While job vacancies soar, there's an increasing skill shortage alongside it. We're going to be discussing the importance of recruitment agencies in such a competitive market - especially with the high number of vacancies to fill coupled with a shortage in 'skilled' workers available.
As restrictions begin to ease, and the working world slowly starts to move into the ‘new normal,' the professional demand for employees across all sectors is on the rise. However, there are simply not enough skilled candidates actively searching.
The number of available candidates actively pursuing new opportunities on the marketplace has declined at its fastest rate since 2017; with Reed adding 275,000 jobs to its website in May alone. A lot of UK workers are reluctant to even consider moving jobs with concerns of the lingering effects of the pandemic, in turn forcing them to remain passive instead of pursuing career opportunities.
Tech & IT Industry
One of the sectors that seems to have avoided the downward curve and has thrived over the last 12 months is IT and Technology. With the introduction and adoption of remote working, the IT market seems to be thriving, with employment rates rising continuously and start ups still being funded and backed despite the uncertainty during the pandemic.
Although the IT market took an initial hit at the start of the pandemic, job postings and vacancies rose by up to 45% month on month for 5 months continuously towards November 2020 according to Crunchbase.
With the introduction of remote and flexible working being so popular during the pandemic, it comes as no surprise that well over ¾ of the IT and Tech related jobs posted in Q3 of last year were offering either fully or partially remote working settings. Being able to work from the comfort of your own home and not have to travel into inner-city settings seems to have ensured the IT markets place at the very head of the hiring tree throughout the Covid-19 crisis.
Why Recruitment Agencies?
In comparison to May last year, permanent job vacancies have risen by 116%. Naturally, the comparison is slightly incomparable as May last year had us completely locked down, but for the first time in a while, there is a bigger demand for talent within the marketplace, and Recruitment Agencies really are an answer to this issue.
Partnering with a good Recruitment Agency and a good Recruiter allows companies with a talent shortage to access an untapped and passive candidate market, thanks to the Agencies own previous experience and personal credibility.
As a Recruiter, it is vital to have your finger on the pulse when looking for talent, with many candidates preferring to use one or two trusted recruiters because of good previous experience. By partnering with the right Agency, your company will have access to talent which isn't necessarily available to the rest of the competitive market.
From specialist market insights to process management and everything in between, a good Recruiter will increase your chances of hiring the 'right candidate' for your company and make the process enjoyable for you simultaneously. At Talented Recruitment Group, we also know that communication is essential, whether successful or not - we strive to build a long lasting relationship with our clients/candidates alike.
Recruiters will take time to learn your business, how you operate, and become a part of your brand. You will increase your presence within the candidate market, whilst also gaining another trusted source of business marketing that drives positive and organic traffic towards your business.
The Kickstart Scheme
Recruitment Agencies, including here at Talented Recruitment Group, have also become Government Approved Gateways for the Kickstart Scheme. By doing this, we are now able to help business owners at every step throughout their applications, allowing them to develop their business and give young workers the experience and skills they need in order to develop in their chosen career paths.
The Government have created this scheme in order to help with the candidate shortage and to take some of the weight off struggling business shoulders. The Kickstart Scheme provides full funding to create new jobs for 16- to 24-year-olds on Universal Credit who are at risk of long-term unemployment.
With this age category being the worst hit for unemployment through the pandemic, the Government saw it was vital to intervene and help develop a scheme that would provide skills and careers for the country's next generation. By hiring members of staff in this age group, a company can claim back 100% of the fully paid wages up to 25 hours per week for a total of six months - saving a company over £5,000 for the first year of employment.
Although hiring rates will continue to increase as things go back to normal and job stability will be a lot less volatile within the market place, we believe that now is the perfect time to partner with a Recruitment Agency.
Our values are ones to look out for when looking for the right Recruitment Group. During this time putting people first is essential, after the year we've had, it's time to help tackle unemployment and provide people with the roles they dream of having.
We like to ensure that every individual maximises their potential, which is why our team provide every candidate and client with their full attention and professional industry knowledge alongside their experience. Trust, honesty and open communication is key for any of our employees or clients, by sticking to these values and truly believing in them, we build long lasting relationships that makes a positive difference to the future.