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Data reveals a shift in balance of power between employers and employees 

New research reveals a significant decrease of 17% in job postings during the first half of 2023 compared to the previous year. Over the same period, there has been a steep 29% rise in job applications – suggesting a shift in the balance of power between employers and employees.

The data, conducted by Reed.co.uk, reveals the drop in job postings reflects the ongoing economic challenges businesses faced in the first half of 2023. However, some sectors are growing – despite the uncertain landscape. The Motoring and Automotive sector experienced a surge of 63% in job postings, followed closely by the Energy sector with a 47% increase.

On the flip side, the Hospitality and Catering sector experienced a steep decline of 41% in job postings, whilst the Social Care sector experienced a 39% drop – highlighting the stark challenges these industries face. The IT and Telecoms sector experienced the highest surge in applications, with a healthy increase of 72%, while the Education sector also experienced a rise of 60%.  

The Training sector experienced a notable decline of 34% in applications, followed by the Fast Moving Consumer Goods (FMCG) sector with a decrease of 12% – highlighting more can be done to bridge the gap between job seekers and available opportunities.

Average salary offerings, across every sector, rose in the first half of 2023, compared to last year. Sectors witnessing the greatest rise include; FMCG (20.8%), Charity and Voluntary (14.5%), Manufacturing (10.6%) and Customer Service (10.1%).  Meanwhile, roles in the Scientific, Financial Services and Human Resource sectors experienced the lowest year-on-year growth in average salary offerings — 2.1%, 2.1 % and 0.5% – falling far below the rate of inflation over that same period.  

Northern Ireland emerged as the most resilient area, with a 3% boost in job postings, potentially a sign of increased business confidence compared to all regions in England, which experienced a decline in job postings ranging from 15-18%, with London, experiencing the largest drop at 18%.

North West England and Yorkshire saw a significant boost in job applications – an increase of 34% and 35% – demonstrating potential growth avenues for businesses wanting to level up.

James Reed, Chairman of Reed, said: “The significant drop in job postings, coupled with the surge in job applications, indicates that a radical shift in the employment landscape is underway — as we move from a ‘sellers’ to a ‘buyers’ market for talent. This likely marks the end of the candidate-led labour market that emerged post-pandemic, as the balance of power tilts back towards employers.”

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Administrative and support industry reported a 12.66% rise in weekly wages

In the continuous war for talent, it’s important for TA teams to ensure they’re paying market-related salaries in order to attract the right talent for their organisations. When workforce planning, TA teams should be sure to investigate what competitors in their industries are paying to be able to compete for good candidates.

In a recent study conducted by UK trading platform CMC Markets has found that the mining and quarrying industry has seen the largest increase in wages among all UK industries between January 2022 and January 2023.

The study analysed data from the Office for National Statistics’ Wages and Salaries Survey since January 2000. The average weekly earnings in the mining and quarrying industry rose by 12.95% over one year, from £1,203 to £1,382.

The administrative and support service activities industry comes in second, with a 12.66% increase in weekly earnings from £490 to £561. The professional, scientific & technical Activities industry takes third place, with an increase in average weekly earnings from £854 to £940, a percentage change of 9.15%.

The manufacturing industry for chemicals and man-made fibres and the education industry round out the top five, with weekly earnings increasing by 8% and 7.4%, respectively, between January 2022 and January 2023.

Michael Hewson, CMC Markets Chief Market Analyst commented: “This list is varied in terms of industries, showing that wages are rising steadily in many lines of work in the UK. However, with this data essentially summarising an entire industry as the data is across multiple industries, it will be interesting to see how wages have increased in the top and bottom end of these industries, especially with strikes occurring in many of them, including education, due to pay disparity and unsuitable wages.”
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Australian court rules on holiday work requests.

The Federal Court in Australia has recently made a ruling in an appeal case, which stated that employers are only allowed to request, but not require, their employees to work on public holidays. This decision was reached in the case of ‘Construction, Forestry, Maritime, Mining and Energy Union v OS MCAP Pty Ltd [2023] FCAFC 51’, which involved the mining company BHP’s labor hire provider, OS MCAP, and their contract which stated that employees may be required to work on public holidays without any additional pay.

