June 11, 2014
Challenge for employers to find right talent as candidate availability falls
There’s been a record employment rise over the last three months, with nearly 5,500 more people in work every working day and the number of private sector workers up by more than 2 million since 2010, according to official figures published today. The latest Labour Force Survey tallies with the recently published Recruitment and Employment Confederation (REC) and KPMG Report on Jobs, which revealed the steepest drop in permanent staff availability for 16½ years; fuelling concerns that employers are finding it increasingly difficult to find the talent and skills they need. The report on jobs also suggests that employees want more from their workplace than better pay and better benefits; as though starting salaries continue to rise, job seekers are sending out a very clear message that remuneration is not the only reward they are after.
It found the availability of candidates to fill permanent roles fell further in May. Moreover, the rate of deterioration accelerated to the sharpest since November 1997. Temporary/contract staff availability was also down markedly, with the latest drop only slightly slower than April’s 13-year record.
REC CEO Kevin Green said: “The UK’s jobs boom continues with vacancies increasing as employers look for new workers to meet increasing demand and to replace staff that have been snapped up by competitors.
Added Bernard Brown, Partner and Head of Business Services at KPMG: “Trying to fill vacancies in the current climate must feel like wandering through a hall of mirrors for the UK’s employers. No sooner are they in a position to reflect the improving economy by creating roles and offering tempting salaries, than the search for talent seems to reach a dead end, with candidates either preferring to hide in the shadows or failing to offer the appropriate skills.
“The latest figures also suggest that employees want more from their workplace than better pay and better benefits. Even though starting salaries continue to rise, job seekers are sending out a very clear message that remuneration is not the only reward they are after.
“With candidate availability at its lowest point for almost 17 years, individuals are saying that prospective employers are going to need to widen their offer to tempt top talent to move. It could mean that we have finally reached a point where employers have to consider reshaping roles, working arrangements and their own expectations or risk being caught out by an endless cycle of unfilled roles and unfulfilled workers struggling to cope with increasing workloads.”