Permanent placements return to pre-Brexit levels.
- Initial shock of the EU referendum result is likely to have subsided for employers
- However, employees remain concerned causing candidate availability to fall
Positions that were put on hold during June and July, as businesses reacted to Brexit-triggered market volatility, have been confirmed in August. There is unlikely to be any big changes in the job market, like those seen during the financial crash, until EU negotiations begin and their consequences become clearer.
Candidate availability falls
With much of the post-Brexit focus being on retaining business’ confidence in the UK market, it seems employees are remaining anxious. During times of economic stress, people tend to stick with the job they have rather than look for new employment. Candidates with skills in compliance and risk are currently in short supply in the financial and accounting industry.
Permanent salary growth rate increases
The rise in starting salaries for permanent candidates has increased, possibly caused by the high number of successful senior-level placements during August. The shortage of suitable candidates may also have triggered this growth in starting salary, to attract talented candidates that are reluctant to move jobs. A recent analysis into remuneration by Recruitment Connection Ltd shows this trend is likely favour medium to large size businesses, as they are able to scale up and offer larger company benefit packages to attract and retain talent.
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