James Dobbin, Head of Practice for Financial and Professional Services, shares his thoughts on the news that UK job vacancies have hit record highs.
The financial and professional services side of procurement and supply chain recruitment is positively booming.
Data out on Tuesday, 14 December, showed that UK job vacancies hit record highs last month.
So, what’s going on here?
While the UK might have added a record number of new jobs in November, there are still plenty going spare and openings rose to a record 1.2 million last month.
The trouble is, there just aren’t many people going for them – a stark contrast from this time last year.
In fact, ONS data has shown that half a million fewer people are employed or looking for a job than there were before the first lockdown.
Could this be because hundreds of thousands of workers have left the UK for good during the pandemic, including 200,000 from Europe alone?
Or could it be because Brexit has made it harder than ever for those Europeans who do want to pitch in to do just that?
So, what does it mean?
- It means there’s a scramble for more staff.
- It means companies will have to sweeten the deal to win would-be employees over, which might be why the UK upped salaries at a record rate last month.
- It means that low-balling candidates, dragging out recruitment processes, working on a contingent basis with recruiters and taking weeks to issue offers and contracts needs to stop.
What can you do to mitigate the war on talent?
Find one good recruiter and…
- Commit and retain them (if necessary)
- Agree on deliverables and timescales
- Listen to their advice and market insight
- Have regular update calls and meetings
- Move quickly and get the job done
If you are a procurement or supply chain professional looking for your next opportunity, take a look at all of the procurement jobs the team is currently recruiting by clicking here.
If your organisation is looking to partner with a professional recruitment agency with deep market knowledge, we’d love to have a no-obligation conversation about how Procurement Heads can help you secure talent into your business.