Uncertainty
has been the key trend in recruitment in the sector in the first three months
of 2023, according to recruitment agency YOU Search & Select.
The
specialist events industry recruitment agency has launched a new quarterly
series looking at recruitment trends, with comment from founder Robert Kenward.
Kenward
said: “This quarter the key word is uncertainty. Companies are still recruiting
and jobseekers are applying for roles, but there is a lot of uncertainty
surrounding both parties and this is impacting on the eagerness of people
(especially in senior positions) to move companies. The great resignation has
floundered by the need for security and stability in an uncertain world.”
The
three key trends this quarter are:
FO-LI-FO:
The ‘Fear of Last In First Out’
“Rises
in inflation, mortgage rates and the general talk of the worsening of the
economy is driving fear into job seekers who were thinking of moving jobs.
Redundancies are often decided on a ‘last in first out’ methodology and this is
scaring people enough to decide not to move jobs now and to stay tight for
now,” said Kenward.
The
Rise of the Counter Offer
“The
fear of moving jobs is also leading to more employees accepting counter offers
from employers instead of following through on a resignation. Suddenly it feels
safer to stay put rather than move jobs. Candidates are becoming more timid and
risk averse as the risk of redundancies would impact more on new starters, and
because redundancy packages are based around length of employment,” said Kenward.
Long
Recruitment Processes
“The
recruitment process is taking far longer than usual. Uncertainty in the
economy, in UK politics and the general unease around the rise in interest
rates and cost of living has resulted in companies becoming far more cautious
when it comes to recruiting. Recruitment is still happening at a good pace, but
processes are slower and the rush to employ has halted to a jog instead of a
sprint,” added Kenward.
