A return to hiring in 2021 despite Covid concerns - survey

Alternatives demand set to grow

Global distribution teams are set to grow over 2021 despite continued pressure from Covid restrictions and increased fee compression, according to Magellan Advisory Partners' Distribution Barometer 2021.

Nearly three-quarters (73%) of distribution heads surveyed predicted they would add to their headcount in the coming year, compared to just a third (33%) in 2020, although managers have become more "pragmatic" with their hiring in order to get budgets signed off. This has led to a trend of redundancies in one region followed by redeployment in another, as managers reconsider the priority status of some countries. Combined with travel restrictions, this has caused a shift from the "fly-in, fly-out" model of sales, with more firms focusing on building a local presence to maintain and bu...