Recruitment Market Update – What Does It Mean for Project Management?
Office for Budget Responsibility (OBR) predicts that the growth of the Office for Budget Responsibility (OBR) in 2011 has slowed, although the uptrend has begun by 2010.
Then the UK labor market? Well, the unemployment rate was surprisingly 7.7% (19459004) (2.5 million unemployed), compared to 11.9% in the 1980s and 10.7% in the 1990s. The unemployment rate is 5.3% in 2007, the booming and profitable time of the recruitment industry.
Real Job Creation There is a general consensus in the industry that no real job creation will occur until GDP exceeds 2.5-3% and is not expected to happen until 2012. The final GDP figure is only 0.7%.
Unemployment benefits REC believes that recovery following this recession is different for two main reasons.
- The employer found another way to reduce the cost of people by hanging on their talents.
- For example: Reduced overtime; Short time days; No salary freeze and bonus; 19659008]
- Continued use of flexible resources
- How much temporary, medium and contract workers account for about 5% of the UK workforce? It also means that UK productivity is declining – at least in the decade – with extra production capacity.
All of this led to a reduction in liquidity in the market . Liquidity is the name given to those who change people, and this recession has greatly reduced the jobs that change people. The UK labor market needs people to change jobs to create a domino effect that starts a thriving recruitment market.
The good news is REC believes we have started to see a slight increase in liquidity.
Employer's view REC also regularly examines organizations to find out their views on the labor market and says, "Confidence is on the rise, hiring is halted and more jobs will be done in the next three to 12 months" 19659002] The UK recruitment industry is convinced that more than 74% of those voting on webinars think the UK recruitment market is actually starting to recover.
In 2011, the CEO of the Bouyant division REC shared his thoughts on the areas that he thought would be highlighted by 2011.  Technology – already seeing rapid growth of permanent and temporary employment
- Financial services – related industries, such as insurance
- Sustainable energy
- Oil and gas – not significantly affected by recession
- Assets created by intangible assets
- Organizations (70% of Fortune 500 companies) know their assets and brands are creating their own assets and profitability. 75% of CEOs surveyed by Monster.com think it's getting harder to appeal to their talent for their organization.
- Transition to Freelance
- In a survey of 16-25 year-olds, 86% thought they would be employed when they were freelancers or self-employed. The benefits of managing your caregiver are considered one of the main attractions.
- Social media is on the rise for job search.
- What is interesting is how an organization responds to new ways of trusting to attract the right talent.
Labor Trends There were three points about the general trend of the labor market, which is worth sharing with the UK project management market.
Project Management Labor Trends Arras people are busy creating a 2011 project management benchmark report that addresses current project management workforce trends.
If you want to see this information in early February 2011, take the survey (it takes about 8 minutes). You will receive a full report. The full report will not be available until mid-2011 for people who choose not to participate.