The #recruitment market has been through a rollercoaster of a ride over the past 4 years.
“The great freeze” - in 2020 the market came to a standstill for a few months as covid hit.
“The great resignation” live vacancy numbers hit record levels over 2021 and 2022, and candidate scarcity became a real issue for many employers and sectors. Candidates experienced 15-20% salary uplifts for moving jobs.
And now we come to the “Stay put”- candidates are not being enticed by wild uplifts on their salaries and being more cautious when moving.
Despite live job numbers falling to 916,000 according to latest ONS data, we still have a skills shortage and candidates are moving for more measured salary increases to join companies who will invest in them and their skills, and companies who’s mission, purpose and overall EVP connects.
Make no mistake if you’re an employer, all the great work you have been doing to standout as an employer of choice still needs to continue, and those recruitment partners are still essential to find the talent you need.
This article in The Times helps with some context: https://www.thetimes.co.uk/article/after-the-great-resignation-workers-decide-to-stay-put-900c2xbw5
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