Latest data shows that businesses are optimistic when it comes to their hiring intentions; this is despite UK economy confidence taking a turn for the worse.
The REC’s recent JobsOutlook survey revealed that from January to March, employers reported worsening expectations for the economy.
However, UK businesses’ confidence in hiring was at net: +8 in January-March 2022. This was one percentage point lower than in the last quarter of 2021.
Interestingly, employers’ intentions to hire permanent workers have particularly spiked over the past three months. Temporary hiring did see a decline during last month, but figures remain in positive territory.
Neil Carberry, Chief Executive of the REC, commented, “Businesses are seeing tax rates and uncapped energy costs rise, as well as pressure on salaries from staff who are seeing their own bills go up. So it is no surprise that firms are more concerned about the outlook.
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Email Jaime“But British firms are resilient and investment in staff and growth remain on the agenda when employers think about their own business. We expect to see employers’ hiring plans decouple further from their economic outlook over the coming months as they face a tight labour market. Firms will need to find new, creative ways to attract candidates, as well as keep hold of the talented staff they have. Recruiters will play a vital part in helping them to do so.
“More employers are switching their hiring intentions towards permanent staff, as the urgent need for contingency staff to cover Covid absences decreases. But temporary workers remain vital to managing uncertain and fast-changing markets.”
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