This summer, figures show that skilled workers were so confident that they would get a job that they postponed their job hunt and went on holiday instead.
KPMG and REC conducted a survey which revealed that the demand for skilled workers is continuing to rise, but the availability of candidates for permanent roles fell by its sharpest decline for a year. In this candidate led market, many talented workers chose to go on holiday over the summer as they were so confident they would find jobs in September, after they returned.
This was of little comfort to any businesses needing staff to meet demand. It caused salary growth to remain strong and recruiters had to revise what they were willing to offer candidates.
Hannah Darby, a Consultant in our Office & Commercial Team, says “In a candidate led job market, companies need to consider offering more than just high salaries to attract and retain the best people. Employers need to be inventive to find new talented workers and a bespoke package of benefits, including flexible working, or one which can be tailored to suit the individual and their commitments, has become much more important.”
In fact, the report showed that companies are increasing the salaries for existing staff in an effort to retain them, not as an effort to recruit new workers.