Tag: REED

Employers rigid in hiring criteria despite skills gap 

Over half of employers (60%) are receiving more applications from candidates who have come from different industries new research by Reed.co.uk has revealed.  

The commissioned researched canvased over 250 hiring decision-makers across the UK and reflected an increasing awareness of transferable skills with an appetite for reskilling among jobseekers. The news comes after Reed.co.uk reported 140,000 courses were purchased in the first half of November – a 786% rise year-on-year – as workers reevaluate their skillset in light of the pandemic.  

Some employers remain rigid in their requirements of applicants, despite this wider range of talent that has become available to businesses with over half (60%) of hiring decision-makers still feeling it is important for applicants to have a university education, which immediately limits the size of their candidate pool.  

Hiring managers within the Construction and Technology sectors – who report more labour shortages than those from any other industries in the survey – are also the most likely to believe a university education is important for candidates. Whereas employers in ‘real estate’ (17%) and ‘creative industries’ (33%) placed the least importance on applicants having a university education. 

Alongside a university education, the research showed that employers add much value to soft skills, such as teamwork and interpersonal skills, as a result of the shift to remote working with two-thirds (64%) of hiring decision-makers in agreement. 

While a university education and soft skills are desirable for a candidate, some employers may need to become more flexible about their expectations, especially as over half (55%) of the businesses surveyed reporting labour shortages.  

Simon Wingate, Managing Director of Reed.co.uk, commented on the findings: “It’s encouraging to see that many workers are already learning new skills to improve their career opportunities. However, employers should be more flexible when it comes to hiring, by looking at workers who haven’t got qualifications but who are willing to learn and have useful transferable skills for a modern working environment. By sticking to a rigid, old-fashioned approach to recruiting, you could be discarding talent that could help fuel your growth plans in 2022.” 

Share this article on social media

But will Omicron undo gains made in the economy?  

According to the latest unemployment stats released by ONS, there were 29.4m employees in the UK. This is an increase of 257,000 on revised October 2021 figures and up 424,000 on pre-pandemic February 2020 figures.

However, ONS stated that redundancies made at the end of the furlough scheme could be included in the Real Time Information (RTI) data for a few more months. But responses to the business survey, stated that redundancy numbers are likely to be a small number of those employees still on furlough at the end of September.

The latest Labour Force Survey indicates that employment rose by 0.2 percentage points from August to October with the number of part-time workers decreasing dramatically during the pandemic.

Decreasing employment rates among young people (those aged 16 to 24 years) have been notable during the pandemic, with unemployment and economic inactivity rates increasing by more than for those aged 25 years and over. But according to the survey, there was an increase in the employment rate and a decrease in the unemployment rate to below pre-coronavirus rates.

Numbers of job vacancies continued to rise to a new record of 1,219m jobs – that is an astounding increase of 434,500 from pre-COVID figures of January to March of 2020.

Neil Carberry, Chief Executive of the Recruitment & Employment Confederation (REC), commented: “The issue of labour shortages is hugely challenging for employers right now, as vacancies continue to hit new highs and unemployment remains low. But the real elephant in the room is rising inactivity and a smaller UK workforce – people either not in the UK or not looking for work. Reflecting this, overall hours worked are still well below our pre-pandemic numbers. This is a huge challenge to business and government. New approaches to recruitment and workforce planning are needed – and genuine partnership between government and employers on skills, unemployment support and sensible immigration rules.

“We don’t know yet how the Omicron variant will affect the jobs market, but it is clear that supporting businesses to retain staff and maintain cashflow was a successful strategy in 2020, and we may need to dust off those plans again if we are headed for a longer period of restrictions.”

James Reed, chairman of Reed, also commented: “There’s been plenty of talk from doomsayers that the Omicron variant will plunge us back into economic despair, but the outlook appears much more optimistic now compared with the first COVID-19 wave we faced in March 2020.”

He continued: “While some may want you to think the omicron variant has tipped the battle against COVID-19 in the virus’s favour, the reality is that, according to our jobs data, there are better opportunities and better negotiations for workers to have with employers than ever before. It’s currently the best time in fifty years to look for a new job and I’d urge anyone thinking of a change in career to begin their search for a fresh start in the new year.”

Share this article on social media

Trinnovo Group the biggest winner of the night!

On Wednesday 20th October winners of the 2021 TIARA Recruitment Awards were revealed at a Gala Dinner for 450 guests at The Brewery in London, attended by CEOs and senior executives from the UK’s top 500 recruiters.

“Resilience is a fitting theme for the 2021 TIARA Recruitment Awards,” said Alex Evans, Programme Director TALiNT Partners. “The COVID-19 crisis hit the staffing sector hard in 2020, but those best able to optimise their talent, technology, and brand have taken advantage of new ways of working and competing for market leadership. This year’s winners are the champions of change that the industry needs to adapt and prosper to a constantly evolving talent market.”

