Employment Forecast: Quarter 2
- by Lydia Baxter
- 1 Jul 2018
Growing confidence in the UK Labour Market is increasing operational placements in the HR and Support space. These increases have been seen throughout permanent and temporary vacancies in Q2. Currently, permanent placements are experiencing a softer rise compared to the steeper increase in temporary vacancies during Summer. Demand for highly talented professionals within the Support and HR space has spiked and continues to heighten the starting salary for top-tier candidates.
Growth Initiatives Boost Candidate Demand
Client confidence in the UK business market has boosted investment across London industries. Demand in the Operational Space has increased due to investment in business growth initiatives throughout Office Support, HR, and Core Operational roles. This growing strength in the UK economy is providing shareholders with positive projections for businesses and further supporting their investment in key growth initiatives for commercial operational roles at the centre of organisations.
Permanent staff vacancies have continually risen for 22 months, and is projected to increase steadily for the remainder of 2018. Recruitment agencies are registering the highest increase in temp billings for 5 months, which is forecasted to continue.
Top Talent Pools for Operational Staff Decrease
Overall, candidate availability is declining due to the increasing number of hires snapping up the top talent within the operational space. Talent pools are decreasing in the following positions:
- Personal Assistant
- Office Managers
- Project Managers
- UI and UX Designers
The steepest decrease in talented professionals is found in London. Businesses have increasingly grown for 5 years, resulting in a decrease of available professionals. As shareholder engagement with UK businesses boost, 50% of employer’s express concerns over sufficient availability of top permanent hires in operational support.
Higher Salaries Awarded at Offer Stage
The latest survey data indicates an accelerated rise in starting salaries. According to REC panel members, a lack of highly qualified candidates is driving up May salary offers circa. £3,700 across the market. This increase is also noted in short-term payment due to the higher demand for workers and low temporary staff availability.
To read more, please visit the REC: https://www.rec.uk.com/news-and-policy/press-releases