Joanne Caine, Chamber board director and managing director of Cathedral Appointments shines a light on the recruitment sector in 2022.
New year, new job? We hear the same phrase year on year, but with the continued concerns over inflation, the ever-changing landscape of coronavirus restrictions and talent shortages, has the usual ‘new year, new job’ mentality and the annual great resignation rush taken a hiatus this year?
We think not! Last, year (2021), the UK jobs market went bonkers with vacancy levels in November doubling what they were the prior year. This January hasn’t really slowed at all and the demand for talent is still exceptionally high as employers endeavour to press ahead with hiring plans.
Locally the labour market is a real challenge with the pool of available labour very tight and employees reluctant to change job whilst the uncertainty remains. Employers are having to flex requirements to include remote working, training opportunities and hiring temporary workers. The demand for talent has led to an increase in starting salary levels: some companies have offered unprecedented salaries with average earnings shooting up by 8.8 per cent in the three months to June 2021, in comparison to the same period the year before, in order to retain key talent following resignations. Employers are having to consider more than just salary though, as company culture, development opportunities as well as flexible and enticing benefits are key.
The Tech sector however continues to rise on an upward trajectory with the demand for tech specialists increasing by 42 per cent in June 2021, compared to June 2019, and investment in UK tech reached a record $18bn, the highest in Europe. With technology, IT infrastructure and data rapidly becoming integral assets of the effective and efficient day-to-day workings of all businesses up and down the country, the number of job vacancies are reflected in the number of vacancies we see in the sector today.
We have seen quite a bit of job movement so far already this year and most of this has been in middle management and support roles rather than at the executive end of the market which has remained relatively static. Staff shortages are still prevalent across healthcare, blue collar, construction and engineering, and accountants, HR and legal professionals are highly sought after.
If you are looking to make a change in your career or take that next step up the ladder, now is an amazing time to dip your toe into the jobs market as there are an abundance of opportunities to choose from. Today in the travel to work area there are c8.7k vacancies and these are across a variety of sectors. In addition to this, many companies are advertising vacancies on their websites, so if you have your eye on a particular company, a direct approach is also something to consider.
Joanne Caine, managing director of Cathedral Appointments.