An inevitable eventuality of the improving economy is an increase in demand for skilled people; and a resultant shortage of good people available on the “open job market”.
So – ask yourself this. As the economy improves, can recruitment agencies, CV websites and advertising really find you the skilled people you desperately need for your business to survive and grow? More and more we are finding the answer to this question is “no”.
According to a recent report, salaries are rising at their fastest pace in 7 years as companies fight for skilled workers.
The respected REC/KPMG Report on Jobs recorded a reading of 64.7 on its pay pressure measure, a rise of 2.5 and the highest level since July 2007. A reading above 50 on the index signals salaries are rising and below 50 indicates they are falling.
Bernard Brown, head of business services at KPMG, said that the data showed companies battling to attract staff with the abilities they need. “It’s not a real surprise that wages are rising so quickly with the economy in as a good position as it could be,” he said. “Think about where we have come from, out of a serious recession, that saw a lot of skilled jobs diminished. “Now the vacancies are coming back and there are fewer people out there with the skills to fill them.”
The situation is being exacerbated by the number of candidates on the “active job market” for permanent positions falling to a almost 10-year low, dropping 0.4 in April from the reading of 38 the previous month. The report found that engineers were the profession most in demand, rising from seventh place in the same month a year ago. “This reflects the very, very strong demand for UK-made products and services,” Mr Brown said. “Companies are almost in ‘catch-up mode’ to meet demand.”
The survey, which collates its data from a panel of 400 recruitment and employment consultancies, discovered the nursing/medical/care sector was second most called for, rising one place on last year, followed by accounting and financial, which dropped a position.
Kevin Green, REC chief executive, said: “Recruiters continue to place more people in work as the jobs market accelerates. However, the jobs market could be jeopardised with thousands of employers not able to find the skills and talent they need to meet increasing demand. “The number of candidates available to fill jobs is falling at its fastest rate in a decade. In response to this employers are bumping up starting salaries to entice workers they need to join them.
Wynne Consulting find people by networking and pro-actively approaching the 95% of people who aren’t on the “open job market”. This is the massive pool of talent that aren’t talking to recruitment agencies, applying to job adverts or placing their CV’s on CV Websites.
Our highly tailored search methods allow us to consistently find these top quality management, commercial and technical people in “candidate short” markets where the battle to hire the most talented people is most fierce. Search recruitment work where recruitment agencies, CV Websites and advertising fails.