2022 in review and looking forward to 2023

by Alicia Buckley, Consultant MadlinHanna Consulting

This year has been consistently busy with hiring, movement and growth across the corporate affairs industry. Agencies have been flourishing and in-house teams are back in growth mode after their risk-averse approach during the pandemic. Here are the key themes from this year and our predictions for 2023. 

2022

On the agency side, there was a significant increase in senior hiring as team structures changed, people moved on and the focus shifted to growth, new business and diversifying expertise.   

Public affairs, in particular, has witnessed a great deal of change over the past 12 months. Some agencies having underinvested in talent with a Labour network were looking to bolster their capabilities on the left.  

The in-house market recovered from the risk-averse environment of the pandemic and we saw plenty of growth hires, rather than replacements in these teams. Financial services, real estate and consumer brands were particularly busy.

From a geographical perspective, the wave of EU public affairs growing in Brussels has not stopped and plenty of key movement in that market suggests it will continue to do well. 

Salaries 

Salaries have dramatically shifted, especially on the agency side. The average uplift secured this year on an agency move was 21% which matches the highest we have seen. Sign-on bonuses have often been used at the senior level for marquee hires. This year, we have seen them used as a mechanism to attract great talent at the mid-level too. The in-house roles remain just as desirable so they haven’t had to compete but this may change going into next year as candidates are reluctant to move sideways or even take a pay-cut in this climate. 

2023 

Two areas that we expect to grow exponentially next year across both agencies and in-house teams are ESG and digital communications. Each agency has a different approach to these teams and the work that they do. The opportunity for them is that there is no limit to the impact they can have across sectors or industries. It will be really important for in-house teams to develop their own expertise.  

We expect to see a continual expansion of agencies geographically. Either with international offices growing or partnerships developing, to expand their footprint and improve their global reach 

There will be more demand for mid-level talent in-house as we expect senior departures to not be directly replaced and more cost-efficient routes to be explored. 

Finally, with increased stability in the flexible working model, we expect there to be challenges with some businesses trying to increase minimum number of days in the office. This will likely have an impact on their ability to attract and retain talent. 

MadlinHanna Consulting is a recruitment consultancy specialising in corporate affairs, covering public affairs, corporate communications and financial PR. Contact us on 020 8088 4102 for more information or a confidential conversation about these services and more.