Strong demand for talented staff is creating a healthy market for those seeking better job offers, according to a report from Markit and the Recruitment & Employment Confederation (REC).
The organisations’ latest Report on Jobs has indicated that UK job vacancies continued to increase in February, with overall demand for staff rising at the quickest rate in one-and-a-half years. Both permanent and temporary workers have seen faster increases in job availability, coinciding with a sharp decline in the availability of candidates to fill these roles.
Potentially as a result of these trends, starting salaries for candidates placed into permanent roles increased at the quickest pace since March 2016, while temp pay growth was up from January, hitting the second-fastest rate seen in the last nine months.
Growth in permanent hiring was up from the decline seen in January, hitting a one-year high in February, while temp billings also increased, albeit at the softest pace in four months. For temporary workers, the strongest demand was seen in the engineering industry, closely followed by the nursing, medical and care sector and blue collar work.
According to the REC, these figures are indicative of the difficulties that companies are facing in finding the right talent to fill pivotal roles, as well as highlighting the positive environment this is creating for jobseekers. It also predicted that these trends are likely to persist in post-Brexit Britain.
REC chief executive officer Kevin Green said: “This is a good time for individuals prepared to move jobs, with bumper pay offers on the table as hirers compete to secure the talent available.
“In the context of rising inflation and stagnating pay growth, changing employers is becoming a more attractive option for those looking for more money.”