Phil Sheridan, UK Managing Director of Robert Half, commented on the latest ONS Labour market figures:
“It is not surprising that earnings have returned to their fastest rate of growth since 2009, as competition for talent has swung the pendulum away from the employer and there is a definitive shortage of skilled candidates for middle and top tier positions. Our research shows in the last year 83% of CFOs admit to offering salaries above what they originally planned to secure talented job candidates, while 33% of those have had to do so frequently. There is simply not enough highly specialised talent to go round, as 92% of CFOs admit they are challenged in finding skilled professionals. If this trend continues we expect earnings growth to push even higher in the latter half of the year.”