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Record Vacancies Mean Businesses Must Innovate

November 15, 2018

The latest labour market report from the Office for National Statistics reveals that there were a staggering 845,000 job vacancies in the UK during the period of August to October 2018, the highest since records of this type began in 2001.

Year on year, the number of vacancies increased by 44,000 for the same period and, if further proof was needed of the upward nature of the trend, there were 14,000 more openings than in the preceding quarter.

Tom Hadley, Director of Policy at the Recruitment & Employment Confederation, commenting on the Office for National Statistics figures said: “Employers across many sectors are continuing to experience fundamental challenges in finding the staff and skills that they need.

"We already have record numbers of vacancies and the signs are that these skills shortages will further intensify over the next few months as EU workers no longer find the UK an attractive place to work. Businesses will need to work with recruitment partners to innovate and review current hiring strategies, particularly with regards to reaching out to under-represented groups."

Hadley's assertion that employers need to be more creative in their approach to talent acquisition is a view shared by Graham Brown, Managing Director of Forces Recruitment Services, who has seen at first hand the benefits of looking beyond the conventional.

Brown explains: “Labour market conditions are such that there is a very real battle for top talent. Jobseekers are more selective and, as the latest ONS report clearly demonstrates, opportunities are plentiful. Recruiters need to work smarter, be open to new ideas, and not simply rely on the standard issue methods.”

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