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Falling unemployment rates mean greater competition for talent!

A recent report into the state of UK Employment has highlighted some concerns that employers are facing when looking to take on new talent. With the risk of Brexit slowing down investment and also seeing EU workers leaving the country, this has led to a shortage of active job seekers and increased competition for places. Because of this, and also because UK employment is knocking on the door of full capacity, employers are needing to 'go the extra mile' to secure new workers. This translates as employers needing to offer employees higher starting salaries to fend off competition and also counter offers.

The Recruitment and Employment Confederation stated that its monthly survey revealed that starting salaries grew in October at the second quickest rate since November 2015, as employers in Britain are forced to increase their pay offers.

With the uncertainty of Brexit going forward, 2018 is looking likely to follow a similar path to 2017. Employers will need to be offering competitive salaries to new employees, but also move quickly to secure that talent, otherwise risk losing them to competitors. Our role as a recruitment agency to employers is now more important than ever, whereby securing the best talent from the current talent pool, and moving candidates through the process as quickly and as smoothly as possible will be needed when employers are wanting to secure the best candidate!

You can read the full report here

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