The job market has been on quite the rollercoaster over the last couple of years.
As discussed in a recent interview with James Reed, chairman of jobs site www.reed.co.uk, the COVID-19 pandemic, rising salaries amid inflation and labour shortages have each played their role in leaving more job vacancies than applicants in the UK. Moreover, employers are struggling to fill those vacancies.
But what has this got to do with the title of this blog – i.e., changing jobs and getting a pay rise as a result?
Read on for a detailed breakdown of what’s happening, and how you can make the most of the situation by being successfully hired for new jobs in Gloucester!
This is what’s going on:
1. COVID-19 changed… well, everything!
The pandemic turned the world upside-down, and many businesses and employers were left not knowing what next steps to take, or where to turn.
Sadly, many employees were made redundant due to the financial impact of the pandemic, whilst others, due to the way that their employers handled the situation, were driven to resign.
What’s more, many of those who were furloughed or working from home (in fact, more than half) found themselves reflecting back on their jobs and what they actually wanted from a working environment. As a result, many decided to use the opportunity to plan and embark upon new career paths.
In short, thanks to this “Great Resignation” (or, as James stated in his interview, the “Big Quit” or “Big Lie Down”), there are more job vacancies in the UK at the time of writing (including new jobs in Gloucester) than there were during the pandemic.
2. Current wages aren’t keeping up with inflation
According to the Office for National Statistics, wages grew by 4.6% in the three months up to December, but when adjusted for inflation, regular pay fell on the year at 0.1%.
What’s more, although businesses are expected to award pay rises of 3% this year, this is still well below the rate of inflation.
Seeking a better salary is often quoted as one of the top reasons an employee will leave a job (or even turn a job offer down); which is clearly reflected in the fact that the Great Resignation is still ongoing (among other reasons, such as poor job satisfaction, greater opportunities elsewhere, negative workplace culture and so on).
3. Employers are struggling to hire people.
According to the Chartered Institute of Personnel and Development (CIPD)’s recent research, almost half of recruiters surveyed said they were struggling to fill vacancies.
Following the pandemic, candidates are now more selective of their career choices, with many looking for higher salaries, remote working opportunities, and businesses signing on for the steadily growing 4-day working week movement.
What’s more, there is currently a major skills gap – namely, digital, tech, construction, HR and even nursing – which means that employers are unable to find the people they need to carry out work to the standard they require.
This is often because the people that do have those skills are snapped up by employers offering more beneficial opportunities.
The result?
Many employers are now offering higher salaries (alongside other benefits, such as flexible working) in an attempt to attract candidates! As James Reed shared in his interview:
“We’ve got a jobs boom underway; there are 1.3 billion jobs available, which is at record levels, and employers are really struggling to hire people. So, it seems to me that one way (and this might sound self-serving!) that people can get a pay rise is to change jobs.
“The data does support that […]; we’re seeing employers put 10-20% on top of salaries to encourage people to move.
“It’s a real struggle for a lot of employers to find people at the moment, and we’re seeing that reflected in wage competition, particularly in areas where skills are in short supply; it’s not across the board, but particularly technology, construction and engineering.”
What does this mean for you?
In a nutshell, this means that, if you’ve got the skillset and experience, or you’re looking for a great first job opportunity with good rates of pay, now is the best time to get applying!
How can i2i Recruitment help?
From new jobs in Gloucester to vacancies in Cheltenham and other parts of the county, we’ve got a multitude of opportunities available that not only offer competitive salaries, but offer exciting career progression, too (our search function enables you to search by salary too, which is especially handy). In fact, we have over 250 live jobs on our website at the time of writing!
It all begins with you registering with us at i2i Recruitment. We’ll then arrange a meeting with you face-to-face so that we can chat about your skills, experience and career goals, and help you land on the path towards your dream career!
