The data suggests that while the market remains complex, it is fundamentally stabilising.

For the proactive agency owner, the current “hiring caution” is not a sign to retreat, but an invitation to build a more resilient, scalable foundation for the future.

A Snapshot of the Market

The latest labour market figures from the ONS provide a fascinating snapshot of a market in transition. While unemployment has seen a slight upward trend, vacancy numbers have officially levelled off.

In industry terms, this hopefully means the only way is up!

Market analysts are now pointing toward a recovery in the hiring market as we move through the year. The erratic fluctuations of 2025 will be replaced by a more predictable, yet cautious, baseline.

The Challenge: Hiring Caution

The primary sentiment among clients right now is caution. This isn’t necessarily due to a lack of work or demand; rather, it is a response to the rising cost of taking a chance on new talent.

The cost of a bad hire has never been higher for your clients.

What this means for agencies:

• Longer Sales Cycles: Decisions that took two weeks in 2024 are now often stretching to over a month.
• Demand for Flexible Talent: As firms manage their own risk, the demand for temporary and contract professionals remains the most resilient segment of the market.

Staying Flexible

To win in a stabilising but cautious market, agencies must move away from rigid overheads. The agencies that maintain a competitive edge will be those that have the ability to flex up and down with the workload.

1. Cash Flow: In a market where hiring cycles are longer, you can’t afford to have your capital locked in 60-day invoices. Using 100% recruitment funding ensures that your cash in the bank flows more freely, allowing you to hire internal talent or invest in new niches without waiting for client payments to arrive.
2. Efficiency is the new growth: Instead of adding administrative headcount to handle predicted volume, leverage outsourced back-office solutions. This allows your consultants to focus 100% of their time on high-value, relationship-driven activity.

Moving Forward

The UK recruitment industry has a proven track record of resilience.

We’re moving out of a period of adjustment and into a period of opportunity. While the market is showing signs of stabilisation, it’s essential that recruitment agency owners put the right processes in place.

Are your margins protected? Is your funding scalable? Is your back office functioning well or a source of stress?

By solving the challenges of working capital and admin bottlenecks now, you ensure that when the recovery gains pace, your agency is the one leading the charge.

If you think we can support you here at New Millennia, whether it’s with back office support or recruitment funding, then get in touch. We’ve been supporting recruitment agency owners for over 20 years and we’d love to help.

The post 2026 Recruitment Market Update appeared first on New Millennia.

This year has been a dynamic one, with economic uncertainties, evolving candidate expectations, and technological advancements shaping the landscape.

At New Millennia, we’ve had a front-row seat to these changes, working closely with our clients to navigate the complexities and capitalise on opportunities.

Navigating Economic Challenges

One of the defining features of 2024 was the uncertain economic climate.

Inflationary pressures, a change in government, and the lingering effects of global events created a sense of caution among businesses.

This had a direct impact on hiring decisions, with many companies taking a more conservative approach to recruitment.

• Challenge: Recruitment agencies faced the challenge of managing client expectations and ensuring a steady flow of placements in a more subdued market.
• Success: Agencies that thrived were those that diversified their services, focusing on sectors less impacted by economic fluctuations and embracing flexible staffing models like temporary and contract placements.

An Evolving Candidate Landscape

Candidates in 2024 were more discerning than ever.

They sought roles that offered not just competitive salaries but also prioritised work-life balance, professional development, and a strong sense of purpose.

• Challenge: Attracting and retaining top talent required a deeper understanding of candidate motivations and a shift towards more personalised engagement strategies.
• Success: Successful agencies invested in their employer branding, honed their communication skills, and leveraged technology to streamline the candidate experience.

Technology Driving Efficiency

Technology continued to revolutionise the recruitment industry in 2024.

AI-powered tools, automation, and data analytics became increasingly sophisticated, offering the potential to streamline processes and improve decision-making.

• Challenge: Keeping pace with technological advancements and integrating new tools effectively required investment and a willingness to adapt.
• Success: Agencies that embraced technology were able to automate repetitive tasks, improve candidate matching, and gain valuable insights from data, ultimately enhancing their efficiency and competitiveness.

Building Solid Relationships

In a year marked by uncertainty, the value of strong partnerships became even more apparent.

Recruitment agencies that cultivated close relationships with clients and candidates were better equipped to weather the storms and achieve shared success.

