June 28, 2013
The HR job market: Is it getting better?
At the turn of 2013, things were looking rather gloomy for the HR job market. While January boasted a strong year for the UK job market overall, HR lagged behind other industries with the number of vacancies and pitched salary levels both down from previous years.
As we moved into spring, confidence began to grow and so did the number of HR roles available. In fact, by May, the Reed Job Index was at its highest in over three years at 163, a figure calculated by tracking the number of new job opportunities and salaries on offer compared to the previous month against a baseline of 100. A report published by Reed indicated that three quarters of HR professionals felt secure in their current role, a sentiment which gave them the confidence to look for other opportunities. And many (39%) were doing just that.
The report bought even more positive news for HR workers, highlighting that more than half of HR employers were concerned that their employees would move on in favour of better opportunities. This has led a number of them to increase staff entertainment up to 18%, bonuses up to 7%, and pay rises by 6% to encourage staff to stay. This sentiment among employers was in spite of the fact that 63% of employees polled suggested they were satisfied in their role.
As confidence within the HR job sector continues to grow, more and more employers have are able to invest in talent, a move which has translated into high confidence levels among HR staff too. To continue this improvement and see the market grow further, employers that don’t want to lose talent should continue to invest in their employees through training programmes or the opportunity to progress within the company. For those that are looking to bring in new staff, the recruitment process should be a breeze thanks to the widening of the HR talent pool.
In the meantime, we’ll be keeping our eyes on the market to see how things progress over the coming months…