With KPMG, the REC and Global Banking & Finance magazine releasing more information recently about the state of the recruitment industry pre and post Brexit, one thing is becoming clear. No one has any cast iron answers!
What we can do is look at some of the current evidence and recent history in the associated areas and try to piece them together to form some sort of ‘loose’ conclusion.
Firstly, the KPMG and REC market assessment via IHS Markit, paints a variable picture depending on private or public sector, permanent or temporary staff, geographical location and candidate availability possibly due to a reduced EU workforce.
If we also consider the considerable impact that the trade war between China and the US is already having on the global economy, making predictions appears a risky game. We only need to look to the Financial Times’ forecast for the past two years to see that the world is getting harder to predict.
Because of Brexit and the uncertain outlook, candidates are reluctant to jump ship or seek new paths as they have mortgages to pay and possibly mouths to feed. The over-riding feeling is to keep your head down, don’t make waves and keep the income ticking over.
The stats show all four of the monitored English regions bar the North of England registered lower permanent staff appointments in September and the slowest expansion of permanent vacancies since January 2012 with only slight increases seen in IT, Computing and Hotel & Catering.
The knock on effect of this is that candidates are in short supply and therefore that puts upward pressure on rates of pay with starting salaries rising sharply.
Recruiters are likely to be flooded with roles but potentially face difficulty in attracting passive candidates and the dichotomy created here means that it’s possible, with the ever-changing political landscape, companies are choosing to adopt a more short-term approach through hiring temporary staff until the economic outlook becomes clearer.
Commenting on the latest survey results, Neil Carberry, Recruitment & Employment Confederation Chief Executive, said:
“Businesses are positive about their own prospects, but ongoing Brexit uncertainty has led many firms to delay projects and hiring decisions. The UK’s vibrant temporary work market is playing an important role in helping employers to manage the ongoing uncertainty and job-seekers to find work.”
polkadotfrog has witnessed this temps growth and is perfectly placed geographically and professionally to address the changing situations utilising its in-depth local knowledge and business expertise to match candidates with industry for the best possible outcomes.
polkadotfrog Director Lucy Tufts said “Taking the consultative approach, spending time researching clients and candidates and following up placements has put us in a good position moving forward. We’re perfectly positioned to weather the storm as we’re a trusted supplier and partner.”
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