According to the latest Lloyds Bank East of England business activity index, April saw record recruitment levels demonstrating the strength of the region’s economy.
Business activity rose at its fastest rate in April, from March’s 58.2 to a near record high of 60.0 in April. Around 40% of respondents saw increased new business with higher demand coming from new client wins.
Whilst employment at private sector firms rose at record levels with 22% of the respondents increasing employment.
The East of England’s private sector is powering ahead at the start of the second quarter after a strong start to the year. Emma Cotton, Director of polkadotfrog says “2014 has been a record breaking year so far for polkadotfrog, we have noted a marked increase in the number of vacancies we are working on across all 3 of our branches in Cambridge, Ipswich and Norwich. The East of England has always weathered the storm better than other areas of the country but it really is now striding ahead, hopefully this will lead to exciting times for many local businesses”
With job vacancies and permanent placements up and a shortage of skilled candidates, salaries are inevitably rising too. With a focus on attracting talent with proven skills and track records employers need to be careful they don’t risk losing out on a generation of new talent; new entrants to the marketplace need to be strategically incorporated in to businesses growth strategies to ensure long term success.