• Challenge: Building trust and fostering open communication in a rapidly changing environment required consistent effort and a commitment to transparency.
• Success: Agencies that prioritised relationship-building reaped the rewards of increased loyalty, repeat business, and a strong reputation in the market.

New Millennia’s Role

At New Millennia, we’re proud to have played a role in supporting our clients through these challenges.

Our funding solutions and back-office support have provided much-needed stability and allowed agencies to focus on what they do best: connecting talented individuals with fulfilling careers.

• Cashflow Management: Our flexible funding options have helped agencies manage their cash flow effectively, ensuring they can meet their financial obligations and invest in growth initiatives, even during periods of economic uncertainty.
• Streamlined Operations: By taking care of essential back-office functions like payroll, invoicing and credit control, we’ve freed up valuable time and resources for our clients, allowing them to concentrate on core recruitment activities.

Looking Ahead to 2025

The trends that shaped 2024, such as the focus on candidate experience, the adoption of technology, and the importance of partnerships, are likely to remain key drivers of success in 2025.

At New Millennia, we’re committed to staying at the forefront of these developments, providing innovative solutions and unwavering support to our clients.

We believe that by working together, we can navigate the challenges and seize the opportunities that lie ahead in 2025!

Want to learn more about our recruitment finance solution and how it could help your recruitment agency in the new year?

Get in touch for an informal chat.

The post Reflecting on 2024: Key Recruitment Learnings appeared first on New Millennia.

While some measures present challenges, others present potential opportunities.

Let’s break down the key changes and how agencies can adapt and thrive in this new landscape:

Potential Challenges on the Horizon

• Increased Employer National Insurance Contributions: The rise in employer NICs from 13.8% to 15% from April 2025, coupled with the lowering of the secondary threshold to £5,000, will undoubtedly increase the cost of hiring for businesses. This is the biggest potential challenge for recruitment agencies as it could lead to some companies becoming more hesitant to recruit, potentially slowing down the market for agencies.
• Clampdown on Umbrella Companies: The government is increasing its efforts to combat tax avoidance within the temporary workforce. From 2026, agencies and end-clients will bear responsibility for PAYE deductions made by umbrella companies. This places a greater burden on agencies to ensure they only work with compliant providers, adding another layer of complexity to their operations.

Opportunities

• Investment in Skills and Training: The budget includes significant investment in further education and skills training via the new growth and skills levy. This could lead to a more skilled workforce in the long term, benefiting agencies by increasing the pool of qualified candidates.
• Focus on Key Sectors: Support for Research and Development in sectors like technology, healthcare and green energy could stimulate job growth. Agencies specialising in these sectors may see an increase in demand for their services.
• Increased Employment Allowance: The rise in the Employment Allowance to £10,500 from April 2025 could offer some relief for smaller recruitment agencies, helping to offset the increased NICs.

How Recruitment Agencies Can Adapt

1. Embrace Compliance: With increased scrutiny on umbrella companies, agencies must prioritise compliance. This includes thoroughly vetting umbrella providers, ensuring they understand their responsibilities regarding PAYE deductions, and staying up-to-date on any legislative changes.
2. Focus on Value: In a potentially tighter market, demonstrating value to clients becomes even more important. Agencies should focus on building their brand, delivering exceptional service and utilising data-driven recruitment strategies.
3. Specialise and Diversify: Consider specialising in sectors with high growth potential, such as those highlighted in the budget. Diversifying service offerings to include temporary staffing or executive search, or outsourcing back office functionscan also open up new revenue streams and tighten your spending.
4. Invest in Technology: Automation and AI can help agencies streamline processes, improve candidate sourcing and enhance communication. Investing in these technologies can improve efficiency and provide a competitive edge.

Looking Ahead

It’s early days but the 2024 autumn budget on the face of it, presents both challenges and opportunities.

By proactively adapting to the changing landscape, agencies can not only weather the storm but also position themselves for continued success.

The key lies in understanding the implications of the budget and focusing on delivering exceptional value to clients and candidates alike.

If you’re concerned about cashflow or want to free up funds to invest in your agency, then recruitment finance could help.

At New Millennia we work with start-up recruitment agencies and established SMEs, helping to improve cashflow and streamline processes.

For an informal chat, get in touch.

The post How the 2024 Autumn Budget Impacts Recruitment Agencies appeared first on New Millennia.

Since the start of the pandemic in 2020, there have been new norms and trends in the working world that seem like they’re here to stay. If you’re a recruitment agency, it’s important to take note of the rising trends and recent statistics on the labour market.

