May 2023 market overview: commerce and industry
Across the UK’s commerce and industry sectors, we’ve pulled together all the live vacancies we’ve had in May 2023 across London, Home Counties, West Midlands and South West England.
Businesses are focusing on hires across the manufacturing markets
May felt like it should have been the month when the market started to change – and it did. After a quieter April, which consisted of the Easter holidays, there was a little caution that with all the bank holidays in May, HR recruitment would be paused in time. However, even with three public holidays in the UK, the pace seemed to go up a gear or two.
From the previous month, new vacancies increased by 25% which seemed to come from even activity across sectors. The not-for-profit led the highest new opportunities and then technology, retail, FMCG (fast-moving consumer goods), engineering and the energy markets all seemed to be quite close behind with a very even spread.
“New vacancies increased by 25% from the previous month across sectors.”
We have started to see a rise in appointments across these sectors during May which again were evenly spread, however noticeably the manufacturing markets seemed to be appointing a quarter of the market share, followed by other areas that took an even share of the market in pockets of smaller numbers, with education and technology being the stronger sectors. This hiring has tied in with the reward and benefit data as a number of businesses have been reviewing and appointing hires in this market now following the end of the financial year and with bonuses paid out.
“The manufacturing markets seemed to be appointing a quarter of the market share.”
June is the month for focusing on 2024 hiring
We have certainly started to notice some of the direct hiring decrease and businesses with limited resources and market knowledge reach out for tailored support from Frazer Jones for their HR recruitment hires. We have seen some very exciting global brands partner with us and a number of start and scale-up businesses also reach out for the talent that they cannot tap into that we have thanks to our expansive network.
“The direct hiring decrease and businesses with limited resources, market knowledge reach out for the expert support from Frazer Jones.”
June is the midpoint of the year and many have discussed their 2024 hiring plans as their main focus. Any business keen to onboarding a new starter in December or early in the new year should start thinking now about the recruitment process with a lead time that factors in notice periods, especially if you are tapping into the more senior and executive space.
“If you are tapping into the more senior and executive space in December or early in the new year start thinking now about the recruitment process now.”
If you are considering a new hire in your HR team, please reach out for expert advice on the market, the talent available and how we could partner with you by completing our form below.
