Business Quick Stats..

A Snapshot of Statistics from Recent Months

84% of small businesses have no official ransomware policy. Staff are put at risk of cyber attacks….

92% of cyber attacks suffered by UK businesses were targeted at connected devices such as networked security cameras….

5 million working hours are lost every week by small businesses due to everyday IT issues

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4 Qualities Top CEOs Look for in Leadership Roles

Want to make your CV stand out? 4 Crucial Qualities Top CEOs Look for in Leadership Roles!

  • Purpose

The more successful companies strive to make a difference; their focus is not solely on making money.

How can candidates show this?

Their purpose for being hired is more than simply making money and hitting targets…

  • Empowering Employees

CEOs want to hire employees who will have a positive influence on the rest of the workforce.

How can candidates show this?

They are eager to learn, possess critical thinking skills and will empower the rest of the workforce to develop through providing them with learning opportunities…

  • A Bias Towards Learning

A leader in a company must show a desire to constantly learn and develop. Industries and business are forever adapting and changing in relation to market trends, political upheavals, changes in law etc. A leader himself must also evolve symbiotically.

How can candidates show this?

Past academic achievements and experience are vital, but so too must the candidate show relevant future ambitions and plans…

  • Good Knowledge of Social Media

Recruiters frequently spot potential candidates for roles through social media sites such as LinkedIn, Twitter, etc. It is important to make the use of such sites so that your competitors do not fill up vacancies before you.

How can candidates show this?

Sign up to as many social media platforms as possible, highlighting your key strengths on it and putting as many relevant keywords in the post to attract as many recruiters as possible…

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UKEF to Help UK SME’s Access Financial Support

UK Export Finance (UKEF), on Monday 16th October 2017, announced that it has launched a new partnership with five renowned high street banks – Barclays, Llyods, HSBC, NatWest and Santander – to provide SMEs with access to millions in government-backed trade finance.

What is UKEF? 

UKEF, as part of the Department for International Trade, provides financial support to help UK companies sell to international customers.

What are the implications of this new partnership?

Now that SMEs have access UKEF-backed finance, they have greater support to access major export contracts, to access growth markets worldwide and seize international trading opportunities.

SMEs can access UKEF finance directly from their banks, even if they have reached their credit limit or if the proposed contract is considered too great a risk for the banks to take on alone. Removing the often slow process of applying separately to The Department for International Trade as well as the banks, SMEs can easily access funds within seconds where the transaction is eligible. 

Does this scheme only benefit SMEs which are selling overseas?

No! This scheme also allows SMEs which supply products directly to overseas-selling companies to qualify for UKEF finance. This helps SMEs deliver their products into new markets and, by securing contracts with renowned UK exporters, SMEs can benefit from the global demand for UK goods and services.

 

 

 

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Business Quick Stats..

A Snapshot of Statistics from Recent Months

16%According to research by The University of Edinburgh, the likelihood of success increase 16% if entrepreneurs write a formal start-up business plan….

45%:27%According to a study by Aston University, there has been a 45% increase in the proportion of women who became entrepreneurs and went into business. The increase among men was only 27%….

48% – According to a survey by OFX, 48% of small firms in the UK have increased international sales since the EU referendum….

 

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Declined pace in permanent placements, candidate shortages and higher salaries

October Report on Jobs

Key Points from the September Survey

  • Permanent placements rise at weakest pace for five months
  • Candidate shortages continue to drive up pay rates


1. Staff Appointments

Growth in permanent staff appointments eases

The number of people placed into permanent job roles continued to increase in September, stretching the current sequence of growth to 14 months. Though solid, the rate of expansion was the slowest recorded since April. Evidence indicated that strong demand for permanent staff across both new and existing clients supported the latest upturn. However, there were some reports that a lack of suitably skilled candidates had weighed on overall growth.

On a regional basis, growth of permanent placements was the most marked in the Midlands and the South of England.

2. Vacancies

Vacancies continue to rise sharply

There has been a further sharp increase in demand for staff. Steep growth of demand was signalled for permanent staff during September.