It’s no secret that the pandemic has changed working life for the foreseeable future. Here are the recent trends that are predicted to stay in 2022.

Remote Working

Since the pandemic, remote working was once a necessary way to work. Although, with it now being safe to return to the office, many businesses are offering flexible working arrangements. Since it’s been found that productivity increased within some companies during long working from home periods, it’s here to stay.

Many office workers have preferred working from home and do not wish to return to the office full time. Businesses have to accommodate this and it’s now commonplace for companies to adhere to hybrid working arrangements. Many candidates are looking for remote work too, meaning it’s very much in demand. This trend is set to continue in 2022, changing the future of work environments.

The Gig Economy

Another key trend affecting the UK job market in 2022 is what’s known as the gig economy.

This refers to the growing number of people who are working freelance or on a temporary, short-term basis. This trend is being driven by the benefit of adjusting your work life balance to cater to your own needs. Having complete control and flexibility in your career is proven desirable. Freelance work is a key example of this. Many companies can outsource some of their work to these freelancers.

Skills Shortages

With the UK economy booming and employment rates increasing, there are many businesses that are struggling to find the right candidates for the role. This has led to skills shortages in a number of industries, including healthcare, engineering, and IT. As a recruitment agency, there may be an increase in clients wanting to find the right candidate for them.

So there are the recent trends in the job market that are here to stay in 2022. If you’re a new recruitment agency looking for clients and candidates then we can help you. At New Millennia, we provide funding to startup recruitment agencies, so you can focus on what matters.

The post The Job Market in 2022: Key Trends appeared first on New Millennia.

Things have changed a lot since then, with the furlough scheme ending and various services opening back up in full.

So we’ve revisited the numbers and compiled a list of 15 stats on the job market to help build a picture of what’s happening out in the market right now:

1) There are currently 1.9 million active job listings in the UK.

This is an increase from the 1.3 million job vacancies recorded in February 2021.

2) The UK’s unemployment rate is currently 4.6%.

The UK unemployment rate is the lowest it has been in 2021, however youth unemployment is three times higher than this.

3) Young people are 125% more likely to have become unemployed since March 2020.

Statistics show they are the group whose careers have been most impacted by the pandemic.

4) According to a recent REC survey, 97% of recruiters said it was taking longer than usual to fill vacancies.

In fact, 50% of recruiters surveyed said it now takes longer than a month to find suitable candidates.

5) Vacancies in arts, entertainment and recreation grew by 267% between May and July 2021.

The largest increases were seen in accommodation and food service.

6) The number of payroll jobs reported on the HMRC systems is now very close to its pre pandemic level at 28.9 million.

This compares with 29 million in March 2020 – though recovery is ongoing positive signs can be seen.

7) LinkedIn reports that since the outbreak of the pandemic, internal mobility has increased by nearly 20%.

Currently employees are a little more reluctant to change jobs, instead choosing to move within their current organisation.

8) 60% of candidates now expect faster feedback on their job application.

Think about the process for the candidate within your recruitment agency and whether you can speed things up to help meet expectations!

A study by the Hay Group found that 70% of candidates are even put off by a friend or colleague’s bad experience with a company.

9) E-commerce continues to be the fastest growing job sector in the UK.

Job titles include Driver, Supply Chain Associate, Warehouse Team Lead and Supply Chain Assistant, driven primarily by Amazon.

Digital content freelancing is another fast growing sector, with podcaster and content co-ordinator being particularly popular.

10) Over 90% of candidates use their mobile devices to look for their dream job.

It shows the importance of ensuring your website is easy to navigate on mobile!

11) 52% of remote workers reported working longer hours compared to before the pandemic.

25% reported working for more than 10 hours extra each week, with 41% saying they put in an extra five to ten hours per week.

12) 82% of workers in Britain want to work flexibly in the future.

This number increases to 87% of workers when speaking to women.

Remote working, flexi time and part time working were the most desirable, as well as job sharing and term time working.

13) The number of temporary employees in the UK increased by 7.9% between April and June 2021 compared to the previous year.

The number of temporary employees as a percentage of total employment was 5.8%, up from 5.4% when compared to the previous year.

14) Average total pay has increased by 8.8% compared to the previous year.

However the ONS said there are a number of compositional and base effects that could be inflating the growth.

15) Actual weekly hours worked in the UK increased by 50.9 million hours between April to June 2021 compared to the previous quarter.

