Over the past two years, the labour market has undergone some changes, from redundancies to demand in staff. Nevertheless, the market has overcome its challenges and is recovering substantially. With the huge increase in demand for staff and the skills shortage, the labour market is now booming. Subsequently, recruitment agencies can benefit from the current labour situation and it is now their time to shine.
Current Job Market 2022
So, what does the current job market look like? The job market is extremely candidate-driven, with low candidate availability and a high need for staff. As a result, candidates have more options and, thus, can be pickier with whom they choose to work for. Moreover, businesses are struggling to fill these available job roles; therefore, recruiters are being leaned on more than ever before. Consequently, businesses’ most popular response to this recruitment challenge is to increase starting pay, hoping to look more appealing to the candidates in the market. These challenges put significant pressure on organisations and prompt them to seek help from recruiters.
Recruiters are benefiting from the labour market
The current market is challenging for businesses; nevertheless, recruitment agencies can show what they do best. Established recruiters can benefit the most from this high labour market as they have the experience to successfully place skilled candidates required for the vacancies. Furthermore, recruiters’ applicants are almost frequently the best fit for the job, saving both time and money for businesses.
Niche recruiters are reaping the rewards
With the current demand for candidates, clients will benefit from agencies within a niche sector. Their deep-rooted knowledge and experience in specific segments will ensure businesses get the highest skilled candidates perfect for the vacancy. In addition, in conjunction with the candidate demand, recruiters may receive an increase in profits in line with their charge rates. This is because businesses are willing to pay recruiters more to keep up with the demand for roles that need to be filled.
Overall, recruiters have control over the current labour market and now is their opportunity to shine and demonstrate their expertise by placing individuals and assisting businesses in need.
Market-Leading Support
Simplicity has provided market-leading recruitment finance and complete back-office solutions to start-up and growing recruitment businesses for over 17 years. We only work in the recruitment industry, which means we understand your challenges and can help you to overcome them. Whether you are looking for a temporary or permanent solution, we have the funding, the team, and technology to support the growth of your business and help you thrive within the recruitment sector.
Please speak to a member of the Simplicity Sales team on 01594 888518 to find out more about our recruitment finance and back-office solutions.
For more information on the latest job market figures, please find – KPMG and rec, UK report on jobs.