Are you looking to ramp up your hiring efforts as Brexit pressure eases? Well, according to the latest job market report from CV-Library, the UK’s leading independent job board, it’s definitely a good time, as applications for jobs have risen by an impressive 8.9%.
Indeed, the findings, which analysed job market data from October 2019 and compared it with findings from the same period last year, found that certain locations have experienced even bigger jumps in application growth year-on-year, with the top ten cities including:
- Portsmouth – 36.9% rise in applications
- Brighton – 19.3% rise in applications
- Southampton – 17% rise in applications
- Bristol - 16.7% rise in applications
- Cardiff – 13.3% rise in applications
- Glasgow - 12% rise in applications
- Edinburgh – 11.3% rise in applications
- London – 9.9% rise in applications
- Manchester – 4% rise in applications
- Leicester – 2.9% rise in applications
As well as this, the data also reveals that the charity sector experienced the largest surge in applications year-on-year (72.3%), followed by hospitality (45.7%), IT (36.3%), legal (33.6%) and electronics (26.7%).
Lee Biggins, founder and CEO of CV-Library, comments: “While it may be encouraging to see that candidates are feeling confident about job hunting, employers should remain wary. Even though Brexit has been pushed back to 2020, the result of the general election could have a huge impact on the job market and our future in the European Union.
“However, while airing on the side of caution, now is a great time to hire ahead of the New Year rush, especially as candidates in these key cities are responding to the market strength. Plus, with a significant break between any likely conclusion to Brexit, now is as good a time as any.”
A probable cause for this surge in applications could be down to the resounding 31.8% rise in salaries for new roles. The data found that Brighton led the major cities in salary growth (38.8%), ahead of Edinburgh (30.7%), Portsmouth (16%), Cardiff (13.9%) and Glasgow (12.3%).
As well as the rise in salaries, job vacancies rose by 6.2% in October, suggesting that UK employers are regaining faith in their hiring efforts once more.
Biggins continues: “While many companies are tempted to wind down in the lead up to Christmas and the New Year, it’s a good opportunity to get ahead with your hiring plans. The promise of higher pay is driving applications up right now, but it’s important to evaluate and assess the suitability of a candidate before offering them a bumper new pay packet.
“Set up a structured, fair and thorough hiring process to give you the best possible chance of making a great hire. Rushing or cutting corners can do more harm than good, and it can increase your chances of letting good candidates slip through the cracks.”