The redundancy rate has also return to pre-pandemic levels.

Sources:

https://www.rec.uk.com/our-view/research/recruitment-insights/jobs-recovery-tracker

25 Emerging Recruitment Trends in 2021

https://www.onrec.com/news/news-archive/uk-unemployment-furlough-masking-the-true-extent-of-the-problem

https://www.onrec.com/news/news-archive/uk-unemployment-furlough-masking-the-true-extent-of-the-problem

https://www.rec.uk.com/our-view/news/press-releases/recruiters-concerned-labour-shortages-are-putting-economic-recovery-risk

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/jobsandvacanciesintheuk/august2021

https://www.bbc.co.uk/news/business-58241006

https://www.gradtouch.com/advice/article/content-fastest-growing-uk-job-sectors

https://www.peoplemanagement.co.uk/news/articles/half-professionals-working-longer-hours-at-home-poll-finds#gref

https://www.tuc.org.uk/research-analysis/reports/future-flexible-work

https://www2.staffingindustry.com/eng/Editorial/Daily-News/UK-Number-of-temporary-employees-up-7.9-job-vacancies-reach-record-high-58732

The post 15 Stats on the Current State of the Job Market appeared first on New Millennia.

To help you understand the current state of the job market, we’ve gathered a number of the latest recruitment statistics:

1) There are just under 1.3 million active job vacancies right now in the UK.

If we compare this to our stats from last summer, we can see that’s an extra 300,000 vacancies.

2) 68,000 more people were in payrolled employment from February 2021, compared to January 2021.

The ONS also highlighted that this is the third consecutive monthly increase in employees on a payroll, signalling more optimism in the marketplace.

However it’s worth bearing in mind that this is still 693,000 less than February 2020.

3) The UK unemployment rate currently stands at 5%.

This is not as high as initially predicted, with some estimates last year suggesting it could reach as high as 12%.

4) More than half of employers reported that they expected to hire in the first quarter of 2021.

Unsurprisingly, healthcare as an industry is thought to have driven this high statistic reported by the CIPD Labour Market Outlook.

5) E-commerce personnel is one of the fastest growing job sectors right now in the UK.

The report published by LinkedIn, showed that roles such as driver, supply chain associate and warehouse team lead were growing in popularity.

Hiring hotspots identified were Birmingham, Leicester, Northampton and Manchester.

6) Construction professionals are in high demand right now.

LinkedIn also reported that they were seeing an increase in demand for construction professionals such as construction site managers.

7) Under 25s have been hardest hit by the employment drop.

8) Interest in bar staff positions has grown by 98%.

As pubs and bars reopen many are seeking employment, according to Indeed.

Front of house and waitressing positions were also highly searched for on the site between the 26th February and 12th March.

9) There are 1.3 million less people working in leisure and hospitality than prior to the pandemic.

The unemployment rate for those working in the sector stands at 16.7%, up from 5% in December 2019.

10) The average amount people earn has increased by 4.2%

11) 2.7 million people are currently claiming Jobseeker’s Allowance or Universal Credit because they are “searching for work”.

This is a huge increase when you compare it to the 1.4 million from the prior year, before the pandemic began to take effect.

12) East and West Dunbartonshire saw the highest increase in job adverts in March 2021.

This is compared to the Isle of Wight which saw the steepest fall in new job advertisements.

13) 16.3% of job adverts in March 2021 were for temporary roles.

When we take a look at the previous recordings we can see this has grown:

15.1% – Early July 2020

14% – Mid March 2020

14) Veterinary nurses, bricklayers and therapy professionals are in high demand!

15) 39% of companies said filtering a high volume of under-qualified candidates was their biggest hiring pain point in 2020.

16) 50% of employers have never discussed how they could improve the diversity of candidates they consider hiring.

Yet many are looking at how tools and technology can help combat bias in hiring.

17) 53% of employees feel they have to be available at all times since working from home.

30% said they felt they now worked more hours than previously, as the line between work and home life continues to blur.

However…

18) 56% of employees reported an increase in their happiness levels since working from home.

Findings suggested that they appreciated the opportunity to ‘live in a different way’.

