According to new data from the Recruitment and Employment Federation (REC), the number of active job vacancies has continued to rise. Hitting a new high during the build up to the Christmas period, the date showed 210,000 new jobs posted in the week of 22-28 November. In addition to this, in the same week, there was reported to be 3.51million active job adverts – an increase in over 500,000 (16%) since the end of October.
The data provided by REC also showed that the sectors which featured the largest growth in vacancies included prison officers and scaffolders, as well as dentists and vets. The areas with a decline in adverts included those situated in the hospitality sector such as restaurant and catering managers, as well as hotel and accommodation managers.
Commenting on the data, Neil Carberry, Chief Executive of REC, said:
“This is very much a candidate’s market now. Firms need to think about how they will attract staff facing greater competition than ever before. Professional recruiters are a vital tool for businesses at times like these, helping them to find the best staff by reviewing their workforce plans and reaching out to new pools of candidates. Government can help by working with business organisations on skills, immigration and unemployment policies that boost labour supply, helping businesses grow and the UK to prosper.”
What does this mean for recruitment firms?
This is a very crucial time for recruitment businesses in the UK and many will find themselves more in demand than ever. The rapid increase in job postings may mean an extra busy period for recruiters, particularly leading up to Christmas, with many finding an increase in work, demand for services and the requirement for additional staff.
How can Invoice Finance support growing recruitment businesses?
One of the most important things to recruitment businesses is the maintaining of relationships with their clients. Recruitment is all about relationships and these can be hindered when these businesses are not able to pay their suppliers. Invoice Finance is particularly suitable for recruitment consultancies as there is often a significant delay between paying candidates or bills and receiving client payments. An immediate transfer of cash to the business means that focus can remain on expanding their teams and winning new business.
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