Guest Blog: CTRM Talent Wars: Navigating the Future of Recruitment and Workforce Innovation by Carl Vellenoweth.
About the Author
Carl Vellenoweth has been a recognised leader in the CTRM talent market since 2005 and founded Commoditas in 2014. With over 20 years of experience, Carl has successfully delivered more than 350 CTRM projects and completed over 250 permanent mandates, helping vendors scale and overcome complex recruitment challenges.
Commoditas has conducted extensive market research over the past decade, gathering thousands of data points to analyse trends and produce detailed forecasts, with a strong focus on developments in the last 24 months. This research, combined with insights from platforms such as LinkedIn, Xing, Indeed, and Glassdoor, provides a practical and data-driven perspective on recruitment trends.
By focusing on innovating the workforce to compete in today’s evolving CTRM market, Carl and his team offer actionable strategies and expert insights to help businesses address their most pressing talent challenges.
The Evolution of CTRM: Adapting Talent Strategies for a New Era
Rewind to 2005, and CTRM (Commodity Trading and Risk Management) was an entirely different ballgame. Mentioning “regulations” back then would earn you a look reserved for suggesting snow boots in the Sahara.
Data? That was safely locked away in chilly server rooms—or perhaps even in dusty filing cabinets. Job roles were straightforward: a PM kept the projects on course, a BA gathered the sacred requirements, an architect drew up blueprints, a developer brought them to life, and a “techie” ensured the hardware didn’t self-destruct.
Fast forward to 2025, and it’s a whole new world. Traders are now whipping up Python scripts, cloud solutions are as ubiquitous as Wi-Fi, and AI is running the show. Deep learning is crafting smarter trading algorithms, RPA is doing the heavy lifting in back offices, and predictive analytics is helping risk managers sleep more easily at night.
Add blockchain and IoT to the mix, and suddenly it feels like CTRM has taken centre stage in a tech blockbuster.
The Problem? Talent Couldn’t Keep Up
Despite the technological leap, CTRM remained powered by people—and therein lay the rub. The talent pool hasn’t kept pace. According to Commoditas Research, global CTRM demand shot up by 42% over the last five years, while the workforce grew by only 21%.
Blame retirements or the allure of shinier industries like fintech, AI, and cybersecurity; the result was a serious talent crunch.
The Solution? Reinventing Recruitment
Companies began tossing the old hiring playbook. Degrees were out; skills were in. But AI hasn’t nailed it—scanning CVs for keywords often eliminates the real talent.
Great candidates frequently write terrible CVs—fact. Keyword-based filtering wasn’t just ineffective; it stifled innovation. Forward-thinking companies embraced human-centred strategies: flexible work arrangements to attract top talent, skill-based assessments to uncover hidden stars, and upskilling programmes to foster loyalty and future-proof their teams.
The smartest companies also turned to personalised recruitment, engaging directly with candidates to understand their potential beyond what was on paper. Some bypassed CVs altogether, opting for skills showcases, live challenges, and project-based evaluations to identify the true stars.
In the talent game, smart, strategic, and human beats outdated and automated every time.
What to Expect
In this article, we chart the talent landscape—from uncovering global hubs to examining how the top 15 CTRM vendors are allocating their resources. We explore industry hiring trends and highlight recruitment practices that work. Whether you’re an industry veteran or new to CTRM, you’ll leave with a roadmap to navigate the talent challenges ahead.
It’s a brave new world out there. The future of CTRM isn’t just about technology—it’s about the people who make it tick. So, let’s dive in and figure out how to win the talent game. Because, like it or not, the clock is ticking.
CTRM Hiring: How Vendors and Consultancies Shape the Talent Market
The CTRM industry thrives on talent—innovative systems require the right people to bring them to life. Vendors, from market leaders like ION Group to rising stars like Previse, are reshaping the job market with strategic hiring and smart partnerships. But it’s not just about who they hire—it’s about how they leverage their ecosystems to scale.
The Growth Picture
- Short-term Surge: Vendors like Previse and Orchestrade sprinted ahead, growing their teams by 8% in six months to meet rising demand.
- Mid-term Expansion: Workforce growth over 12 months averaged 14.2%, led by consulting-heavy players like Previse, soaring with 56% growth.
- Long-term Stability: Over two years, smaller vendors like Previse achieved an eye-watering 180% growth, while ION Group solidified its leadership with focused, stable hiring.