Sources:

1. https://www.rec.uk.com/our-view/research/recruitment-insights/jobs-recovery-tracker
2. https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/march2021
3. https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/march2021
4. https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/march2021
5. https://www.cnbc.com/2021/01/21/linkedin-says-these-are-the-fastest-growing-job-sectors-in-the-uk.html
6. https://www.cnbc.com/2021/01/21/linkedin-says-these-are-the-fastest-growing-job-sectors-in-the-uk.html
7. https://www.apsco.org/article/under-25s-hit-hardest-by-employment-drop-but-employers-will-fe-4522.aspx
8. https://www.thisismoney.co.uk/money/news/article-9422615/Job-listings-rise-highest-level-year-says.html
9. https://www.aarp.org/work/job-search/info-2020/job-losses-during-covid.html
10. https://www.bbc.co.uk/news/business-52660591
11. https://www.bbc.co.uk/news/business-52660591
12. https://www.rec.uk.com/our-view/news/press-releases/jobs-recovery-tracker-increase-new-job-adverts-covid-restrictions-start-lift
13. https://www.rec.uk.com/our-view/news/press-releases/jobs-recovery-tracker-increase-new-job-adverts-covid-restrictions-start-lift
14. https://www.rec.uk.com/our-view/news/press-releases/jobs-recovery-tracker-increase-new-job-adverts-covid-restrictions-start-lift
15. https://toggl.com/blog/recruitment-industry-trends-2021
16. https://www.rec.uk.com/our-view/news/press-releases/jobsoutlook-employer-hiring-confidence-rises-even-lockdown
17. https://news.microsoft.com/en-gb/2021/02/15/research-reveals-how-we-really-feel-about-working-from-home/
18. https://news.microsoft.com/en-gb/2021/02/15/research-reveals-how-we-really-feel-about-working-from-home/

The post 18 Stats on the Current State of the Job Market appeared first on New Millennia.

We’ve taken another look, six months on, and noted the key stats below. It shows a mixed picture, varying widely from sector to sector and region to region:

1) The number of new vacancies posted in October grew by 9.7% month-on-month.

Though vacancies are 25% lower than they were this time last year, we are beginning to see growth as the number of vacancies increases each month.

2) There are over 1.2 million active job vacancies right now in the UK.

Statistics show this is a slight dip on the peak we saw in September, but a huge improvement from the numbers seen in spring and summer.

3) 227,000 people were made redundant between June and August.

This is a record increase of 113,000 people compared to the previous three month period, as employers prepared for the initial planned end to the furlough scheme. Since February 2020 nearly 700,000 people have lost their job. With stomach cramps, they also help. It reacts to the weather for https://urbanmuslimz.com/news/uncategorized/ultra-tram/ after taking the spazmalgon tablet, the pain disappears in 15 to 20 minutes. They are inexpensive Ultram pills relieve pain very effectively. When pressure changes or magnetic storms occur, my head hurts.

4) Job applications per vacancy have dropped 14.5% month-on-month.

Despite a record number of people unemployed, job applications per vacancy have dropped month-on-month, from September to October. 

However compare this figure to October 2019 and we see that each vacancy in October 2020 is receiving over 30% extra applications. It’s a competitive market out there!

5) There are currently 2 million employees still on furlough.

According to statistics from the ONS, one in 13 workers is still on furlough, much lower than the 9 million people at the peak of the pandemic.

6) IT professionals account for over 30% of all current vacancies.

The demand for IT professionals that we saw in July has continued to hold strong. In a normal climate IT roles account for around 20% of all vacancies, so we can see a growth as companies go through a period of digital transformation.

Distribution has also been shown to be a growing sector with vacancies rising over 70% from September to October.

7) Hospitality and retail vacancies continue to drop.

Unsurprisingly vacancies in the hospitality and retail sectors continue to fall as we head in to our second lockdown.

8) Leeds and Leicester have seen the biggest growth in vacancies.

When we look regionally we can see that Leeds, Leicester, Birmingham, Nottingham and Bristol have seen the biggest growth in vacancies. London, Hull and Portsmouth have seen the smallest growth in vacancies.

9) A third of workers would quit their job if they couldn’t work from home on a permanent basis.

Research has shown that a third of workers have enjoyed working from home so much that they’d quit if it wasn’t supported long term. This is despite 41% of homeworkers reporting that they have an “inappropriate” working environment such as their bed or sofa.

10) Over 50% of recruiters feel their mental health has suffered this year.

Research published by the CV-Library has shown many in our industry have struggled with their mental health in the past year. 

After such unprecedented events it’s hardly surprising, with financial difficulties cited as the number one reason for the rise.

