Job vacancies rising at fastest pace since 1998

Despite its positive headline, the latest jobs report released on Friday (7th Feb) has been met with mixed reactions from industry professionals. Produced by the Recruitment and Employment Confederation (REC) in conjunction with KPMG LLP, the survey revealed that job vacancy numbers are rising at a 15 year high, with notable peaks in performance across a range of sectors.

Yet with many good news pieces, there is a downside, with declining availability of candidates and skills shortages becoming problematic for a number of industries. This subsequently raises concern for economic growth on the whole as businesses struggle to find and maintain the right workforce to make a meaningful contribution to recovery.

Interestingly, statements are now being made surrounding careers guidance - in particular, what sort of advice is currently being given versus what advice should be readily available.

Tom Hadley, director of policy at the REC, said: “Part of the solution is to develop a careers guidance network that is fit for purpose. People need to be made aware of the growing sectors and what skills will be needed in the future, they also need to be taught the mechanics of finding work.”

He added that job centres across the country needed support from local businesses and recruiters in order to equip their jobseekers with regionally relevant information and advice about what sort of jobs and careers there are in their area.

In the spirit of optimism, the team and I are focusing on the positives from the report, including the news that unemployment levels have fallen to their lowest in just under five years.

We will however heed the advice given by REC and its policymakers by continuing to actively support Peterborough’s economy and equipping our clients and candidates with expert, local knowledge. Our salary survey is one way in which we do this, providing local employers with incredibly useful data about pay and remuneration packages in their area.

Recent salary survey publications have demonstrated an upward trend in employer confidence, which is tentatively reflected in this newest report on jobs. Particularly pleasing are the further sharp rises in temporary billings –and with truly genuine benefits for both employer and employee we can see why.

All in all, a promising first report for 2014. Watch this space for further comments and updates…

2013 in review

As at the end of every year, the team here at ACR look to the media and to the industry’s professional bodies to see if their findings and forecasts match with what we have experienced in the past 12 months locally here in Cambridgeshire, as a good indication of what we can expect from 2014 both locally and nationally.

We have seen a steady growth in positive stats and figures coming from in-depth reports and surveys concerning employment levels undertaken by the Recruitment & Employment Confederation (REC) and the Chartered Institute of Personnel and Development (CIPD).

The REC’s end of year JobsOutlook survey shows that the number of employers planning to take on more permanent staff early next year is up nine per cent on 2012. Better news still for the temporary and flexible workforce, which benefits from a 17 per cent rise (to 47 per cent) in employer interest and engagement.

Confidence in the economy generally is also growing, with small businesses in particular demonstrating good faith. Many believe this is largely due to the changing attitudes in consumers and their increasing willingness to spend money, invest in a product and/or buy into a brand.

The Office of National Statistics also brings good tidings for the close of 2013, reporting the lowest level of unemployment in the UK for four years and the highest number of job vacancies for five years. Even more encouraging is the fact that the East of England reported the lowest unemployment rate of just 5.6 per cent compared to other areas.

This officially puts our county at the top of the employment ladder nationally. Having successfully placed many candidates this year, we are both delighted and unsurprised by this statistic. Locally, our employers are showing increased optimism in hiring new workers and keeping remuneratively competitive – as demonstrated by our salary survey results released in October.

All of the above can only mean good news for the world of recruitment as we get ready for the year ahead. January is always traditionally a busy time for jobseekers and agencies alike, but we will strive as ever to maintain and sustain the positive, confident and resolute attitude adopted by so many when a new year comes around.  

We would also like to take this opportunity to thank all of our clients and candidates for choosing to work with us in 2013, and look forward to doing so again next year.

Salary survey shows businesses are exercising caution

No news is good news, apparently, Certainly in the case of this year’s local Salary Survey that is the case.

Last year there was a levelling out of salary increments following two or three years of quite severe dips and troughs across different industries.

But this year’s Peterborough Local Market Survey, which we produce in partnership with specialist reward consultants PayData Ltd, shows a ‘cautious’ response to the economic conditions.

While a quarter of participants revealed they had frozen pay, the survey revealed an overall average 2.5 per cent rise in salaries over the past 12 months.

That suggests a plateau has been reached. Rather than companies trying to bring salary levels back in line or attract staff in certain areas, they now seem to be rewarding loyalty and hard work while keeping one eye on costs.

There are always the odd discrepancies in this type of survey. Advanced accounts clerks have notched up around 12 per cent extra in their pay packets while marketing assistants, IT assistants and production managers have noticed a small slip. But having studied the results, I suspect these blips could be more related to the shift in our sample. Some new businesses signed up to take part in this year’s salary which is always good news.

The survey is such a valuable benchmarking tool - one which has been part of the business landscape for 15 years – it is good to see the continuing involvement of some big names.

We are now working on the production of an interim report, concentrating on pay rises, to be produced in the new year. If you would like to take part do get in touch with us.

By participating in the full survey next year your company is entitled to see the entire results document. There is also the option to receive a comparison of your results against those of others.

Salary Survey 2012

The Salary Survey was one of the first ‘added value’ services we launched back in the early days of ACR. It is testament to its usefulness that it is still going strong 15 years later.

And the 2012 survey is being launched this week.

Our partners at Paydata Ltd are currently sending out the questionnaires to a number of companies in the region, big and small, from a wide range of sectors.

The data provided on the salary and benefits of hundreds of employees will be collated, analysed and used to produce a comprehensive snapshot of remuneration packages for use by recruiters and companies.

While the headline results will be published, participants will receive a detailed analysis enabling them to make a direct comparison with similar companies.

It’s this kind of information which is crucial for companies wanting to attract the very best candidates who will be looking for a competitive offer.

We have been working on this annual project with Paydata Ltd, another Peterborough company, for the last few years. They are national experts in the field so are able to see how Peterborough shapes up against other regions. Outside the public sector, they have reported seeing a modest rise in salaries across the UK so we shall wait to see if that is reflected locally.

It’s not too late to take part in this year’s survey. If you’d like further information, do get in touch.

Salary survey results revealed

* Guest blog from Nel Woolcott, Recruitment Partner

At last – some evidence to back up what we’ve been noticing over recent months. The results of our annual Local Market Salary Survey have been collated. And they show an average two per cent increase in wages over the past 12 months.

That may not sound a lot but bearing in mind last year’s survey revealed a 3.6 per cent downturn it’s definitely a reason to be cheerful.

The other significant thing to mention is the number of businesses which took part in this year’s survey – 32 – which is a third more than last year. The conclusion we’ve drawn from this is that companies are keen to buy in to key decision making tools, which is what we like to think the survey is.

Contributors receive detailed reports showing how their salary scales match up to other companies in the same sector. They provide the perfect benchmark when setting salary levels. This is now more important than ever as companies have to position themselves as employers of choice to attract the right candidates to lead them out of the recession.

We’ve noticed a sea change in candidates’ attitudes. With the slight upturn in the economy, candidates do now feel like they can pick and choose roles – certainly to a bigger extent than they could last year when it was a case of ‘any job’ rather than ‘that job’.

Employee retention is vital too – especially for those companies who were forced to shed jobs. They need to hold on to those who are left.

There were fluctuations in the results, as always, with secretarial and admin staff receiving the biggest rise – five per cent - on average. And, drilling down to specific roles - call centre advisers were the biggest winners with an average increase of 10.3 per cent.

To register an interest in taking part in next year’s survey please email us.