Labour Market Outlook Spring 2021
Job optimism among employers leaps to eight-year high, finds CIPD/Adecco Labour Market Outlook survey.
Findings from the most recent Labour Market Outlook from CIPD and The Adecco Group have found that the net employment intentions for Q2 has risen sharply to +27 from +11 in the winter 2020/21 report. This is due to both a halving of redundancy intentions, down from 20% to 12%, and a rise in recruitment intentions. Based on a survey of 1000 UK employers the findings from the report indicate that:
The proportion of organisations planning to recruit in the three months to June 2021 has risen to 64% - the highest level since the February 2020 Labour Market Outlook.
There has been a sharp increase in hiring intentions among the worst affected sectors during the pandemic.
The proportion of employers intending to make redundancies continues to fall. Just over one in ten (12%) expect to cut jobs during the next three months, down from 20% in the previous quarter. This is consistent across all three sectors of the economy.
Gerwyn Davies, Senior Labour Market Adviser at the CIPD, the professional body for HR and people development, comments:
“More jobs and improved pay prospects should give us all reason to cheer, but a solid jobs recovery must be focused on better jobs, not just more jobs. To offset the emerging threat of recruitment difficulties, employers should be reviewing not just their recruitment practices, but also the quality of work they offer – such as employment conditions, the possibility of promotion, training opportunities and the right balance of flexibility and security. There’s more to good work than raising wages.”
Alex Fleming, Region President of Northern Europe at Adecco, comments:
“It is really encouraging to see that all indicators of recovery are positive in this quarter’s Labour Market Outlook, as we continue working towards the new era of work.
“The need for up/reskilling prospects and improved access to opportunity is only set to become more pertinent, particularly for those who are re-entering or looking to enter into the world of work for the first time. Therefore, future business strategies must be built on the foundations of social mobility and inclusion, which will not only help to strengthen talent attraction and retention levels but also ensure companies remain resilient in the critical months ahead.”
The CIPD Labour Market Outlook, in partnership with Adecco Group is one of the most authoritative employment indicators in the UK. The partnership with CIPD supports Adecco Group’s aim of providing fresh insight and deeper understanding on the workforce management and recruitment challenges facing its customers and the wider business community by building strategic links with professional organisations and academic bodies. The partnership between CIPD and The Adecco Group, now in its sixth year, was developed and scoped out by b2b. We worked closely with CIPD to shape the partnership opportunity and then secured the partnership with The Adecco Group. To read the full report click HERE. To find out more about how b2b developed this partnerships and how we can help you in partnership development please contact firstname.lastname@example.org