Other vacancy indicators

Data from the Office for National Statistics (ONS) indicated that job vacancies rose by 3.2% year-on-year in the three months to August. This was down only slightly from a 3.5% increase in the preceding three months.

3. Staff Availability

Availability of permanent staff

The availability of permanent candidates continued to fall sharply in September. Notably, the rate of reduction was the most marked for four months.

The South of England continued to record the steepest drop in permanent candidate numbers, though all remaining UK regions also saw sharp rates of contraction.

4. Pay Pressures

Permanent Salaries

Although the rate of salary growth softened since August, it remained sharp overall. Evidence indicated that a shortage of suitable candidates had placed upward pressure on pay.

The South of England saw the steepest increase in permanent starting salaries of all monitored UK regions, followed by Scotland.

5. Vacancies – Feature

Latest labour market data published by the Office for National Statistics (ONS) indicated that there were 774,000 job vacancies for June to August 2017. This represented an increase of 24,000 compared to the same time last year.

The official numbers back up the strong increases in staff demand. Notably, the ONS data indicated that the number of job vacancies in 2017 have exceeded any level since the series began in 2001. Vacancies broken down by sector revealed that the vast majority of unfulfilled roles (687,000) were in the services sector.

 

Simon Bean, Managing Director of Recruitment Connection says:

“The above trends highlight that it is becoming increasing difficult to fill vacancies for permanent roles. The shortage of suitable candidates has in turn triggered increased pressure on salaries.”

“The struggle to recruit for permanent places, particularly in the financial sector, resonates throughout the UK; London, however, has been hit the hardest and placements have declined for the first time in eleven months.”

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Continued high demand leading to key shortages and increasing salaries…

Key August points

  • Permanent placements rise
  • Demand for staff increases at fastest rate since April 2015
  • Candidate availability declines at quicker pace, pushing pay rates higher

Commentary: Employers are finding it harder to find the people to fill the jobs available. In many areas of the jobs market candidate supply cannot meet demand. Employers are having to offer more money to secure the people with the skills they need. This is good news for individuals, but businesses will be concerned about the sustainability of this trend as businesses can only grow if they have access to the people and skills they need.

UK wide …

Staff appointments continue to rise sharply in August

The number of people placed into permanent job roles continued to rise sharply in August

Staff vacancies rise at quickest rate for 28 months

August showed a further steep increase in staff vacancies. Furthermore, growth of demand for staff reached its highest since April 2015.

Pay growth strengthens…

Growth of permanent starting salaries accelerated for the fourth month running in August. Notably, it was the quickest rate of pay inflation seen since October 2015.

…amid further drop in candidate availability

The availability of candidates to fulfil permanent job roles continued to decline sharply in August.

In the South of England there was a sharp increase in permanent placements in August

Permanent placements rise at sharper rate

The number of people placed into permanent roles in the South of England increased for the thirteenth successive month in August.

Faster drop in permanent candidate supply

There has been a further deterioration in the availability of permanent staff in August and one of the key notable shortages in the SE has been paraplanners.

 

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Staff appointments increase at fastest rate for over two years as candidate availability drops..

Key points from July:

  •  Permanent placements growth reaches 27-month record
  •  Marked decline in staff availability contributes to further increases in pay.

The jobs market continues to confound expectations with both permanent and temporary placements growing at the fastest rate for over two years. Starting salaries are also still rising, so for workers who want to boost their earnings now is a good time to consider moving job.

It’s clear that employers are having to work even harder to fill jobs as vacancies rise and candidate availability shrinks. UK employment remains at an all-time high and looks set to keep improving. The parts of the economy most reliant on European workers are under even more pressure as many EU workers return home.

London in particular is feeling the Brexit effect. Hiring is still growing but at a much slower rate compared with every other region of the UK. Financial services, a crucial part of the London labour market, are not hiring in their usual quantity as the uncertainty caused by Brexit makes them hesitant.

 

 

 

Candidate availability continues to decline markedly…

The availability of permanent workers continued to fall sharply during July although the rate of reduction eased for permanent staff.

