This year we have seen the employment market completely flip on its head.
We are in the middle of a boom, the most buoyant hiring market in our 20-year history. That’s great news if you’re considering a move, the likelihood is that you can now ask for 15% - 20% more than you would have been able to last year. So, in short, it’s pay rise time!
Companies are now hiring like mad and they are scrambling to find the best talent ahead of their competitors. Incredibly, we are now in a position where there’s a massive talent shortage and supply and demand dictates salaries must rise.
Why is this happening?
After all, you’d think that there would be lots of people still searching for roles having lost their jobs during the height of the pandemic. Well, there were, but most have now been rehired.
- A lot of people found jobs at the beginning of the year
- Those employees on furlough are waiting to see if they are retained by their employer.
- Candidates have switched career paths during covid, meaning less skills in certain areas.
- Lots of companies put their marketing on hold and cut spend, only to turn the tap on again at the beginning of the year.
It’s not just salaries that are changing up…
Companies are having to incentivise candidates in other ways too. In particular you can now expect
- Flexible working – most companies are offering a couple of days from home
- Better perks in the form of unlimited holiday, higher pension contributions, bonuses and dedicated funds for CPD.
If you’ve been considering whether now is a good time to move jobs, you can rest assured, it is! IN fact, this could be the best time for many years.
If you’d like to find out how well you could be doing now, please get in touch with Stonor!