This ruling is expected to impact other industries such as aviation, logistics, and hospitality. The case involved 85 employees who worked on Christmas Day and Boxing Day in 2019 at the Daunia Mine in central Queensland, without receiving any extra pay. The Construction, Forestry, Maritime, Mining and Energy Union argued that by imposing a requirement for these employees to work on public holidays, OS MCAP contravened the National Employment Standards and the Fair Work Act.

Section 114 of the Fair Work Act 2009 affords employees the right to refuse to work on public holidays, unless it is reasonable to do so. However, OS MCAP did not request their employees to work on those days nor did they communicate that employees had the right to refuse to work on public holidays. As a result, the labor hire provider will have to pay penalties, the amount of which has not yet been determined.

The decision is likely to affect any employer who operates on a roster that includes work on public holidays. According to Australian law firm HWL Ebsworth, all employees who work on rosters that would ordinarily fall on public holidays must be explicitly “requested” to work and can refuse the request if it is not reasonable. The ruling could also result in civil penalties for employers who automatically roster their employees on public holidays.

However, employers can still require employees to work on public holidays if their refusal is deemed unreasonable given the nature of the work, reasonable employer expectations, the type of employment, the amount of notice provided, and the level of pay. Employers are still able to have rosters that include public holidays as long as they ensure that employees understand that the roster is in draft and that they have the right to indicate whether they accept or refuse the allocation for holiday work.

BHP is currently reviewing the decision and considering appeal options.

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Talent Solutions

The gala awards ceremony will take place on 21 September in London

More than 20 distinguished experts from the talent acquisition industry convened on Thursday, 10 August, for a day of intense deliberation and spirited discussions – the TIARA Talent Solutions Awards judging day! The occasion marked the judging of the prestigious TIARA Talent Solutions Awards, where the industry’s best were determined across 11 distinct categories, culminating in the crowning of the much-coveted title of Talent Solutions Provider of the Year.

Throughout the day, the venue hummed with lively debates and exchanges of insights as the panel of judges, comprising leading figures in the talent acquisition field, pored over submissions and deliberated to determine the most deserving winners.

A full roster of the esteemed judging panel can be found on the official awards website. The judges showcase the collective experience and expertise that underpinned the decision-making process. The inclusion of a diverse array of perspectives ensured a comprehensive evaluation of the finalists and reflected the industry’s commitment to recognising excellence across various dimensions of talent solutions.

Winners will be announced at a grand awards ceremony scheduled to take place at the splendid Pan Pacific London on Thursday, 21 September. The event promises to be a celebration of innovation, dedication, and achievement in the realm of talent acquisition.

Tickets for the awards ceremony are available for purchase on the official website, providing an opportunity to join the industry’s luminaries in celebrating excellence in talent solutions.

For those seeking to stay updated on the event and the latest developments, the official awards website will serve as a reliable source of information and news. As the countdown begins to the glittering awards night, the anticipation and excitement continue to build among the talent acquisition community.

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The Awards ceremony will be held at the stunning Pan Pacific Hotel in London

TALiNT Partners has announced the finalists for the prestigious 2023 TIARA Talent Solutions Awards Europe. These awards aim to recognise the top companies in the RPO, MSP, and Talent Solutions market.

The event has gained significant recognition as the industry benchmark, attracting both previous finalists and new entrants. This year’s nominations showcase the sector’s continued growth and dynamism despite the challenges faced.

Ken Brotherston, Chief Executive of TALiNT Partners, expressed his delight at the engagement from industry leaders, saying, “In what has been a more challenging year, more than ever our Awards are a true celebration across the market, from the global majors, regional leaders, fast-growing scale-ups, and niche providers, all demonstrating excellence in their impact for employers and their own employees.”

The shortlisted entries will now advance to the next round of judging, where a distinguished panel of HR and Talent Acquisition experts will independently score each finalist. In a few weeks, the judges will convene to discuss and determine the winners across the 11 categories, including the prestigious Talent Solutions Provider of the Year award.