Sources:

1. https://www.onrec.com/news/statistics/as-a-second-national-lockdown-looms-job-postings-remain-259-lower-than-last-year
2. https://www.rec.uk.com/our-view/news/press-releases/jobs-recovery-tracker-recovery-slows-virus-returns-adverts-fall-first-time-july
3. https://www.bbc.co.uk/news/business-54620758
4. https://www.onrec.com/news/statistics/as-a-second-national-lockdown-looms-job-postings-remain-259-lower-than-last-year
5. https://www.theguardian.com/uk-news/2020/oct/29/ons-finds-2m-people-still-on-furlough-days-before-scheme-ends-coronavirus
6. https://www.theglobalrecruiter.com/white-collar-vacancy-numbers-up/
7. https://www.rec.uk.com/our-view/news/press-releases/jobs-recovery-tracker-recovery-slows-virus-returns-adverts-fall-first-time-july
8. https://www.cv-library.co.uk/recruitment-insight/job-market-report-q3-2020/
9. http://hrnews.co.uk/nearly-a-third-of-staff-say-they-would-quit-if-home-working-not-supported/
10. https://www.onrec.com/news/statistics/over-half-533-of-recruitment-professionals-feel-their-mental-health-is-worse-than-a

The post 10 Stats on the Current State of the Job Market appeared first on New Millennia.

However the pandemic has seriously changed that outlook.

In this article we’ve taken a look at the current state of the employment market. The situation is changing every single day, but hopefully this helps you see growing areas and those currently in decline.

1) There are over 1 million active job vacancies right now in the UK.

Statistics looking at the week commencing 6th July 2020, show that vacancies have finally tipped over the 1 million mark. This is up from 990,000 recorded in the previous week.

2) 9.4 million employees are currently on furlough. 

The Government scheme launched in March is due to finish at the end of October, when employers will have some difficult decisions to make.

3) The number of payroll employees has fallen by 2.2%

Looking at figures from the period between March and June 2020, shows that 649,000 less people were on the payroll compared to the previous months. However on the positive side, the decline in employment has slowed in June when we compare this to May.

4) Employer confidence in making hiring decisions has risen for the first time since February.

Unsurprisingly, employer confidence has been down when asked about making hiring and investment decisions. However for the first time since the start of the pandemic, employer confidence has risen when it comes to deciding on the employment of new permanent staff in the next three months. 

5) Unemployment is expected to a hit peak of 12% before Christmas.

This is based on estimates, and on the assumption that between 10%-20% of employees currently being furloughed will be made redundant rather than return to work.

6) The North West of England has seen the highest increase in the number of job vacancies.

In fact, in one week the number of job postings grew by over 17,000. This is compared to East Lothian and Midlothian which has seen the largest reduction in job advertisements.

7) 17% of employers have made redundancies in the year up to July 2020.

This is a significant increase from the previous year, and demonstrates how businesses are trying to survive by shedding staff.

8) There has been a 23% drop in the average number of hours worked.

Looking at the period between early March and late April, we can see just how much impact coronavirus has had on the job market. Experts suggest that the drop in the number of hours worked is a better indication of unemployment than the current unemployment numbers.

9) 28% of firms expect to cut jobs in the next three months.

When you compare this to last year, when only 7% of companies expected to cut jobs, you can see the significance of the number.

10) 522,200 people aged between 16-24 claimed unemployed related benefits in June 2020.

Young people aged between 16 and 24, are thought to be the group that will be the most adversely affected by the pandemic. The figure of 522,200 is an increase of 116% compared to March 2020 when the lockdown began.

One in three young people have lost their jobs or been furloughed, compared to one in six older adults, showing the need to provide opportunities for young people.

11) Opportunities for IT professionals have grown by 18%.

Though initially hit hard by the pandemic, companies are realising the need and value of skilled IT professionals. This could be driven by the number of companies embracing a remote working culture in the long term.

12) Vacancies in the hospitality and catering sector have increased by 48%.

Vacancies in this sector have just kept growing since the start of June, reflecting the reopening of significant parts of the industry.

13) There are currently 14,000 open vacancies within the NHS.

Unsurprisingly, the NHS is Britain’s top hiring organisation currently, with Amazon propping up the private sector with 1,500 vacancies in London alone.

14) There has been a growth in demand for LGV Drivers and Graphic Designers.

Though wildly different occupations, both roles show changing needs within key industries. Web designers and developers are also in high demand.

15) Statistics show a decline in demand for teachers, fitness professionals and dentists.

