The latest Report on Jobs from KPMG and the Recruitment and Employment Confederation (REC) has revealed that candidate availability has risen for the first time since February 2021 for both permanent and temporary roles. The report suggests that this increase is due to an improvement in the confidence of job seekers and a rise in redundancies. Additionally, starting pay has also increased for both permanent and temporary workers, which is often linked to skill shortages and cost-of-living pressures.
Increase in Candidate Availability
According to the latest report, there has been an increase in candidate availability for both permanent and temporary roles. This is the first time it has happened since February 2021. The increase is attributed to the improvement in job seekers’ confidence as they anticipate more job opportunities. The report also suggests that redundancies are contributing to the increase in candidate availability, as more people enter the job market. However, the report highlights that the growth of candidate availability is being impeded by the number of candidates dropping out of recruitment processes.
Increase in Starting Pay
The report reveals that starting pay has increased for both permanent and temporary workers. This is largely due to skill shortages and cost-of-living pressures. Employers are willing to pay higher salaries to employees with the right skillset. Consequently, temporary workers have been receiving better pay due to a shortage of available qualified candidates. This often creates a dilemma for employers who have to make a choice between investing in training or paying a higher salary.
Temporary Jobs Continue to Grow
While permanent placements have continued to decline, the rate of decline has slowed slightly. The report reveals that temporary roles have grown due to the shortage of qualified candidates in the job market. Temporary workers have been receiving better pay due to the demand for their services, but there remains a concern for their job stability.
The latest report on jobs from KPMG and the REC indicates a positive trend in the job market. The increase in candidate availability and starting pay could create new opportunities for job seekers. However, there remains a shortage of qualified candidates, particularly for permanent roles. The challenge for organizations is to address the needs of job seekers to attract and retain their talent. Ultimately, the recruitment process involves communicating with people, not buying paperclips. Employers must invest in their employees, provide opportunities for training and development, and offer support for childcare and transportation to attract and retain talent.