Our latest market report, crafted by the Talent Intelligence Unit and powered by JobBrain and Candidata, provides a detailed look into the wider shifts we're seeing in candidates and the job market since the middle of 2023. There are streams of juicy statistics and insights to chew on, but if you're short on time and want just a handful of interesting stats to send on to colleagues, we've got you covered!
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41% of job seekers are on the hunt for career progression
This statistic highlights the importance for organisations to offer clear career advancement opportunities to attract ambitious talent. A significant change was seen throughout 2023 concerning the reasons for job seeking. It was career change in the first half of 2023, then career progression in the second half.
70% of recruitment efforts focus on new roles due to business growth
Reflecting a positive job market outlook, this figure shows companies are actively creating new positions, signalling opportunities for job seekers and businesses alike.
Whilst there are signs the labour market is stabilising and the scarcity of applications is easing, finding the right people at the right time remains challenging.
67% of UK employers see AI as a creator of new job opportunities
Moving past the fear of job displacement, this reveals a trend where AI is viewed as a tool that opens up new roles, blending technology with human skills.
42% of organisations face challenges filling vacancies due to skill shortages
This points to a significant skills gap in the market, emphasizing the need for targeted training and development programs.
83% recognise the need for new skills to adapt to AI and automation
As technology evolves, so does the necessity for the workforce to upskill, highlighting lifelong learning as a key component of modern employment. We've spoken about this before - particularly with recruitment!
A crucial aspect of integrating AI into recruitment is maintaining the human element. While AI excels in automating administrative tasks, it cannot replace the human touch that is essential in recruitment. A recruiter’s ability to sell a job, engage with hiring managers, and nurture relationships remains paramount. Thus, AI should be seen as a tool that complements human skills, not as a replacement.
90% of jobseekers value ED&I policies when choosing an employer
This statistic underscores a shift towards workplaces that are not only diverse and inclusive but also align with candidates' values.
78% of full-time roles show a gender pay gap
A call to action for organisations to address gender pay disparities, this statistic highlights the need for continued efforts in equality. Despite a growing focus on ED&I from employers, the public persona or message is not always lived up to. Too often it’s all too easy to include something in a job advert but other aspects of the organisation, whether it’s working hours, culture, facilities, don’t match up.
70% of job adverts leave out flexible working options
Despite high demand for flexibility, many organisations still don't promote this benefit, potentially missing out on a wider talent pool.
35% of Gen Z prefer a varied career path
This reflects the desire among younger workers for diverse experiences, challenging organisations to rethink traditional career paths.
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24% of employees would leave if lacking development opportunities
Stressing the importance of growth, this figure suggests that professional development is key to retaining talent.
And that's a wrap! If you want a full deep-dive into what our team learned, feel free to download the full report here.
By aligning recruitment practices with the evolving preferences of today’s workforce, organisations can position themselves as attractive employers in a competitive landscape. The full report goes beyond these statistics, providing a comprehensive analysis and actionable recommendations for navigating the complexities of talent acquisition today.
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For a deeper dive into these findings and to explore how they can inform your talent acquisition and management strategies, downloading the full report is a must! It’s an essential tool for anyone looking to understand the future of work and excel within it.
Whether you’re focused on attracting skilled candidates, fostering employee growth, or adapting to rapid market changes, our latest market report is your guide to success in 2024 and beyond.
Download the full report today and take the first step towards transforming your organisation’s approach to talent management.