Staff Shortages Finally Easing?

Apr 18, 2023 editor

According to People Management Daily, 'Candidate availability has grown for the first time in 25 months alongside a marked increase in total vacancies, according to new data'. Could we finally be in a position where vacancies in hospitality and facilities are filled?

To summarise their report, the latest UK Report on Jobs survey,  from the Recruitment & Employment Confederation (REC) and KPMG – and compiled by S&P Global – found that overall candidate availability has increased from an index rating of 50.2 in February 2021 to 51.4 in March 2023 – marking a 1.2 rise. It found the upturn was supported by “modest rises” in both permanent and temporary staff availability.

Natalie Evans, owner and director at Your People 1st, said the figures suggest a “great opportunity” for employers to up their game. “While it is promising that candidate availability is on the rise, the changing and challenging contexts we face today mean that candidates are making considered choices,” she explained.  

“Candidates are now asking what's in it for them and wanting good places to work with options for flexibility and shared values.” This means that it’s a “great opportunity” for employers to “not get complacent and invest more in their employer brand to attract the best possible candidates from this wider pool”, Evans added.

Neil Carberry, chief executive at REC, said the “big news” in this report was the rise in candidate availability, but that the rising pay demonstrates “cautious optimism”. 

On candidate availability, Carberry said: “This suggests that, while the market is still tight, it should be getting gradually easier for firms to hire over the next few months.

“The continuing fast rate of pay growth is likely reflective of the impact of inflation on wage offers, as well as low labour supply. That means increasing pay is likely to persist, despite more people beginning to look for work,” he added.

This “cautious optimism belies the scale of the challenge we face in tackling shortages and addressing economic inactivity”, Carberry said.

Candidate availability rises for the first time in over two years, report finds (