Posted on 16/02/2016 by
As many industry commentators and main stream media outlets have reported, over the past 18 months, the improvement to the wider economy has had a positive impact on the UK talent market.
Hiring Managers are looking to the future once again and beyond bare bones replacement hiring. The sands of power have shifted and we are now in a candidate driven market, with top talent in high demand, particularly in certain key growth sectors.
A move to tighter regulations within the financial services sector has led to an increased need for applicants with a compliance background and knowledge of risk and regulation.
Data continues to boom, leaving organisations fighting over applicants with mathematics, computational finance and programming expertise. Multilingual candidates with experience of data analytics are being snapped up to feed the global appetite for Business Intelligence.
The Digital Technology sector is flourishing. Candidates who possessed marketing, sales and technical development experience were all highly sought-after in 2015, particularly in London. We anticipate in the first half of 2016, companies within the digital and new media sectors will have to compete aggressively to secure top tier talent in order to realise their growth ambitions.
Across most sectors, salaries remained fairly stagnant for the majority of 2014, with a slight upturn in the final quarter demonstrating the new status quo established in 2015. We anticipate that this trend will continue as we enter 2016, we expect salaries to continue to rise, especially for compliance, digital technology, data and legal talent.
Businesses that are quick to respond to the trend towards increasing salaries for in-demand skill sets, and who have a strong learning and development programme in place along with solid management and mentoring structures will be best positioned to take advantage of this renewed confidence to recruit. Growth and retention are now the priorities for most talent teams.
The future looks bright for the talent market in 2016. Economic conditions continue to improve and the knock on effect for hiring will continue to strengthen.