Social distancing restrictions across these workplaces is likely to have decreased the demand for the professions.

16) Searches for remote working positions have risen by 222.4%

If you’re looking for experienced candidates for a role, then encourage your client to include remote working in the description! Many more people are now looking for remote positions after enjoying the experience during lockdown.

Those aged between 25 and 34 years old were the most interested. With professionals working in recruitment particularly keen to continue working remotely. Perhaps something to consider if you want to attract experienced recruiters to your agency.

Sources:

1. https://www.rec.uk.com/our-view/research/recruitment-insights/jobs-recovery-tracker
2. https://www.theguardian.com/business/2020/jul/16/number-of-uk-workers-on-company-payroll-falls-by-650000-amid-covid-19-crisis
3. https://www.theguardian.com/business/2020/jul/16/number-of-uk-workers-on-company-payroll-falls-by-650000-amid-covid-19-crisis
4. https://www.rec.uk.com/our-view/news/press-releases/jobsoutlook-hiring-confidence-returns-positive-territory-wider-outlook-remains-gloomy
5. https://www.theguardian.com/business/2020/jul/14/weak-recovery-could-take-unemployment-to-1980s-levels-warns-obr
6. https://www.rec.uk.com/our-view/news/press-releases/jobs-recovery-tracker-weekly-job-adverts-top-one-million-lockdown-eases
7. https://www.rec.uk.com/our-view/news/press-releases/jobsoutlook-hiring-confidence-returns-positive-territory-wider-outlook-remains-gloomy
8. https://www.bbc.co.uk/news/business-53416207
9. https://www.bbc.co.uk/news/business-53416207
10. https://commonslibrary.parliament.uk/research-briefings/sn05871/
11. http://hrnews.co.uk/coronavirus-london-job-market-hit-hardest-by-coronavirus-pandemic-%E2%80%8B/
12. http://hrnews.co.uk/coronavirus-london-job-market-hit-hardest-by-coronavirus-pandemic-%E2%80%8B/
13. http://hrnews.co.uk/coronavirus-london-job-market-hit-hardest-by-coronavirus-pandemic-%E2%80%8B/
14. https://www.rec.uk.com/our-view/news/press-releases/jobs-recovery-tracker-weekly-job-adverts-top-one-million-lockdown-eases
15. https://www.rec.uk.com/our-view/news/press-releases/jobs-recovery-tracker-weekly-job-adverts-top-one-million-lockdown-eases
16. https://www.onrec.com/news/statistics/data-shows-remote-working-roles-are-in-high-demand-lockdown

The post 16 Stats on the Current State of the Job Market appeared first on New Millennia.

We’ve taken this opportunity to check in with what we predicted all the way back in January, have the trends we were watching developed and played out as anticipated or taken a surprising turn?

INSTANT ACCESS

We have immediate access to almost everything we could want; we have instant dating, instant food delivery, instant taxis, Amazon have brought us Amazon Prime and same day delivery. We’re accustomed to having easy access to almost everything, so the question is, ‘what can recruitment offer to bring the instant access era to this industry too?’. Apps and technology need to be utilised to give optimum convenience to job seekers and candidates, a recruitment trend you’ll want to be aware of.

EQUALITY AND DIVERSITY

Focus has been thrown on to workplaces offering diversity and equality; building workplaces filled with diversely skilled individuals, and the onus is on recruitment professionals to be able to source and offer up this talent. Can you position yourselves as experts in sourcing diverse talent, as this may become an emerging recruitment trend? A diverse team makes for a diverse offering, a well-rounded team that can approach problem-solving from unique angles and produce creative and innovative solutions and suggestions.

Gender Pay Gap reporting, not to be confused with equal pay, has also brought into focus the equality standards that need to recognised by recruiters and employers. This is a strong tool to encourage equal pay and the opportunity and prompt that many employers needed to make their move towards closing the pay gap.

RECRUITMENT & THE ECONOMY

The economy holds a strong correlation with the success of the recruitment industry, and currently, confidence in the recruitment industry appears to be going from strength to strength. Employers are more willing and optimistic when broached with the question of hiring additional staff as a result of feeling more positive about the economy of the UK as a whole. Although Recruitment Buzz reported that 30% of employers felt more confident about the UK economy, they also stated that an increased number of employers, 41%, are hiring more temporary workers to tide them over this period of uncertainty.

Delving into industry specifics, finance sector professionals are securing more permanent positions over the past year, while marketing professionals are overall securing less.

