Employment rate at highest since 1971
The UK’s employment rate has hit its highest point since comparable records began in 1971 for the second successive month.
Office for National Statistics data for the three months July to September 2015, released this morning, reveal an employment rate (the proportion of people aged from 16 to 64 who were in work) of 73.7%, up from 73.6% in the June to August period.
According to the data, 31.21m people were in work, 177,000 more than for April to June 2015 and 419,000 more than for a year earlier.
Meanwhile, the unemployment rate fell to a seven-year low of 5.3% with the number of people out of work falling by 103,000 between July and September to 1.75m.
Employment rose across all age groups except 35-49-year-olds.
The fast-moving consumer goods market has weathered the storm and employers are now back on the talent trail
The recruitment needs of the fast-moving consumer good (FMCG) sector are starting to change as increased economic stability has shifted the focus onto innovation, product development and marketing.
After battening the hatches and weathering the storm for so long, many employers in this sector are now in a position to recruit the talent they need to stay hot on the heels of their competitors.
Simon Walton, managing partner and head of consumer and retail practices at Berwick Partners, tells Recruiter: “If a business is trying to achieve growth and differentiate itself, they need good people in the [sales and marketing] arena.”
He adds: “If a business is going to set itself apart from the competition, not just on price but on innovation, it needs good technical and research & development people.”
According to Scott Hutchinson, head of practice, FMCG manufacturing at Alium Partners, innovation in the food and drink industry is centered around healthy eating, and reducing fat and sugar.
The challenge, however, is getting people with the right skills into these types of roles when there is what Hutchinson describes as a “massive lack of food science students and engineering students”.
In addition, the “price wars” between retailers in the early 2000s meant that many manufacturers had to make savings with some having to axe graduate schemes. This combined with an increased number of interim technical roles, says Hutchinson, has left gaps for mid-career management roles.
Making a similar point, Adam Bailey, retail consultant – buying and merchandising at Exsurgo, says there is an “abundance” of jobs attracting salaries between £20k and £30k (such as assistant buyers and merchandisers) or between £40k and £65k, but fewer vacancies in the middle. “The young workforce is taking a lot of responsibility and there are not enough jobs in the next level up,” says Bailey.
But to attract the talent they need, many organisations are starting to realise they need to pay more, says Walton. He also noted an increase in golden hellos and counter offers to retain existing staff.
If an FMCG employer wants to fully exploit the upturn, it will have to do everything it can to attract candidates into areas of the business that are suffering from skill shortages.