(Sector) demand for permanent staff
Demand for permanent staff persisted yet again in June, according to the latest Markit/REC Report on Jobs. With a job vacancy index of 63.0, proving to be a slight dip from May’s 63.6, the figure remained well above the neutral 50 – pointing to a further “sharp increase” in the number of staff sought after.
In terms of our sectors, there’s good news for IT and Accountancy professionals – who were among the most in-demand permanent staff across all UK industries in June. The latter sector ranked in second place immediately followed by the former. This reiterates our own findings here at Kingsley Hamilton People, as Sanna Jawad, Managing Director, explains: “Our current performance reflects market activity, with our teams placing more candidates in Accountancy & Finance and IT jobs than the same time last year.”
Indeed, the progress in IT sits in line with recent data published by the Association of Professional Staffing Companies (APSCo). The organisation announced that IT professionals are the most sought after within London; accounting for nearly 30% of all vacancies in the 24-month period to May 2017. Unsurprisingly, the welcome news for jobseekers follows not too long after reports of businesses around the world being subjected to a series of cyber attacks.
The number of job vacancies
With the above in mind, it’s only natural that the number of job vacancies reportedly rose although at a softer rate than in the previous month. This echoes recent figures from the Office for National Statistics (ONS), which revealed that vacancies increased by 3.3% on the year in the three months to May.
The number of people placed
Likewise, the number of people placed in permanent roles continued to increase but at a softer rate since May’s 25-month high. Recruitment businesses credited the ongoing growth to “robust demand for staff,” but acknowledged the dampening effects of “risk aversion linked to Brexit uncertainty and the general election.”
Candidate availability and starting salaries
The REC is quick to point out a decline in the availability of candidates to fill permanent roles in June – a pattern that’s been true since May 2013. This dip is inevitably accompanied by a skills shortage: notably in Accountancy (Audit, Accounts, and Finance), IT (Cyber Security, Developers, and CAD Designers), and Business Support (Personal Assistants, Receptionists, and Senior Administrators).
The flipside, however, comes in the form of starting salaries, which have risen at the fastest pace since November 2015. Yet again, this point of progress – in favour of jobseekers – demonstrates employer efforts to attract and retain staff in a highly competitive jobs market that shows no signs of easing.
Commenting on the findings, Tom Hadley, REC Director of Policy stressed: “Existing skills shortages are being exacerbated by Brexit. London alone employs almost 200,000 EU nationals [in Accountancy & Finance]. Policies which make it more difficult to recruit and retain these people will put business growth at risk. Investment in training the domestic workforce is vital to the long-term health of the jobs market.”
Whether you’re looking to change Accountancy or IT roles, Kingsley Hamilton People has got you covered. Alternatively, you can call 020 7078 0213 to discuss your next career move with our team of friendly expert recruitment consultants.