DATA

The data game has changed, the GDPR came into action on the 25th of May so the use of data and the rules surrounding it have changed; however data is and will remain a definite trend to watch and keep up with, in recruitment. The way in which information is stored and managed has new standards due to GDPR which will affect the way that positions are marketed to job seekers. The data does, however, allow the recruiter to better match positions and prospects with the best candidates available and it also a allows for analysis, so getting this stored and analysed effectively and regularly will allow for constant improvement.

THE GIG ECONOMY

This one is a non-mover, the gig economy is still pegged as a growing trend for the recruitment industry, and recruiters should be prepared to place more contractors or gig workers. Individuals are looking for more flexible work which allows them multiple career paths and a much lower level of commitment and employers are looking for contract workers, to whom work can be outsourced without the responsibility and cost of taking on a new employee.

What else might employers need to watch out for? Legalities and technicalities, there has been a rise in lawsuits for the likes of Deliveroo, as gig workers have fewer rights to unfair dismissal etc., so make sure you have a clear set of terms and conditions or short-term contracts at the ready.

YOUR BRAND MATTERS

Concentrating on branding for new talent is just as important as your external marketing. Workers are looking for employers with a healthy and attractive company culture, so taking a customer-focused approach to recruitment is the way forward in 2018! Displaying this company culture to potential recruits is going to be something recruiters will want to focus on when sourcing talent.

A few unsurprising non-movers in this, almost, half-year update, and a few new points to watch out for. Getting your data regulations in shape is vital as due to the GDPR and shifting focus to the recruit as a customer and putting more into candidate experience will serve you well going forward.

The post 2018 Recruitment Trends And Updates appeared first on New Millennia.

Brexit has brought with it uncertainty for most sectors, why should recruitment be any different?

There has been a lot of concern that there will be much fewer Graduate jobs offered as we near Brexit, this has already been shown with a drop of 4.9% in the number of graduates hired by organisations named in the Times Top 100 Graduate Employers.

The future for graduate hires is not all bleak, but for now, at least, the general outlook is that employers across the board are being cautious with hiring overall and especially with graduate hires; 2017 saw private sector organisations recruiting 10% less graduates.

So, what about your organisation? Are you among the many? And if you have slowed down the graduate hires for now, are you ready the near future when you will be looking to compete for the very best graduates to join your team?

Yes, graduates will be competing for places on your graduate scheme but you need to be competing with other employers for the best candidates, persuading the best talent to compete to join your team.

Take a look at what is it that graduates are looking for from potential new employers. Should you be updating and tweaking your hiring processes now to ensure you can secure the graduates you desire when the time comes?

Pepsi recently had graduates battling to win a spot on their graduate scheme. This shows marketing savvy, opening up the floor to far more candidates than they may have experienced previously, but it also gives graduates a real opportunity to showcase their skill set and creativity.

Now, not every organisation can run something on this scale but you can look at where your graduates come from; how you are attracting them and could this be a little more creative? Could you be could you be working more closely with Universities to build relationships with them and therefore their students?

What does your grad job offer? Graduate jobs are about more than just the job for graduates, they will look at your organisation as a whole, what kind of work-life balance you can offer and their working patterns, the company culture, this is the whole package you are appealing with, so use it to it’s best. Ensure that your inviting company culture is portrayed from the first point of contact.

See our blog on candidate experience here.

You may also want to look at the opportunities you can offer within your organisation, this can mean a variety of things; the opportunity of promotion or progression, opportunity to travel or opportunity for continued development and training. This last one is of increasing importance, graduates don’t want to stop learning once they’ve secured their position, if staff and recruits are aware of the training and development opportunities throughout their life at your company, you’re looking at a higher retention rate.

It has been found that offering face to face interviews and strong engagement from an early stage in the interview process can limit the level of drop outs and withdrawals. The answer, hold your chosen competitors hands right the way through, good, clear and positive communication from step one, and don’t wait too long to get them into an face to face interview situation.

Can your applicants find plentiful information about not only the grad job but the company as a whole, this is one of their first big life choices outside of university life, 48% of students wouldn’t consider an employer ‘ideal’ if they do not know enough about them, make it simple.

Graduate careers are an important part of your recruitment, the grad jobs you offer bring in the future minds of your company, so it’s definitely worth taking the time to check if your graduate recruitment scheme is in order.

The post Have You Got What Graduates Are Looking For In Grad Jobs? appeared first on New Millennia.