The latest ManpowerGroup Employment Outlook Survey indicates UK employers are applying calculated, chess-like hiring tactics to their recruitment plans for the coming quarter (April – June 2024), as backfilling roles and economic caution lead some to maintain a defensive stance, while others are going on the offensive and creating new positions in anticipation of future growth.
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Although women are increasing their global economic power and entering the workforce in greater numbers, true gender parity is still far from a reality. In 2023, for every 100 men promoted from entry level to manager, just 87 women were promoted. Coupled with the fact that they often desire more flexibility than leaders are willing to give, 60% of women are considering leaving their current roles in 2024.
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Data from the latest ManpowerGroup Employment Outlook Survey of UK hiring managers indicates that cross-sector skills gaps have reached a record 18-year high of 80% nationally, whilst hiring plans for Q1 2024 remain cautious-yet-steady, quarter-on-quarter, with a net hiring intent of +27%…
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Over the past year, we’ve witnessed a dynamic shift in the economic landscape, from a post-pandemic boom, to talks of a recession, to a gradual reduction in demand. However, amidst these fluctuations, one constant remains: strong hiring intentions.
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UK employers indicate hiring confidence remains positive for every sector in the fourth quarter 2023, with a slight decrease of two percentage-points since last quarter to +27%, according to the latest ManpowerGroup Employment Outlook Survey (MEOS).
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Employer hiring confidence has grown in almost every sector, rising by eight percentage-points to +29% since last quarter, according to the latest ManpowerGroup Employment Outlook Survey. The ManpowerGroup Employment Outlook Survey is based on responses from 2,013 UK employers and asks if they intend to hire additional workers, maintain current headcount, or reduce the size of their workforce in the coming quarter (July to September 2023).
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UK employers report a buoyant labour market with the Net Employment Outlook rising to +21%, up two percentage-points since last quarter and down ten percentage-points on Q2 2022. In the context of record low unemployment and a historically tight labour market, employers continue to struggle to attract skilled talent, and in demand workers can’t find employers that fit their pay and skills needs. ManpowerGroup is advising employers revisit their essential skills requirements and consider what can be learnt on the job.
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We believe we are embarking on a New Human Age — a time where people are utilising technology and digital tools to enhance human connections, be more productive, and live more meaningful lives. In our latest report, The New Human Age Workforce Trend Report, we explore the workforce trends that are accelerating The New Human Age and key insights impacting talent demands and the workforce.
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In the context of high inflation and an economic downturn, UK employers have signalled they are determined to keep hiring in the New Year with the Net Employment Outlook remaining positive at +19% for Q1 2023.
The ManpowerGroup Employment Outlook Survey is based on responses from 2,030 UK employers and asks if they intend to hire additional workers, maintain current headcount, or reduce the size of their workforce in the coming quarter (January to March 2023). It is the most comprehensive, forward-looking employment survey of its kind and is used as a key economic indicator by both the Bank of England and UK Government.
Although UK employers intend to keep hiring at pace to maintain productivity and business as usual, the latest Outlook does mark a decline of five percentage-points on Q4 2022. With a stretched and tightened labour market to contend with, retaining skilled talent will be a key priority for many organisations.
“Talent retention is going to be a battle for most employers this year” says Chris Gray, Director at ManpowerGroup UK. “We’re seeing hiring cool for the third quarter running, but the demand for skilled talent is still outstripping supply – meaning employee choice over their working conditions and workplace remains high, resulting in job-hopping for better skills training and benefits.
“This situation can be likened to a leaky bucket – employers have to keep hiring at pace just to maintain position and not lose out amidst an ongoing skills shortage.”
The next generation of consumers expect businesses to have a point of view on societal and environmental issues, and to be doing right thing for people, communities and the planet. With more focus than ever on progress over pledges, organisations must move beyond target-setting to accelerate meaningful advances against Environmental action, Social impact, and good Governance (ESG).
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