As we approach the end of the year, it is important to take stock of the current recruitment marketplace to position ourselves where our businesses continue to grow with the most appropriate and suitable candidates.
Today’s figures emphasise how far we have come this year – it is certainly a great Christmas if you’re looking for a job. This is always the busiest part of the year for recruiters, but demand for new staff across Autumn has been exceptional here at Citrus Connect.
Read on for November recruitment highlights.
Key Stats – Data collected November 12-24 2021
- Hiring activity continues to expand strongly amid robust demand for workers
- Starting salary inflation hits fresh series high
- Candidate availability drops at slightly softer rate
Chart above payrolled employees
As recruiters, we are experiencing a sharp increase in hiring activity midway through the fourth quarter, this is supported by reports according to KPMG, REC and UK Report on Jobs Survey, with permanent placement growth quickening since October.
At the same time, there is a slower, but substantial drop in overall candidate supply. An imbalance between the supply and demand for workers has also led to further increases in starting pay.
Robust demand for workers and efforts to fill vacancies has driven a further strong increase in hiring activity during November. Permanent placements rose at a sharper rate than in October, the fifth-quickest on record, and one that continued to outpace that seen for temp billings. (REC)
Job ads hit an all time high in the run up to Christmas
The number of job vacancies in August to October 2021 continued to rise to a new record of 1,172,000, an increase of 388,000 from the pre-coronavirus pandemic January to March 2020 level, with 15 of the 18 industry sectors showing record highs. Both single month vacancies and Adzuna’s online job advert estimates reached record levels of vacancy numbers in October 2021. (REC)
- 210,000 new job adverts were posted in the UK last week, after three of the best weeks for new adverts on record – over 270,000 new adverts were posted in the first week of November
- There were 3.51 million active job adverts last week, another new record high as firms take longer to hire
- Five out of the UK’s top ten hiring hotspots were in Scotland last week, led by East Dunbartonshire
Because of this high demand, starting salaries and temp rates continue to rise, making it even more attractive to be looking for a new opportunity in 2022. Hiring companies will need to make sure they get their offer right – not just on pay – and take an inclusive approach if they are to avoid losing out. Relying on job boards to find your job or fill your vacancies could be the biggest pitfall you face.
Unless you position yourself, your business and your proposition correctly you run the risk of being drowned out by the crowd. It’s too early to tell what the effect of the Omicron variant might be on the labour market – December may be slower than previous months as its effects feed through. But the broader outlook is more positive for candidates, suggesting that the labour market will remain tight for some time to come. This will put a necessary focus on skills development and job and applicant positioning. These two issues will be critical ones for any business wanting to grow next year.
Despite what the Government restrictions will come our way this month, I feel this is an opportune time for me to wish you and your family a wonderful Christmas and New Year.
It is a time to celebrate our achievements despite global events. We worked hard, we worked diligently, we focussed, we continued to walk on ahead in the face of adversity and we came out the other end. It’s time to celebrate all the wins this year, the small ones, the big ones and the huge ones!
Personally for me, it has been the biggest growth year and would like to thank each and everyone of you for being part of the Citrus journey.
I look forward to supporting you in 2022 and beyond.