Growth Function Insights: The Momentum of Delivery-Focused Strategies
The data clearly indicates that vendors prioritising delivery-oriented functions, such as Consulting, Sales, and Operations, are experiencing the highest levels of growth, outperforming those focused on foundational or developmental areas like Engineering or Finance.
- Consulting emerges as the strongest growth function, with a remarkable 0.56 average growth rate, led by Previse’s focus on strategic advisory services.
- Sales shows consistent gains across multiple companies, reinforcing its importance in driving immediate market impact.
- Delivery-supportive roles like Operations and Research also contribute steadily to growth, reflecting their role in maintaining business momentum.
- Meanwhile, Engineering exhibits significant variability, with some vendors achieving moderate growth (e.g., DycoTrade at 0.11) while others face declines, underscoring the challenges of investing in technical infrastructure during transitional phases.
The findings suggest that companies in “delivery mode,” focused on executing services and engaging with clients, are better positioned to achieve short-term growth compared to those investing in building or restructuring capabilities.
This highlights the importance of aligning workforce strategies with immediate market demands to maintain a competitive edge.
Hires Analysis: Balancing Growth and Stability
Behind the hiring trends lay a careful balance between maintaining workforce stability and fuelling growth.
Key Insights:
- ION Group’s Strategic Leadership: As the industry leader, ION invested heavily in workforce retention and targeted growth, ensuring consistency across its global operations. Its partnerships with consultancies amplified its ability to deliver on large, complex projects.
- Small Vendors, Big Moves: Previse and similar players achieved outsized growth by focusing on precision hires that drove value for end-users.
- Consultancies as Job Creators: By leaning on system integrators, vendors indirectly created opportunities in project management, system integration, and ongoing support, expanding the CTRM job market far beyond their own teams.
The Takeaway
CTRM hiring wasn’t just about numbers—it was about strategy. From ION Group’s steady leadership to Previse’s rapid expansion, vendors were shaping the talent landscape in their own ways. And let’s not forget the hidden talent engines—consultancies and system integrators—that made it all possible. These partners didn’t just support the industry; they scaled it.
However, a significant challenge arose: talent gridlock. When vendors and consultancies formed exclusive partnerships, strict non-competes choked the flow of expertise. This created a squeeze in the talent pool, where demand for specialised skills far exceeded supply, leaving end-users scrambling to secure talent directly. As a result, industry growth began to outpace the distribution of talent, straining vendors, partners, and clients alike.
Consultancies like KWA Analytics and CapSpire, long-standing ION partners, already felt the pressure.
Even ION wasn’t immune. As the CTRM market continued to grow, so did this imbalance. The solution? Vendors and partners needed to rethink how they shared talent and adapt their strategies to sustain the industry’s rapid expansion.
Mapping the Global CTRM Workforce
Where did this vital talent reside?
Let’s break down the CTRM talent market based on the latest data:
- United States (37.2%): The U.S. led as the global hub for SaaS innovation, data analytics, and risk management. Houston remained an energy powerhouse, with CTRM hiring driven by increased investments in energy. Historically, oil and gas hiring surged by 18% during Trump’s first term, and similar policies reignited activity in Houston. The result? A steady pipeline of CTRM talent ready to support innovation and trading growth.
- India (22.5%): India dominated as the technical backbone of the CTRM industry. With expertise in cost-effective implementation, cloud integration, and 24/7 support, it saw an 8% market jump post-COVID, driven by demand for remote operations and scalable tech solutions. This growth cemented India’s position as an essential global partner.
- United Kingdom (17.6%): The UK blended tradition with innovation, excelling in risk management and consulting. London’s role as a financial hub ensured consistent demand for CTRM talent, particularly in energy and commodity trading. Strategic business-facing roles dominated hiring, aligning with the region’s strengths in blending market expertise with innovation.
- Canada (6.2%): Canada emerged as a niche market for CTRM talent, specialising in natural resource management and energy analytics. Growth was further fuelled by a rising focus on renewable energy, aligning with global CTRM trends.
- Germany (5.6%): Germany’s hiring trends reflected its focus on regulatory compliance and sustainability. As Europe’s leader in energy transition initiatives, the country saw steady demand for CTRM professionals in compliance-heavy and localised roles.
- Switzerland (5.2%): Once a dominant hub for commodity trading, Switzerland lost momentum as ETRM hirers relocated to Singapore and the Middle East. While still a leader in consulting and precision roles, the shift indicated a changing landscape in global CTRM talent distribution.
- Spain (3.3%): Spain emerged as a key player in CTRM support functions, particularly in energy trading and analytics, making it a rising star within Europe.