This year’s Chair of Judges was leading human capital dealmaker Katie Folwell-Davies, Investment Director of Twenty 20 Capital. Commenting on this year’s finalists, she said: “Those companies that stood out for me were those that had invested through the pandemic – in headcount and technology – and had been able to demonstrate through their KPIs and their numbers the growth that was going to come from that investment.”

Jason Martin, Head of Strategy at Access Recruitment – headline partner of the TIARA Recruitment Awards – judged categories including the Best Recruitment Company to Work For and Recruitment Leader of the Year. “What has stood out in recent years, but even more so this year, was the focus on D&I and L&D,” he said. “I have really been impressed by the lengths that recruiters have gone to to invest in their people and the technology to support that. Those businesses have come out of lockdowns in the best shape to succeed over the next year.”

Trinnovo Group was the biggest winner of the night, taking the awards for Growth Recruitment Company of the Year, Best Recruitment Company to Work For with revenues between £20m and £50m, and Recruitment Leader of the Year for its founder and chairperson Ashley Lawrence.

Reed Global chairman James Reed was inducted into the TIARA Hall of Fame for his successful international expansion of Reed, spearheading the Keep Britain Working campaign in 2020, and for being a high-profile champion of the recruitment sector and its economic contribution.

The 2021 TIARA Recruitment Awards campaign was supported by headline partner Access Recruitment and supporting sponsors including: 6Cats International, Blackwood Capital, Clearwater International, Fore:Two Group, Gambit Corporate Finance, Grant Thornton, Mercury, Mishcon de Reya, Odro, Parasol Group, PurePro, Saffery Champness, Sonovate, Twenty20 Capital  and VacancySoft.

The full list of TIARA Recruitment Award winners and highly commended finalists is as follows:

The Saffery Champness Hall of Fame Award

  • Winner: James Reed, Chairman, Reed Global

The PurePro Back Office Team of the Year

  • Winner: NRL

The Sonovate Client Service Award

  • Winner: Sigmar Recruitment

The Access Group Tech Transformation Award

  • Winner: Advantage Resourcing
  • Highly Commended: Omni

The Fore:Two Group Candidate Service Award

  • Winner: ersg

The Blackwood Capital Diversity & Inclusion Award

  • Winner: Goodman Masson
  • Highly Commended: Trinnovo Group

The Odro Innovation Award

  • Winner: La Fosse Associates

The VacancySoft Marketing Campaign of the Year

  • Winner: Signify Technology

The Clearwater Growth Recruitment Company of the Year

  • Winner: Trinnovo Group

The 6Cats International Recruitment Company of the Year

  • Winner: NES Fircroft

The Grant Thornton Specialist Recruitment Company of the Year

  • Winner: Signify Technology
  • Highly Commended: NHS Professionals

The Parasol Group Temporary Recruitment Company of the Year

  • Winner: TFS Healthcare

The Mercury Best Recruitment Company to work for (£5m to £20m)

  • Winner: The Barton Partnership
  • Highly Commended: Xpertise Recruitment

The Twenty20 Capital Best Recruitment Company to work for (£20m – £50m)

  • Winner: Trinnovo Group
  • Highly Commended: JCW Group

The Gambit Best Recruitment Company to Work For (£50m+)

  • Winner: Amoria Bond

The Mishcon de Reya Recruitment Leader of the Year

Winner: Ashley Lawrence, Chairperson, Trinnovo Group

Share this article on social media

Over half of employees feel undervalued

Research released by Firstup, a digital employee experience company, revealed that employees are unhappier in the workplace now more than ever post-pandemic. The survey showed a mounting dissatisfaction among employees across the UK, US, Germany, Benelux and the Nordics, with talent feeling undervalued, uninformed, and un-unified.

Lack of communication from leadership was cited as a main contributing factor to unhappy employees with almost a quarter of respondents to the survey agreeing that better communication will lead to increased productivity and work satisfaction.

Nicole Alvino, founder and CSO of Firstup, said: “Businesses need to provide more valuable working experiences or remain responsible for the career reboot of the decade that some are calling The Great Resignation of 2021. This research is a clear and urgent call to action – an organisation’s employees are its most valuable asset with employee satisfaction having a direct impact on the bottom line. Business, HR and Internal Comms leaders must act now to stem this workforce dissatisfaction and engage their teams with personalised information that helps them do their best work.”

Research from the 23,105 workers found that 56% don’t feel valued in their role and 38% want employers to ‘create better lines of communication between executives and employees’.

It appears that remote workers seem to feel these complaints most keenly, with a growing tension between desk based and deskless workers. It found that 25% of respondents felt they get more attention from their employer when they are physically at the office, only 30% of deskless workers think that their employers listen to them, and 39% of desk-based workers felt that their deskless colleagues could learn from them about ‘how to communicate with colleagues and ‘how to work as a team’.

