August recruitment industry survey results
The six weeks from mid-July to the end of August are usually a nightmare for recruitment companies. Clients tend to put off vacancies until after the summer break and good candidates are few and far between anyway – so the lack of vacancies is almost a mixed blessing.
This month has proved no different to the pattern as permanent placements and temp billings growth are both at 27-month lows and candidate availability falls at an even sharper rate. Salaries, however, continue to rise.
There was no respite for recruiters in August, who were left struggling to fill vacancies after a vast swathe of Britain’s job seekers appeared to take the summer off. The number of people looking for a job fell at the sharpest rate seen for a year, leaving unfilled posts across the economy. Many candidates may have simply shelved their plans for the summer, believing their prospects to be stronger in September. However this is of little comfort to those businesses needing staff now to meet demand for their goods and services.
This frustrating dynamic continues to have an inflationary effect on pay, which rose yet again in August. With candidates having their pick of the job market, companies need to offer more than just cash. In order to attract and retain the best people businesses need to offer a bespoke package of benefits, including flexible working, which can be tailored to suit the individual and their priorities and commitments.