, data-driven, and strategic decision-making abilities.
Looking ahead to 2025, recruitment in financial markets will reflect evolving technology, regulatory shifts, and talent gaps. Expertise in AI, blockchain, and data analytics will be highly sought after, alongside roles in ESG, sustainability, and compliance. Firms will value professionals skilled in navigating uncertainties, delivering innovation, and thriving in hybrid work settings. Collaboration and influencing skills will be critical, with an emphasis on potential and adaptability.
Tech Transformation: Growing demand for experts in AI, blockchain, and data analytics will reshape financial markets.
ESG Hiring: Sustainability and compliance roles will dominate recruitment as businesses align with global ESG goals.
Hybrid Work & Skills: Strong collaboration and influencing abilities will be essential in the hybrid work era.
There is no doubt that 2024 has been slower than usual for hiring, but as we approach 2025, the feeling amongst our clients is cautious optimism, with more significant growth forecasted for the end of H1.
In 2024, transformation initiatives slowed as organisations prioritised stabilising operations amidst economic uncertainty. Efforts focused on cost reduction, resilience, and replacing legacy systems with scalable technology. Data and process optimisation took precedence, refining practices and driving automation to prepare for AI-driven opportunities.
In 2025, transformation efforts are accelerating, with ERP implementations (SAP, Dynamics 365, Workday) leading the way. Leaders are reframing these as business projects, not just IT upgrades, for better outcomes. Data strategies and automation are essential for AI readiness. Upskilling and sustainability will ensure workforce adaptability, while immersive technologies and hybrid collaboration tools redefine innovation and resilience.
ERP Transformation: Success relies on framing ERP as business-led, avoiding technology-first pitfalls.
Data and Automation: AI and RPA enhance operations, productivity, and decision-making with real-time analysis and workflow optimisation.
Workforce Empowerment: Equipping employees with skills and tools is critical for navigating technological change.
After a transitional year in 2024, the stage is set for a more ambitious outlook in 2025, as organisations began laying foundations for comprehensive transformation efforts.
2024 was marked by continued growth, the integration of advanced technologies, and a shift toward more personalised, sustainable, and efficient healthcare solutions. The year reinforced the life sciences sector’s adaptability in the face of challenges and its pivotal role in advancing human health and medical science.
With the continued development of AI tools, overall, 2025 promises to be a year of rapid technological advancement and strategic shifts within both the life sciences and medical device industry. The convergence of innovative biotechnologies, sustainability efforts, digital health, and regulatory adaptation will define the industry’s growth and resilience in the face of evolving challenges.
Increased Demand for CDMOs: CDMOs will expand capabilities in biologics, personalised medicines, and mRNA vaccines.
Artificial Intelligence: AI will improve diagnostics, surgeries, drug discovery, and personalised medicine.
Biomanufacturing & Sustainability: Companies are investing in eco-friendly, efficient biomanufacturing using renewable resources and circular economy practices.
It's a dynamic landscape, and the competition for skilled talent will be fierce as companies work to stay ahead of these trends.
The manufacturing industry saw significant advancements in automation, AI, and sustainability. Companies adopted Industry 4.0 technologies, improving efficiency and reducing costs. Supply chain disruptions eased, while digital twins and smart factories gained momentum. Sustainability practices focused on carbon reduction and circular economy principles became mainstream.
Manufacturing will continue its digital transformation with AI, automation, and IoT. Smart factories and predictive analytics will boost efficiency and cut costs, while sustainability will focus on green manufacturing and circular economy models. Supply chain resilience will drive local production and diversified sourcing. Innovations in 3D printing, robotics, and materials science will reshape manufacturing, enhancing adaptability and competitiveness.
Automation & AIAI and automation will optimise production, predict maintenance, and manage supply chains. Robotics and machine learning will enable real-time demand adaptation.
SustainabilityManufacturers will focus on reducing waste, energy use, and emissions, adopting circular economy models and green materials.
Digital Twins & Smart ManufacturingDigital twins and IoT sensors will enable real-time monitoring, analysis, and optimisation, improving production efficiency.
The industry's ability to balance cutting-edge technology with sustainable practices will define success, driving innovation and resilience across global markets.
InX’s Private Equity practice had a busy year focusing on Operating Partner builds, portfolio company executive hiring, and interim support for strategic activities, transformation, and carveouts. Post-2021-22 deal booms and subsequent uncertainty, funds have strengthened operational expertise to turn around underperforming assets and drive growth. High-impact executives with proven track records in turnaround and growth have been in high demand for Chief Transformation Officer, CFO, and Operating Partner roles.
Investor sentiment is bullish for 2025, with PE funds expecting a rise in deal activity. Hiring across the board will increase as funds grow more confident, and average time-to-hire returns to normal levels. Top talent will be in high demand, requiring investors to act quickly and decisively to secure the best executives.
Growth in Operating Partner & Value Creation Teams: Expect increased focus on industry experience and a shift towards functional specialists over generalists.
