What’s happening in commerce and industry?
Across the UK’s commerce and industry sectors, we’ve pulled together a review of the live data we have captured in September – covering London, Home Counties, West Midlands and South West England.
We saw an increase in vacancies in August with a spike by around 30% from June and July. We also saw the volume of September vacancies return to the average we have seen throughout the year each month, but still up from the summer months of June and July. September is usually a strong month; although we haven’t seen a dip we were expecting numbers to be slightly higher.
Over the last six months, we have seen the retail, manufacturing, engineering, transport/logistics, not-for-profit and technology markets dominate the new roles coming through.
PR and communications
Interestingly, September has seen a noticeable increase in PR and communications and leisure and tourism roles, which were up by around 70% from the last quarter.
Technology and retail
Technology and retail were still proving to be strong whereas manufacturing, engineering and the not-for-profit areas that were higher in prior months dropped off slightly throughout September by about 15%.
We have seen processes taking longer to place. This has been down not only to the market, with specific talent harder to find and multiple counter offers. But, we have seen over the summer many processes slowing down due to holidays and actually getting dates in the diary to interview! Some processes have taken 50–75% longer than usual because of this. That has also meant talent has dropped out and processes have had to start over time and time again.
Less talent acquisition roles
If we look at the type of roles that have been in the market, we have seen a decline in the number of talent acquisition roles. Salaries for these roles have also started to flatten out a little more, bringing the market back in alignment. There has been a slight increase in reward and benefit roles and more senior roles have spiked a little more than the prior month, including roles with a global remit.
An unpredictable market
The market is unpredictable. There is a slight feeling of caution across our commerce and industry clients, but not to the detriment of a business functioning or growing. Many companies we work with have growth plans with new hires planned in the UK and internationally which is pleasing to see and gives confidence in the market for now.
Watch this space for monthly commerce and industry updates.