All Executive Jobs, Bank of England, Business, Christmas, CV Trumpet, economy, employment, England, Financial services, Hay Group, job seeking, KPMG, Office for National Statistics, REC, Recruitment and Employment Confederation
As the Bank of England forecast ‘some’ growth in the economy, the Recruitment and Employment Confederation (REC) and KPMG Report on Jobs found that the number of people placed in permanent jobs increased for a seventh successive month in April, with the rate of growth accelerating since March. The report also says demand for staff continues to rise at a solid pace.
The REC/KPMG report is backed up by data from the Office for National Statistics (ONS) that says some 503,000 job vacancies were advertised in the three months to 30 April, the highest in over four years. The was the highest figure seen since the period October to December 2008, when the jobs market is regularly buoyed by the demand for seasonal staff in the run-up to Christmas.
On the downside the ONS also revealed that overall, unemployment increased by 15,000 to 2.52 million in the three months to March, resulting in an unemployment rate of 7.8 per cent. This followed the rise in unemployment of 70,000 reported in last month’s official figures.
The total employment level among those aged 16 to 64 now stands at an awful 71.4 per cent.
Drilling down a bit
Returning to the REC/KPMG report, and here is a surprise, the strongest growth of demand for permanent staff was signalled within the Engineering sector – go figure! Is that exports picking up?
In contrast, the report suggests a slight fall in demand for Hotel & Catering staff (given the weather I am not surprised).
Finance is still good for changing career direction but note Hay’s report?
In another survey, this time from recruitment specialists Robert Half UK , they found that;
- 21% of current CEO’s in the finance sector had backgrounds in engineering or natural resource industries,
- 9% had experience in retail and hospitality,
- 8% worked in marketing and advertising, 4% had come from technology roles and 6% had been in other industries.
Now interestingly a report from Hay Group says that the coercive leadership style prevalent in the finance industry is failing engage or nurture employees AND the sector is struggling to adapt to its new environment due to leadership, reward and recruitment practices holding back performance, new research suggests.
Rather aggressively the report also says that financial services firms ‘typically attract and recruit individuals with relatively low emotional intelligence.’ The rightly suggest that this has created an incoming generation of managers more focused on their own achievement than inspiring others, which has been cemented by reward practices that support short-term results.
Thanks to All Executive Jobs and CV Trumpet for bringing these reports to my attention.