Increased Executive Recruitment within Portfolio Companies: PE funds will be more active in executive hiring below the CEO/CFO level, embedding key leaders like Chief Transformation Officers.
Fierce Competition for Talent: As deal activity rises, funds will aggressively pursue top talent, leading to quicker and more competitive hiring processes.
Investor confidence is rising, leading to increased deal activity and fierce competition for top talent
2024 Quick RecapThe procurement market focused on sustainability, digital transformation, and supply chain resilience. AI tools streamlined operations, while ESG compliance became crucial. Geopolitical uncertainties and inflation pressured costs, increasing demand for strategic sourcing. Companies emphasised supplier collaboration and risk management to stay agile in a changing global landscape.
Procurement will evolve with increased use of AI, blockchain, and predictive analytics. Sustainability and ESG compliance will remain priorities as stricter regulations push greener practices. Supplier collaboration and ethical sourcing will gain importance, while talent acquisition and upskilling are essential to harness emerging technologies. Procurement will drive innovation, cost efficiency, and sustainability, with private equity modernising supply chains to support portfolio growth.
Sustainability & ESG Compliance: Stricter regulations and consumer demands will drive responsible sourcing practices.
Advanced Technology Integration: AI, blockchain, and predictive analytics will enhance transparency and streamline procurement decision-making.
Supply Chain Resilience: Companies will diversify suppliers and strengthen strategies to manage geopolitical and economic risks.
Procurement recruitment will focus on candidates with technological expertise, strategic thinking, and strong sustainability commitment.
The property industry in 2024 experienced volatility and stalled growth amid political uncertainty. While construction showed short-term growth in two quarters, facilities management (FM), particularly in the private sector, thrived, with data centres emerging as a key growth area. Real estate plateaued but saw promising investment signs in Q4.
As 2025 begins, the market appears stable, driven by urbanisation, infrastructure projects, and housing developments. Employers are using innovative office designs to attract employees back, while AI-driven facilities management creates new opportunities. The ‘Net Zero’ agenda continues to fuel recruitment, and real estate is rebounding, led by luxury, build-to-rent, and core commercial properties. The expanding data centre market will also shape the sector.
Workplace Investment: Companies are enhancing office spaces to encourage a return to the office and improve employee engagement.
Infrastructure Competition: National-scale projects are intensifying competition across infrastructure, driving recruitment demand.
AI in Facilities Management: The adoption of AI in FM solutions is boosting demand for analysts to optimise operations and efficiency.
2025 will be a prosperous year across the built environment and business services sectors, with exciting opportunities for innovation and growth.
Following initial caution around public spending, the change of government brought renewed momentum to the market. Certainty, even in the public sector, builds confidence, and we saw a notable increase in leaders leveraging our expertise to strengthen their teams and drive progress.
Looking to 2025, the UK public sector is set for growth, driven by transformative change and solidified priorities. Demand will rise for contractors to provide agile, specialist support for time-sensitive projects and permanent hires to build long-term capabilities. With expertise in change, HR, tech, procurement, and operations, we are ready to support the public sector during this transformation.
Workforce Agility with Surge Contracting: Budget constraints will make surge contracting vital for addressing immediate needs flexibly.
Growth in Digital Transformation: Modernising public services will accelerate digital initiatives, boosting demand for tech talent.
Public-Private Partnerships: Collaboration with private firms will be key to achieving ambitious goals under financial constraints.
The public sector is at a pivotal moment of transformation. With a focus on agility and innovation, 2025 will see new opportunities emerge, demanding expertise, collaboration, and a commitment to meaningful change.
The strategy and consulting sector in 2024 saw significant talent movement, with consultants transitioning to corporate strategy, private equity, or other consulting firms. Demand for analytical rigor, problem-solving, and strategic thinking shaped hiring. Graduates stayed at their first firm for an average of 4.9 years, with attrition peaking at Manager level, while only 12% of MBAs advanced to equity Partner roles.
Recruitment in 2025 will focus on addressing talent attrition in consulting firms. Corporates, PE firms, and consultancies will seek talent with strong analytical and strategic skills. Graduates and MBAs remain vital hiring pools, but retention strategies will be crucial to reduce mid-career turnover. With only 29% of consultants staying in the industry long-term, firms must refine hiring and development practices to attract professionals from other sectors.
Managing Mid-Level Attrition: Firms will enhance retention strategies and career development to address high turnover at Manager levels.
Cross-Sector Talent Competition: Increased movement of consultants to corporate and PE roles will intensify demand for strategic talent.
Prioritising Advanced Education: With 53% of Partners holding Master’s or MBA degrees, academic excellence will remain a priority.
Managing talent attrition and adapting to shifting career dynamics will be critical for consulting success.
The demand for technology leaders in 2024 focused on professionals with the ability to align technology strategies with business goals. Roles like CTOs and CIOs evolved to emphasise transformative leadership, stakeholder engagement, and innovation management.
