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Labour Market Report: February
Posted In: UK Economy
Posted Date: 13/03/2017 15:10:23
Placements, Staff availability and Salary Trends
Permanent placements have picked up since January’s low point, reaching the quickest pace in a year. A number of panellists from the UK Labour Market Report put this down to higher business activity and increased demand for staff, which has rose at it’s quickest rate in eighteen months.
Unfortunately candidates (both permanent and temporary) availability declined sharply in February, and to a greater extent than January. This has however resulted in the fastest increase in starting salaries for candidates placed into permanent roles since March 2016.
Commenting on the these recent trends, REC Chief Executive Kevin Green says:
“This is a good time for individuals prepared to move jobs, with bumper pay offers on the table as hirers compete to secure the talent available. In the context of rising inflation and stagnating pay growth, changing employers is becoming a more attractive option for those looking for more money.”
Despite temp billings increasing at the slowest pace in four months, they did never the less continue the upward trend that has now continued for 46 months.
Building upon a trend that has been evident since last October, agencies based in the North of England saw the quickest increase in temp billings.
Salary increases for temp placements also increased – the rise was the second-fastest seen in nine months.
Our advice on how to fill your placements
Use increased salaries as a selling point:
Be honest with your candidates and explain that due to the increase in demand for skilled roles, salaries are increasing. Emphasise that now is the time to strive for that bigger pay check before more skilled workers emerge from education and the demand decreases.
From the moment a candidate expresses interest in a role, make sure you check in with them at various stages in the application and interview stage to see how they’re getting on and offer any advice or help you can give.
Looking for a new role can be a stressful task. Change is never easy, particularly when it involves high pressure situations like interviews. Knowing they can rely on your support will increase both the candidate’s engagement in the role and their chances of securing the position.
Even if their application or interview doesn’t go as well as they hoped, establishing that early relationship with a candidate will increase the chances of them contacting you in the future and/or recommending your services to other individuals with similar skillsets.
Make your LinkedIn Profile visible to right people
LinkedIn is becoming increasingly popular with both recruiters and job seekers. Make sure you do these things to ensure you find the right people and stay ahead of the competition:
Customise your url to your name to make it more searchable and use key words such as specific job titles and key skills in order to attract the right candidates.
Don’t underestimate the value of market research. Set a weekly or monthly target to check out the competition and see what keywords the recruiters with the largest networks are using.
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