August news….Permanent placements rise at slower pace

Key market points:

  • Permanent placement growth softens to nine-month low…
  • Staff vacancies expand at quickest rate since last November
  • Decline in candidate availability eases, but remains historically sharp

Commentary

The rise in interest rates for only the second time in a decade may leave some people feeling the pinch. But a new job is one way people can ease the burden on their finances. With our data showing starting salaries continuing to rise, the latest official government figures suggest that we are finally seeing the effects of a tighter labour market feed through to pay.

Softer rise in permanent staff appointments…

Permanent placements continued to rise sharply in July, though the rate of expansion was the softest recorded since last October.

…as supply of candidates continues to drop markedly

A candidate shortages weighed on permanent recruitment. The supply of permanent candidates fell sharply in July, despite rates of decline easing to the weakest in three months.

Staff vacancies rise at quicker pace…

Demand for staff strengthened further in July, with overall job vacancies expanding at the quickest rate for eight months.

…maintaining upward pressure on pay

Low candidate availability and robust demand for staff led to a further steep increase in salaries awarded to permanent starters.

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June / July recruitment news….Candidate shortages remains sharp!

Candidate shortages contribute to slower rise in recruitment in June…

Key points from June:

  • Permanent placements continue to rise, but not as sharply as previous months
  • Candidate availability deteriorates at steeper pace
  • Robust demand for staff leads to further marked rises in pay

Commentary : It’s a great time for people looking to take the next step in their careers, as employers compete for new staff in a tight market. It’s a candidate’s market out there.

Across the majority of sectors, both temporary and permanent opportunities are growing, and a lack of candidates means it is no surprise to see starting pay also rising.

This high vacancy rate may be driven by good demand from companies not being matched by candidate willingness to move in the face of the current economic uncertainty.

Softer increase in recruitment…

Placements both continued to rise sharply in June, despite rates of expansion easing.

…as candidate availability falls at sharper rate

Lower candidate availability was cited as a factor hampering growth. Notably, permanent availability declined at sharper rates at the end of the second quarter.

Steeper increase in staff vacancies

Vacancies continued to rise sharply in June. Growth of demand for permanent staff edged up to a seven-month high, while short-term vacancies rose at a slower yet still strong rate.

Pay pressures remain historically marked

Salaries for permanent roles increased further in June, with the rate of inflation holding close to a three-year high…

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Market update: Salary inflation hits 31 month record!

Key Points

  • Strong rise in recruitment
  • Starting salary inflation hits 31-month record alongside lack of candidate availability;
  • Growth of demand for candidates declines slightly but still remains high.

Sharp Increase in Permanent Placements

Permanent placements have continued to rise each month for the past year-and-a-half. This growth has been linked to a greater demand for staff, although some panellists suggest that improved decision-making has also been a factor.

Increase in vacancies:

Overall demand has continued to rise in January.

Availability of Permanent Staff:

The number of available permanent candidates has continued to deteriorate in 2018. Key permanent staff skills reported in short supply includes paraplanners.

Higher Starting Salary Inflation:

Starting salaries for successful permanent candidates has increased at the fastest pace for over two-and-a-half years.

UK Unemployment Rate in Context:

The UK employment rate is at a four-decade low of 4.3% which is below the EU jobless rate of 7.3%. The jobless rates are higher in Austria (5.4%) and the Netherlands (4.4%), but lower in the US (4.1%), Germany (3.6%) and Japan (2.7%) in comparison to the UK.

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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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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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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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Growing demand for quality candidates

Growth in permanent placements…..

The key points from the March 2017 survey:

  • The demand for staff holds close to its strongest for 18 months with sustained growth in permanent placements
  • Salaries continue to increase..
  • However, the number of candidates available for permanent vacancies has reduced

Growth of permanent placements increases at softer pace

Latest data points to sustained growth in permanent placements during March. Although the pace of expansion eased from February’s one-year record, it was solid overall. Higher placements were generally linked to greater demand for staff and improved confidence in the market.

Supply of candidates drops markedly

The supply of permanent candidates continued to fall sharply in March, although the rate of reduction weakened slightly since February’s 13-month peak.  Around one-third of recruitment agencies reported lower availability.

Salary growth remains sharp

Permanent starting salaries continued to increase sharply in March, despite the rate of pay growth edging down slightly from an 11-month high in the previous month.  Shortage of staff and greater efforts to secure quality staff has placed upwards pressure on salaries. This is a good time for individuals prepared to move jobs, with generous pay offers on the table to secure the talent available.