…imparting further upward pressure on pay

Starting salaries for successful permanent candidates rose further in July, with the rate of inflation reaching a 20-month record.

 

 

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Market News – Existing skills shortages are being exacerbated by Brexit.

Key points from the June :

  • Permanent placements continue to rise markedly
  • Availability of candidates continues to decline sharply
  • Growth in permanent placements moderates, while temp billings rise at faster pace
  • South of England sees the quickest drop in candidate availability of all UK regions
  • Pay pressures intensify & Starting salaries increase at quickest pace for just over a year-and-a-half

With fewer people currently looking for jobs, employers are having to increase starting salaries to secure the talent they need. This is creating great opportunities for people with in-demand skills who are prepared to change jobs, but it’s also putting unsustainable pressure on many businesses.

Existing skills shortages are being exacerbated by Brexit. For example, demand for accountants and other financial roles has increased recently as organisations try to protect themselves against economic uncertainty. London alone employs almost 200,000 EU nationals in these roles. Policies which make it more difficult to recruit and retain these people will put business growth at risk.

Investment in training the domestic workforce is vital to the long-term health of the jobs market, but it won’t allay employers’ fears about losing access to workers from the EU. The government needs to outline a five-year roadmap for post-Brexit immigration policy to enable businesses to plan effectively, and so the UK economy can flourish.

Staff appointments increase at softer pace

Permanent placements continued to rise sharply in June, despite the rate of expansion easing slightly since May’s

25-month peak.

Demand for staff holds close to May’s 21-month peak

Demand for staff continued to rise in June, with the rate of growth staying close to May’s recent peak. This was despite both permanent and temporary vacancies rising at slightly weaker rates than in the previous month.

 

Salary growth fastest for over a year-and-a-half…

Permanent starting salaries rose at a sharp and accelerated rate that was the fastest in 19 months in June. Growth in hourly pay rates also quickened since May, and reached a six-month record.

 

…as candidate availability continues to decline

The pool of available candidates for both permanent and temporary roles continued to shrink markedly in June. While the number of permanent candidates fell at a slightly softer pace than in May, the supply of temporary labour deteriorated at the quickest rate in 18 months.

 

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Demand for staff is growing within all sectors and all regions of the UK.

The key points changes this month

  • Permanent placements increased but at a slower pace
  • Salaries continue to rise in April
  • However, the availability of permanent candidates continues to reduce

Slowest increase in permanent placements since Sept 2016

The number of permanent placements increased across the UK, though at its slowest pace for seven months. The strongest pace of expansion was in the Midlands, with the slowest in London.

Supply of candidates drops sharply

A drop in job seekers for permanent positions has seen the availability of candidates continue to reduce at its quickest pace for 16 months, with most markedly in the South.

Salaries continue to increase

Salaries for permanent staff continued to rise but at a slower pace to previous months. The highest increase has been seen in the South, followed by Scotland and the Midlands. The demand for quality staff and competition for skilled candidates has driven salaries higher.

Demand for staff remains sharp

There is a strong demand for permanent staff and vacancies continued to rise considerably throughout April.

Commentary : Demand for staff is growing within all sectors and all regions of the UK, but there are fewer and fewer people available to fill the vacancies. The UK ha the lowest unemployment rate since 2005, and people already in work are becoming more hesitant about moving jobs amid Brexit uncertainty. Meanwhile, the weakening pound and lack of clarity about future immigration rules is putting off some EU nationals from taking up roles in the UK.

As a result, candidate availability is at a 16-month low and there is a  shortage of suitable applicants for a variety of  roles. Every shortage has wider implications, for example the exceptional reputation UK engineering enjoys globally is at risk because employers can’t find people with the skills they need.

One thing is for certain, if British business is to thrive then whichever party forms a government after 8 June needs to address the ever-shrinking pool of suitable candidates by investing in skills and career advice for UK jobseekers, as well as safeguarding access to the workers we need from abroad. It is vital that the future immigration system is agile enough to reflect and adapt to evolving labour market needs.

 

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