COVID-19 and the Impact on Recruiting

It's no surprise that COVID-19 continues to impact recruitment and employment. But there has never been a better time to hire...

At Flat Fee Recruiter, we are speaking to increasing numbers of customers who are taking advantage of this time to reassess their business, process, resource, hiring strategies, and funding with the focus on growth and efficiencies.

If you can recruit or looking to hire, then the recruitment market has never been so good.  Candidate numbers are up, skilled staff are disgruntled, competition for getting your vacancies seen are at an all-time low and suppliers are keen to help and negotiate deals.  Including Flat Fee Recruiter!

As many organisations are getting on the hiring bandwagon and kickstarting their return to work or growth strategies, we urge you not to miss out.  You can access more info about the Government's Plan for Jobs 2020 which has the latest incentives from the Summer Statement 2020

To also help you keep abreast of the changes, we will update this page with the latest highlights from several reliable sources when the information is available.   We hope that this will help you make the best decisions on when and how you take advantage of this unique hiring market.  Here are the key highlights:

 

1. KPMG and REC, UK report on jobs (Reporting on July / Updated 10th August 2020)

• Temporary billings showed a further decline in average hourly rates of pay during the month of July. Although pace of the decrease has eased further from May's 11-year record.

• Overall the candidate availability has risen at the fastest rate since December 2008.

• Starting salaries have fallen drastically for permanent starters despite rate of deflation easing to the least marked in the current four-month rate of decline.

 

2. Office of National Statistics:

• Latest data from ONS shows that for May to July 2020, there were an estimated 370,000 vacancies in the UK, which is 10% higher than the record low in April to June 2020.

• The ONS are currently working on improving the best and most timely estimates that COVID 19 has had on the labour market and are now working with HMRC to produce estimates of employees being paid through PAYE scheme.  You can read more about how they are using datasets to give us up to date information here

• Check out the new individual market sector, monthly tracker ONS have created.  They also have up to date information about employment and the labour market here.

 

3. REC (Recruitment and Employment Confederation)

• The employer survey JobsOutlook conducted 4-14th May by the REC, indicates that the worst may be over, as employers are beginning to have more confidence about hiring new staff in the upcoming months.

 

4. Flat Fee Recruiter reports:

• March-May 2020 average application rate increase by 25%

• Reduction in all vacancies by sector, except nursing medical and care which saw a 60% rise

• June saw the impact of COVID-19 is influencing job search negatively for 65% of survey respondents

 

 

Things to bear in mind…

The working world we knew before COVID-19 has certainly changed and will continue to develop as the economy recovers.   Technology, homeworking, and recruitment processes are just a few of the new and more efficient elements HR Managers and Business Owners are currently reviewing.  

Speaking of recruitment processes, now is an excellent time to review your budgets and strategy.  Flat Fee Recruiter, is experiencing a rise in new customers who no longer want to use recruitment agencies.  This is hardly surprising, especially as the demand for talent is at an all-time low and candidate numbers are high, why would you want to spend thousands of pounds on recruitment agency fees when you can get the same results with online job advertising yourself?

Please give us a call on 0113 322 7243 to discuss a solution that enables you to attract the widest reach of candidates to your company via all the main online job sources, and supports all your admin, screening and shortlisting of the best candidates, for a one-off, very low flat fee. 

Be savvy and forget the agencies! 

 

Last updated 10th August 2020