Article 3 – March Jobs Report Asset Resourcing MD Ben Sweeting is a regular contributor to the monthly UK Jobs Report compiled and published by KPMG and the Recruitment & Employment Confederation (REC) and he has pinpointed two very interesting elements that have emerged, including a paradigm shift in the balance of power from employer to employee –
Employer confidence is growing strongly as we move deeper into 2014 and their thirst for new staff is at a 15½ year high. The UK construction industry is showing improving growth figures (as is manufacturing across the Eurozone) and as is common, when construction grows, other sectors will follow. Bernard Brown, Head of Business Services at KPMG (and one of the key compilers of the monthly report) essentially said that even though jobs are being created, there has been a decline in the number of people entering the jobs market. What appears to be happening more and more is that the preference for talented employees seems to be a ‘try before you buy’ mentality before committing to long-term or permanent roles. This shifts the balance of power back into the hands of the employee who can pick and choose where they want to work and for how long. This is most common in the TMT (telecoms, media and technology) industry but it seems other industries will follow.
With the escalating crisis in Russia and the Ukraine, global markets are ‘cautious’ so we’ll always suggest treading carefully and remain vigilant to business threats. Carrying on the vacancy theme, ONS data states that vacancies were up over 15% on an annual basis in the three months to December 2013 and importantly, internet-based recruitment spending rose by 9.0% in the third quarter of 2013, the sharpest increase for almost two years. As part of February’s report, all contributors (including Ben) were asked to specify areas in which they have encountered a skill shortage in the preceding month and the usual suspects are all represented – accountancy & financial, IT & tech, secretarial & clerical and blue collar & engineering. Perhaps the most notable inclusion in this list is ‘social media’. Businesses are now understanding the importance of social media and engaging with their clients and customers (as is evident by this newsletter, Asset Resourcing are embracing the world of social media) and we are confident in saying ‘watch this space’. Social media and content marketing is a vital component of any business’s marketing strategy and we think that niche industry sector is about to explode with more and more dedicated social media roles coming to the fore. We certainly are, but are you seeing more in-house social media or content marketing roles coming up? Let us know on Twitter @AssetResourcing.