- Singapore (2.5%): Singapore continued gaining traction as the APAC gateway for CTRM talent. Its dominance in LNG and commodities trading attracted vendors and end-users alike, positioning it as a strategic hub for global operations.
Key Takeaways
- Sales and Consulting Dominate: The U.S. and Switzerland led in hiring sales and consulting roles, reflecting the demand for client-facing and high-value expertise.
- Technical Hubs: India continued to dominate technical and engineering hiring, with an 8% market share jump post-COVID, solidifying its global scalability.
- Regional Specialisation: The UK focused on strategic business-facing roles, while Germany led in compliance and sustainability expertise.
- Emerging Markets: Singapore drew talent from traditional hubs like Switzerland, while Canada carved a niche in natural resource analytics.
India: The Global Powerhouse of ETRM Talent
When it came to ETRM talent, India led the charge, with Bengaluru sitting firmly at its core.
Over the past three years, India grew faster than any other region, becoming the go-to destination for offshoring and operational efficiency. From Shell to BP, energy giants rewrote their playbooks to lean on India’s unparalleled mix of cost and expertise.
BP’s recent decision to cut 7,700 jobs globally, including 1,100 in IT, and move much of the workload to India, wasn’t a one-off move. It was a blueprint for survival in a cost-sensitive market—one that companies like ExxonMobil, Chevron, and TotalEnergies had already adopted.
Why India is Leading
- Bengaluru’s Dominance: Home to 49.8% of India’s estimated ETRM workforce (approximately 1,100 professionals),
- Cost + Expertise: Offering world-class talent at competitive rates, India’s workforce became the backbone for global operations.
- A Proven Model: Shell pioneered offshoring to India in 2010, creating one of the largest IT hubs globally—a strategy that now defines the industry.
Other Key Regions in India
- Maharashtra (24.6%, ~543 professionals): Pune leveraged its proximity to Mumbai to build a growing ETRM base, cementing its place as a rising star.
- Delhi NCR (9.1%, ~201 professionals): A niche hub for compliance-heavy and consulting roles, thriving on regulatory expertise.
- Hyderabad (9%, ~199 professionals): Competitive costs and a tech-forward reputation made Hyderabad a strong contender for offshoring investments.
- Tamil Nadu (7.5%, ~166 professionals): Chennai provided a steady pipeline of talent, particularly for back-office and support functions.
The Challenges of Securing Talent
Despite India’s dominance, the hiring process came with challenges:
Category | Current Trends | 10 Years Ago | 15 Years Ago |
Interview Ghosting | 28% of candidates ghost during hiring | 12% ghosting reported. | <8% ghosting. |
Counteroffer Acceptance | 57% accept counteroffers from current employers. | 23% accepted offers. | 14% accepted offers. |
Average Tenure | 1.8 years in a role. | 6.7 years. | 7.9 years. |
Strategies to Win in India’s Talent Market
- Streamlined Processes: Simplify recruitment steps to avoid losing candidates to competitors or counteroffers.
- Transparent Communication: Clearly define job roles, salary, and growth opportunities to align expectations.
- Competitive Offers: Offer attractive compensation and benefits to discourage counteroffers.
- Retention Focus: Invest in training programmes, career progression, and engagement initiatives to extend employee tenure.
- Proactive Communication: Stay connected with candidates throughout the hiring process to build trust and reduce ghosting.
The Offshoring Playbook: Why Everyone Is Betting on India
What started with Shell’s offshoring strategy to India in 2010 has now become the industry standard. Companies like BP, ExxonMobil, Chevron, and TotalEnergies rely on India to deliver scalable, cost-effective operations.
Vendors such as Fendahl (95.58% workforce in India), EKA (80.1%), and ION Group (31.3%) demonstrate the success of this model.
The numbers don’t lie: India’s ETRM talent is the future, and Bengaluru is the epicentre of this transformation. For global energy giants, consultancies, and vendors, the question isn’t whether to leverage India—it’s how quickly they can tap into its potential.
The Agile Workforce: CTRM’s Blueprint for Talent Success
The CTRM talent landscape is evolving rapidly. With tech job tenures dropping 45% in the last decade (LinkedIn Global Talent Trends), businesses are pivoting from rigid hiring models to agility, speed, and precision. The result? A workforce that adapts to rapid change and delivers value at every stage.
