Recruitment and hiring insights: July 2024

Confidence from businesses in the market is on the rise following the election, which is a great sign to see as we head into the second half of the year. As expected, we are seeing a slight dip in role availability over the summer, which is often the case year on year, as business leaders, hiring managers and candidates head on holiday.

There has been a 4.2% drop in roles posted to job platforms like Indeed, Reed, Total Jobs and LinkedIn. There has also been a decline in demand for staff across the 10 main sectors, however Engineering, Accountancy and Financial Services are bucking this trend and continuing to hire through the month.

At last count, we had over 23,000 candidates on our database, with 41% of these signed up to job alerts, and 77% of candidates we placed in July were found by our expert Consultants as opposed to applying directly for the role. Applications per role have also declined despite growing demand for positions.

With only one month of data we can’t say what this is telling us, but we believe it’s a seasonal trend that will reverse in coming months. What is clear is that where previously businesses could expect that candidates would apply for roles and have their pick of the bunch, we are seeing more businesses turn to us to headhunt and find the right people with specific skillsets for their requirements.

Our track record for good quality matches to clients needs continues to be strong 2:1 CV to interview. We know that our staged candidate process helps us ensure that only the best candidates are being shared with clients. We hire for roles within 28 days from advert to placement.

Despite changes in the market as we navigate the summer months, we are having good conversations with businesses who want to hire in the final quarter of the year, using the expert insight of our team to help map this hiring process and who will be needed to help their business grow.

As always, if you are looking to hire or want to discuss salary benchmarking, interview support or more, we are on hand to help. Get in touch with our team via info@cathedralappointments.co.uk.



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