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5 Reasons Brexit may not be killing the recruitment market

Posted on 6/03/2019 by Krishna Patel

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Let’s face it, no one knows what’s going to happen with Brexit and regardless of the outcome, we just have to ‘crack on’. And, what’s pleasing to see from a recent industry article (original source below) is that it would appear that is exactly what we are doing … just getting on with it.

1. UK salaries are rising

Although we are seeing the impact of Brexit on the supply of workers and the industry of talent acquisition, the starting salaries offered to candidates has seen a double digit increase during 2018.

2. Employment rates are at an all-time high

Despite previous experiences, where employment rates would stumble during times of uncertainty, this time around it seems that Brexit is having minimal impact on the number of working citizens. The Office of National Statistics revealed that 75.7%, the highest employment rate since 1970s when records first started, was achieved in 2018 between August and October.

3. Volume of vacancies are increasing

There are estimated 800,000 new jobs being advertised in the market currently, and the number of vacancies rising by 8.7% since last November.

4. Active candidates are set to go up

An estimated 32.53 million people are currently working and 70% of them are planning to actively look for new roles in the coming year. That’s a great confidence boost for the job market.

5. Good news for us - Recruiters are needed more than ever

Nine out of ten businesses admit their capacity to recruit, train and retain staff if being affected by Brexit already. With this being the current truth, it seems recruiters are needed more than ever; with their knowledge of workforce issues such as skill shortages, they can help equip in-house teams. REC announced the recruitment industry grew 11% in 2018 and estimated it to be worth £35.7 billion now… so clearly other industries see the value too.

Although the source of this article is focussed on the recruitment industry, it is indicative of the job market as a whole, across all sectors, and the remaining confidence that exists. Yes, you can still make that career move NOW, you don’t have to put it on hold. Yes, you can grow your business and headcount in line with your business plans and goals, that too does not have to be put on hold. There is still a ‘war on talent’ and the market is competitive but this is great news for ambitious candidates and hiring managers who are serious about their staffing ambitions and requirements.

Clients - If you’re struggling to source the right people for your business, please get in touch.

Candidates - If you’re thinking of making your next career move and wish to discuss the market and your individual options, please get in touch.

The future is bright … let’s keep it that way!

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