The great temptation

This comes off the back of research from Reed.co.uk which found that almost three-quarters of Britains are actively looking for a new job or are open to opportunities. The survey, which canvassed 2,000 employers attempting to attract new talent and retain restless employees, suggests that businesses will need to adapt their offering to align with new employee priorities that have been shaped by the pandemic.

Salaries remain a top driver with 39% of respondents stating that they would stay should their employer offer a high salary. Flexible working hours is also at the top of the list. Other suggested incentives from the survey included: more annual leave (25%), a promotion (21%), and 18% asked for increased training and development opportunities.

Commenting on the research, Simon Wingate, Managing Director of Reed.co.uk, said: “We are in the midst of a sea change in the labour market, with it very much having shifted from a buyers’ to a sellers’ market due to the sheer – and record-breaking – number of job opportunities available.

“After a challenging 18 months for jobseekers which gave rise to a culture of uncertainty in the labour market, workers are now mobilised by the prospect of new and exciting opportunities with better rewards. Employers must find creative solutions and adapt to the new market conditions following the pandemic in order to maintain the resurgent economy’s trajectory.”

Following LinkedIn’s recent research highlighting 6.8 times the number of recruitment roles posted on its site in June compared to the same time last year, is the Great Resignation spreading to the staffing sector?

“There is a lot of potential for ‘revenge resignation’ for all those who were put on furlough through successive lockdowns, in the wider economy but particularly in recruitment, but it’s less likely to impact employers who offer flexibility and authenticity with a client-centric culture,” said Tim Cook, Group CEO of nGage, who will be speaking on this topic at the World Leaders in Recruitment conference on 5th October.

Commenting on the growing debate about the Great Resignation, TALiNT Partners Managing Director, Ken Brotherston said: “In general it is always wise to treat dramatic headlines or simple phrases with a large pinch of salt. My general rule of thumb is this: does the person promoting the headline have an interest in it being true? If so, approach with caution.”

Share this article on social media

REED chairman urges 3 million furloughed employees to leave zombie firms

The latest ONS Labour Market estimates from February to April 2021 continue to show signs of recovery, with a quarterly increase in the employment rate of 0.2% to 75.2% and a quarterly decrease in the unemployment rate of 0.3% to 4.7%.

The number of payrolled employees has increased for the sixth consecutive month, up by 197,000 in May 2021 to 28.5 million – although this is 553,000 below pre-pandemic levels. The number of job vacancies in March to May 2021 was 758,000, only 27,000 below January to March 2020.

While annual growth in average employee pay has continued to increase, the ONS attributes this to a fall in the number and proportion of lower-paid employee jobs. Growth in average total pay (including bonuses) and regular pay (excluding bonuses) among employees was 5.6% for the three months February to April 2021.

Govt support still needed

Commenting on these latest figures, Neil Carberry, Chief Executive of the Recruitment & Employment Confederation, said: “This latest official data confirms the trends that surveys of businesses and recruiters have been telling us. The jobs market enjoyed a strong bounceback during the initial phases of unlocking.

“But with labour shortages across the economy, any delays in hiring could have serious consequences for the recovery. Now that there is a delay to the final stage of unlocking, employers need digital Right to Work checks to remain in place to help them place staff quickly and in line with public health guidance. Government must also extend the targeted support measures that have been in place alongside the restrictions.”

Tania Bowers, Legal Counsel and Head of Public Policy at the Association of Professional Staffing Companies (APSCo), said: “While the ONS data shows that we’re not yet back to pre-pandemic levels, the consistent increases are in line with our own data which showed that permanent vacancies in May were up 116% compared with the same time last year (up from 90% in April).

“However, when we look at who has been most effected by the decline in jobs during the pandemic, the fact that under 25-year-olds have been hit particularly hard is of concern for future skills development. Our members are already noticing a dearth of resources in highly skilled sectors particularly across STEM related roles. With employers already beginning to feel the impact of post-Brexit skill losses, committing to the training and development of talent both young and old will be crucial in helping the UK build back better.”

Jobs boom

Offering a perspective from the UK’s largest recruitment firm, James Reed, Chairman of REED, said: “The latest ONS employment figures do not begin to describe the ‘jobs boom’ that is now underway in the UK. This dramatic change has happened very quickly and will not be apparent from historic data. The talk now will be all about labour shortages, skills shortages and wage increases.

“The key questions are, how fast will the economy grow? And to what extent will progress be limited by labour market constraints? “Last month was reed.co.uk’s best month for job postings since February 2008 – before the last financial crash. Over 275,000 jobs went onto reed.co.uk in May, a 26% month-on-month increase and a 237% year-on-year increase.

“However, the recovery could be curtailed if staff shortages are not addressed urgently. The huge number of workers still on furlough – up to three million by the end of April – is at odds with a labour market which is now growing rapidly and facing a candidate deficit in certain sectors. As a result, we could see wage inflation, making it an ideal time for furloughed workers to depart zombie jobs and seek new opportunities elsewhere.”

Photo courtesy of Canva.com

Share this article on social media