Why Agility Works
Traditional hiring is no longer sufficient. Job tenures are shorter, skills become outdated faster, and the cost of a bad hire can reach 30% of an employee’s annual salary (SHRM). Agile models, blending contractors, temp-to-perm roles, and project-based talent, solve these challenges by allowing companies to scale teams, onboard fresh skills for critical phases, and avoid long-term overheads.
Insight: Companies adopting agile workforce strategies reported 35% faster project delivery and 25% cost savings (Gartner).
Temp-to-Perm: A Smarter Way to Hire
Temp-to-perm hiring bridges flexibility and commitment, offering a low-risk way for businesses and candidates to find the right fit. Companies benefit from testing talent in real-world scenarios before committing, while candidates gain insight into company culture and growth opportunities.
Trend: In 2024, 48% of tech companies adopted temp-to-perm roles, with 70% of those transitioning into full-time positions (Randstad).
Streamlining Recruitment: Speed is Everything
Time kills deals, and outdated hiring processes—dragging on for weeks—risk losing top talent to competitors. Companies leading in 2024 compressed timelines, with some completing hires in under a week.
- Faster Decisions: Streamlining workflows and eliminating unnecessary steps reduced drop-offs by 35%.
- Cultural Engagement: Early involvement in company culture helped secure buy-in, cutting counteroffer risks.
- Results: A leading CTRM vendor reduced recruitment cycles to one week, securing top talent before competitors made offers.
Capability as a Service: Skills When They’re Needed
CTRM businesses increasingly turned to Capability as a Service (CaaS), hiring talent tailored to project needs rather than fixed roles. By aligning skills with specific project phases, CaaS reduced costs and accelerated timelines.
- Phased Expertise: Specialists were brought in for design, implementation, or support as needed.
- Cost Efficiency: Companies paid only for the expertise required, avoiding long-term overheads.
- Execution Gains: Faster onboarding ensured projects stayed on track.
Engagement Managers: The Offshore Bridge
As offshoring to hubs like India, Southeast Asia, South Africa and South America grew, Engagement Managers became essential. These professionals bridged cultural and operational gaps, ensuring smooth collaboration between offshore teams and Western businesses.
- Cultural Alignment: Offshore teams met Western standards and expectations.
- Quality Oversight: Timelines and deliverables were managed for consistency.
- Seamless Communication: Engagement managers acted as the glue across time zones and teams.
Growth Forecast: Engagement manager roles are projected to grow by 12-15% annually, driven by the increasing reliance on offshore talent.
The Future of CTRM Talent Acquisition
- Agility Wins: Flexible hiring models are becoming the new norm.
- Temp-to-Perm is Rising: A low-risk approach to securing the right talent.
- Speed Matters: Streamlined processes secure top candidates before competitors.
- CaaS Delivers: Hiring for skills instead of roles maximises efficiency and outcomes.
- Global Connections: Engagement managers are critical as businesses expand reliance on offshore hubs.
The CTRM hiring market is shifting, and agility isn’t just a strategy—it’s a necessity. By adapting to these trends, businesses can ensure they’re not just keeping up but staying ahead in a highly competitive landscape.
Shaping the Future of CTRM Talent: Adapting to Change and Embracing Innovation
The CTRM landscape has undergone a seismic shift, evolving from traditional practices into a technology-driven industry powered by AI, blockchain, and predictive analytics. This transformation has opened exciting possibilities but also exposed a critical challenge: the growing demand for talent far outpaces the available workforce.
To succeed, businesses must adopt agile hiring models, prioritise skills over degrees, and embrace strategies like temp-to-perm roles and Capability as a Service (CaaS) to build flexible, cost-efficient teams. Leveraging global talent hubs like India, the United States, and emerging markets such as Singapore and Canada has become essential for scaling operations while maintaining innovation.
Additionally, Engagement Managers are pivotal in ensuring seamless collaboration between offshore teams and global organisations.
CTRM vendors are reshaping the market, from ION Group’s focus on stability and retention to smaller players like Previse and Orchestrade driving rapid growth through precision hiring.
Consultancies and system integrators continue to act as critical talent engines, filling gaps and enabling scalability. However, the growing use of exclusive partnerships and non-compete agreements risks creating bottlenecks in talent distribution, adding urgency to the need for more collaborative industry approaches.
The future of CTRM depends on agility, innovation, and people-first strategies.
- How will your organisation adapt to these shifting dynamics?
- Will you embrace the speed, flexibility, and global reach needed to stay competitive?
The challenges are real, but so are the opportunities to shape the future of this vibrant industry. The time to act is now.
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