Introduction
Rise’s Monthly Insights & Discussion is your go-to resource for staying informed in the ever-changing technical recruitment marketplace.
Rise is working UK wide with private and public sector businesses, across the temporary, fixed-term and permanent marketplace.
Each month, we will provide you with industry updates, latest news and expert advice on how to navigate the hiring landscape with confidence.
Industry Trends
The UK manufacturing sector has been in the spotlight this month with Make UK urging government minsters to draw up an industrial strategy.
“Almost every manufacturer (99%) thinks the UK needs an industrial strategy” - MakeUK.org
Part of a modern UK industrial strategy includes Requisite Skills. Make UK’s research calculates that filling current vacancies in the manufacturing sector could contribute to close £7 billion extra annually to UK GDP.
The combination of an ageing workforce, declining apprenticeship starts and rapidly changing skills requirements have left our employers struggling to recruit and retain talent.
Even though this can be supplemented through alignment of skills and immigration policy, a long-term solution is to invest in development of the current and future workforce.
Make UK expands on its industrial strategy in the following report:
https://www.makeuk.org/insights/reports/industrial-strategy-a-manufacturing-ambition
UK Report on Jobs – May
KPMG and the REC provide a monthly report on UK jobs.
The report for May includes:
- Temporary placements continue to expand at the quickest rate in seven months.
- Permanent placements drop at a steeper pace.
- Starting pay inflation remains sharp.
For businesses looking to hire, there is positive inflation in candidate availability for the second month in a row. With the inflation in starting pay, this is giving an incentive for candidates to move roles.
Engineering topped the rankings for permanent vacancies growth. Alongside being 3rd place (behind Nursing and Catering) in temporary vacancies.
Overall, for permanent vacancies, recruitment agencies have reported significant difficulty in recruiting for the following skills:
- Electrical Engineers.
- Design Engineers.
What solutions can you adopt?
To address these challenges, it requires a mix of long term and short-term measures to be implemented across your business.
Longer term, Make UK highlights various support that is provided by the government to invest in your workforce.
But short term, we can recommend some solutions that businesses are adopting to ease their hiring pressures:
- Efficient Recruitment Process: companies should implement a quick recruitment process. This includes CV feedback, interview process and offer management.
- Candidate Journey: it is essential to prioritize candidate experience, treat every candidate with respect, and ensure a smooth, efficient, and transparent recruitment process. A positive candidate experience can go a long way in building an employer brand and attracting top talent.
- Employer Brand: a strong employer brand that showcases a unique culture, values, and mission can set the company apart from other companies and attract top talent. Ensuring all members of staff embrace social media and networking by connecting with potential candidates will go a long way.
- Equality, Diversity & Inclusion: it is beneficial to implement a diversity and inclusion strategy to cast a wider net and be open to candidates from different backgrounds, experiences, and cultures. In addition to this, supporting an inclusive working environment within your business.
- Using Data: companies should use data-driven decision-making by analysing metrics such as time-to-hire, cost-per-hire, and quality-of-hire to track progress and optimize recruitment processes.
We’d love to talk further about your recruitment challenges or if you’d like any more information on the topics covered in this blog.
Please contact your Account Manager or our Client Engagement team on: alice.hulme@risetechnical.co.uk