Demand for staff holds close to 18-month peak

March saw a further steep increase in job vacancies across the UK, with growth of demand for staff holding close an 18month record. Permanent staff vacancies increased at a rate only fractionally slower than the previous month. Although permanent placements have hit a 12 month high, businesses across the UK are finding it increasingly difficult to recruit for permanent roles. The big question still remains about how employers will fill their vacancies.

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Changing employers is becoming a more attractive option for those looking for more money…

Growth in placements reaches one-year high

Key points from the February survey:

  • Permanent placements increase at quickest pace in one year…
  • Demand for staff reaches 18-month peak

Although permanent placements have hit a 12 month high, businesses across the UK are finding it increasingly difficult to recruit for permanent roles. The big question still remains about how employers will fill their vacancies.

There are  acute staff shortages in a variety of sectors, from healthcare to engineering. This is likely to get worse, especially if the Government continues to refuse the rights of EU citizens living in the UK post-Brexit.

On the flip-side, this is a good time for individuals prepared to move jobs, with bumper pay offers on the table as hirers compete to secure the talent available. In the context of rising inflation and stagnating pay growth, changing employers is becoming a more attractive option for those looking for more money.

Stronger growth of permanent staff placements

Growth in permanent placements picked up from January’s recent low to reach a one-year high in February.

Demand for staff reaches 18-month peak

Job vacancies continued to increase in February. Overall, demand for staff rose at the quickest rate in one-and-a-half years, with both permanent and temporary workers seeing faster increases.

Candidate availability declines at faster pace

The availability of staff to fill job vacancies declined sharply in February. Both permanent and short-term candidate supply deteriorated and to a greater extent than at the start of the year, with the former noting the steepest rate of reduction.

Sharper increase in salaries

Starting salaries for candidates placed into permanent roles increased at the quickest pace since March 2016 in February.

 

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Demand for staff still on the rise.

Employment law pic 2

Key points from the November survey:

  • Permanent placements increase at fastest rate since February
  • Sharper falls in the availability of both permanent and short-term staff

The jobs market is ending the year on a high with appointments and vacancies at levels not seen since February. In all parts of the UK there is an increasing demand, so clearly businesses continue to seek growth in their workforces. 

The main concern as we look forward to 2017 is an increasing skills shortage. The UK employment rate is at a record high and jobs are going unfilled in key areas. In the longer term, improving hiring and training of young people via apprenticeships will help to ensure that employers develop a pipeline of people

The main findings for November are:

Staff appointments rise at faster pace

Permanent staff placements continued to rise in November, with the rate of growth quickening to its sharpest since February. Temporary/contract staff appointments also rose at a quicker pace, with the rate of growth reaching a seven-month high.

Demand for staff remains robust

The latest survey pointed to further strong demand for staff..

Faster decline in candidate availability

The availability of staff for filling job vacancies continued to fall during November. Latest data pointed to the fastest decline in permanent staff availability for eight months, while temporary staff availability also dropped at a quicker rate.

Stronger rates of pay growth

The rate of growth in permanent starting salaries edged up to a six-month high in November. Short-term pay rates also continued to rise, and at the fastest rate since August

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Appointments rise again in September

 Headlines

  • Permanent placements and temp billings increase moderately

  • Solid growth of permanent salaries but temp pay at 40-month low

  • Slower decline in staff availability

There is further evidence that UK employers have shrugged off the initial shock of the referendum result. Overall, permanent hiring is in growth for the second consecutive month. Even more encouraging is the growth in vacancies; consumer confidence and strong demand on businesses has ensured that hirers are creating new jobs.

There remains a degree of caution in London, where permanent hiring has been on pause for the last five months. This is likely to be because of uncertainty around the longer-term impact of the referendum result within the financial sector in particular.

Permanent placements rise for second successive month…

September data showed a second straight monthly rise in permanent staff placement volumes, after the declines seen in June and July. Temporary/contract staff billings also rose, albeit at a slower pace compared with August’s three-month high. In both cases, rates of growth remained slight overall.

…supported by sharper increase in vacancies

Demand for staff continued to rise in September, with the pace of growth picking up to a three-month high. The strongest-performing category for permanent staff was Engineering.

Candidate availability falls, but at slower rate

The availability of staff to fill permanent roles continued to fall in September. Although remaining marked, the rate of decline eased to the slowest in almost three years. Similarly, temporary/contract staff availability deteriorated at a weaker pace.

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