The winners, including the recipient of the highly coveted Lifetime Achievement Award, will be unveiled at the black-tie awards ceremony on Thursday, 21st of September. The event will take place at the stunning Pan Pacific Hotel in London, adding glamour to the celebration.

The 2023 awards campaign is supported by headline partner Cornerstone and sponsored by Amdaris, Giant Group, Parasol, Sonovate, and Stratigens. Their contribution to the event highlights the importance of collaboration in recognising excellence within the talent solutions industry.

For the full list of Talent Solutions Europe 2023 finalists, interested individuals can click here.

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The Lifetime Achievement Award was awarded to Sue Marks, Founder of Cielo

On June 8, TALiNT Partners announced the winners of the 2023 TIARA Talent Solutions Awards US at a spectacular gala dinner at the beautiful Georgia Aquarium, attended by CEO’s, Marketing Directors, and senior leaders of the nation’s top RPO, MSP talent solutions providers. Guests weren’t limited to people however, as the large fish tank created a beautiful and original backdrop to the Awards proceedings!

“Having previously delivered these awards virtually, it was fantastic to see so many different organizations come together in person to showcase the ever-growing range of finalists, which is a clear demonstration of the health and vitality of the talent solutions sector” said Ray Culver, Country Manager Americas, TALiNT Partners.

The TIARA Talent Solutions Awards US 2023 campaign was supported by headline sponsor Cornerstone and awards sponsors Beeline, Dasro, IMCS Group, Omni Inclusive, Scoutlogic, TalentNet and TekWissen.

Sevenstep were crowned the overall winner and received the Talent Solutions Provider of the Year Award, having also picked up The Scoutlogic Client Service Award and The Best Talent Solutions Firm To Work For award.

The awards evening also saw the presentation of a very special award – The Lifetime Achievement Award, which was presented to Sue Marks, Founder of Cielo Talent. “Sue has incredible strategic vision, and, from the very beginning, she understood how important technology would be in delivering a scalable service to her clients. Approaches that we take for granted now were game changing back then – especially using deep analysis to create a solutions-based, systemic approach to driving better outcomes for her clients and candidates” said Ken Brotherston, Chief Executive, TALiNT Partners.

The full list of Talent Solutions Awards 2023 winners and highly commended companies can be found here.

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TALiNT Partners and Stratigens are proud to announce a strategic partnership which will provide an unparalleled range of talent intelligence solutions to the needs of our members, partners and clients.

Alison Ettridge, CEO of Stratigens said “Companies do research on their customers, their markets and their competitors to inform decisions all the time. With Stratigens, they can now do research on the greatest asset –access to the workforce and people they need to deliver their strategy. Our partnership with TALiNT Partners will support our mission of putting human capital at the heart of business decision making. We are really excited about working with the team to overlay the insight that TALiNT Partners’ network brings with labour market data to empower HR, TA and business leaders to make critical strategic decisions.”

Ken Brotherston, CEO of TALiNT Partners added “for some time we have been looking for a partner to support the insight generated by our network with global workplace data to bring a unique offering to the market. Stratigens is the perfect partner to help us achieve this and together we look forward to continuing to help raise capability in how employers find and keep the people they need, and how staffing and talent solutions providers can better support their clients.”

About Stratigens

Stratigens software is helping the world’s best companies make smarter decisions about where to grow, who to hire from and the diversity of their workforce. We join the dots between the labour market, economics and locations. Putting human capital intelligence at the heart of decision making.

We live in a world rich with skills and geo economic data, but the data is messy, unstructured, big and in thousands of places. Stratigens uses the latest in machine learning and big data to gather, extract, categorise and label the data, and put it into a format that’s easy to digest. So our clients can make smarter, faster, more informed decisions.

Stratigens – https://www.stratigens.com

About TALiNT Partners

TALiNT Partners connects the talent ecosystem. We bring together a global network of leading employers and solution providers to make better talent and technology decisions. Providing intelligence, insight and peer-to-peer networking that drives quality, innovation and improves inclusion across the talent ecosystem

TALiNT Partners – https://talintpartners.com/

 

If you would like to know more about the partnership, please contact Ken Brotherston, CEO of TALiNT Partners, ken@talintpartners.com

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