HR · 30 October 2018

Summer economic boost prompts UK recruitment drive

Job vacancies were up by 11.9% in the third quarter of this year

A summer boost to the economy has prompted British firms to heat up recruitment efforts.

The latest data from job site CV-Library revealed that job vacancies were up by 11.9% in the third quarter of this year. Salaries were also shining brighter increasing by 4.3% over the period.

CV-Library said businesses had been encouraged by the scorching summer’s economic boost to “keep driving forward with their hiring efforts.”

It added: “It’s clear that this hike in business confidence is starting to take effect, with candidate registrations in some of the UK’s key industries rising steadily over the past three months.”

The retail sector led the surge with 118,000 more candidates registered in the third quarter, this was followed by education up 22,700, accounting/finance up 22,600 and sales up 22,000.

In construction there were 21,900 more candidates registered – with engineering at 20,200, catering at 20,100 and IT at 16,800.

“Despite unemployment being at its lowest rate since 1975, employer confidence is stronger than ever. But, while more candidates are showing interest in a new job, application rates aren’t keeping pace,” said Lee Biggins, founder and managing director of CV-Library.

“If we hope to bridge the ongoing skills gap and start strengthening the UK workforce once more, organisations need to focus on targeting passive candidates and pulling out all the stops in order to attract the right people to their roles.”

Biggins said this included implementing referral schemes where employees are encouraged to recommend their friends or family members and boosting a firm’s ‘employer’ brand by being active on social media.

It also encouraged firms to work on their content strategy, to position themselves as industry leaders and to network with like-minded professionals.

Offering the most competitive packages is also important. Biggins said: “Most people stay in their job because it benefits their life in some way, so offering the best possible packages can attract candidates out of the safety of their current position.” 

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