Strategic visionaries with expertise in AI, cloud, and digital transformation will play a crucial role in shaping organisational strategies for the future. Leaders skilled in change management will be pivotal in navigating large-scale technology transitions, such as ERP migrations and enhancing cybersecurity frameworks. Additionally, diversity in leadership remains a top priority, as organisations increasingly recognise the value of varied perspectives in driving innovation, fostering equity, and enhancing decision-making processes.
Strategic Visionaries: Leaders with a deep understanding of AI, cloud, and digital transformation will drive organisational strategy.
Change Management: Executives skilled in managing large-scale technology shifts, such as ERP migrations and cybersecurity improvements, will be pivotal.
Diversity in Leadership: Organisations will continue efforts to diversify leadership teams, recognising the value of varied perspectives in decision-making.
Now, technology leadership is about steering businesses toward long-term innovation and resilience, while ensuring organisations can adapt at pace, if required.
The ERP market in 2024 saw steady demand, driven by businesses prioritising S/4HANA migrations and cloud adoption. While fewer new implementations occurred compared to prior years, organisations laid the groundwork for upcoming transformation projects. Skilled ERP professionals remained in high demand as companies sought expertise in SAP, AI integration, and hybrid cloud solutions.
Organisations are ramping up greenfield projects and S/4HANA upgrades ahead of ECC6's end-of-life deadline. The integration of AI into ERP systems will demand expertise in AI-enabled tools. Flexible hiring models, including remote and hybrid approaches, will be key to attracting top ERP talent in this evolving landscape.
Increased Activity: A significant uptick in greenfield implementation projects and upgrades as organisations accelerate transitions to S/4HANA ahead of ECC6's end-of-life deadline.
Emerging Technologies: Integration of AI within ERP systems will necessitate talent capable of navigating AI-enabled processes and tools.
Hybrid Workforces: A flexible hiring approach, including remote and hybrid models, will be a priority for firms seeking to attract top ERP talent.
2024 was a hesitant year in terms of new implementations and upgrades, the ‘green shoots’ are already starting to emerge to indicate a busier year in 2025.
The data and cloud market experienced sustained growth in 2024, reflecting businesses' commitment to data-driven decision-making and digital transformation. Demand for professionals with skills in generative AI, machine learning, and cloud architecture remained strong. While competition for top-tier talent persisted, companies invested in both technical and cross-functional expertise to maintain innovation.
The rise of generative AI and automation will increase demand for specialists in data engineering, analytics, and scalable AI deployment. Hybrid and multi-cloud strategies will make expertise in managing environments and data governance crucial. Nearshoring in hubs like Romania, Portugal, and Spain will grow, driven by cost efficiency and talent availability.
AI and Automation: Continued growth in generative AI and automation technologies will spur demand for specialists in data engineering, analytics, and scalable AI deployment.
Hybrid and Multi-Cloud Strategies: Talent adept at managing hybrid environments and ensuring robust data governance will be increasingly valuable.
Nearshoring Trends: Talent sourcing from nearshore hubs such as Romania, Portugal, and Spain will expand, driven by cost efficiency and skill availability.
Businesses want talent who can leverage data and cloud technologies to transform their organisations, unlock new opportunities, and deliver tangible business value.
Cybersecurity recruitment in 2024 remained dynamic, underpinned by rising cyber threats and evolving regulatory requirements. Organisations prioritised technical hires over leadership roles, focusing on skills such as cloud security, incident response, and penetration testing. Competitive compensation and upskilling initiatives addressed the sector's enduring skills gap.
The increasing use of AI and automation will boost demand for specialists securing AI systems and addressing AI-driven cyberattacks. Regulatory compliance experts adept at frameworks like GDPR and DORA will see growing opportunities. Expanding diversity initiatives and heightened geopolitical risks will also drive recruitment in critical infrastructure and government sectors.
AI and Automation: Specialists in securing AI-driven systems and mitigating AI-based cyberattacks will be in high demand.
Regulatory Compliance: Legal and compliance professionals adept at navigating updated regulations like GDPR and DORA will see increased opportunities.
Geopolitical Risks: National security concerns will fuel recruitment for roles tied to critical infrastructure and government sectors.
We expect to see continued trends towards automation and cyber security improvement programmes gaining momentum in 2025.
The software development market in 2024 remained strong, fuelled by demand for scalable, secure, and innovative solutions. Organisations sought expertise in full-stack development, microservices, and DevOps practices to support digital transformation and AI integration initiatives.
As AI and machine learning become integral to software products, developers with expertise in their integration will be in high demand. Agile development will remain dominant, requiring strong cross-functional collaboration, while rising cybersecurity concerns emphasise secure coding from the outset.
AI and ML Integration: Developers with experience embedding AI and machine learning within software products will be highly sought after.
Agile Development: Agile methodologies will continue to dominate, driving demand for developers with cross-functional collaboration skills.
Security by Design: Rising cybersecurity concerns will increase the emphasis on secure coding practices and integration of security features early in the development lifecycle.
Software developers are at the forefront of digital innovation, and their ability to deliver scalable, AI-driven solutions will be a game-changer for businesses in 2025.
