Navigating Recruitment in Q4 2024

As we transition into autumn, the UK employment market continues to evolve. Here are the key trends observed by our senior recruitment specialists.

Market Growth

The UK economy has shown a modest 0.6% growth between April and June, reflecting its underlying resilience. Interest rates have remained a hot topic and businesses continue to show cautious optimism, with stabilising economic conditions fostering an environment conducive to employment growth. Positive economic momentum has enhanced recruitment confidence, encouraging businesses to consider new hires as they navigate a steadily improving landscape.

Permanent Opportunities

In recent months, we have witnessed far more preference for hiring permanent staff, compared to a previously temporary-heavy market. This shift suggests that employers are more confident and willing to commit to long-term hires that will contribute to sustained growth.

Rise of Part-Time Positions

Employers are increasingly opting for part-time positions over full-time roles to meet specific business needs, demonstrating a more flexible approach to workforce management. This is positive for jobseekers looking to return to part-time work as there is a greater expectation for full-time staff to be in the office four to five days per week.

Changing Jobseeker Priorities

Jobseekers’ priorities are shifting. While salary remains a crucial pull factor, there is a growing emphasis on work-life balance and company culture. Jobseekers looking for roles in higher-paying sectors, such as finance, are prioritising hybrid working arrangements and work-life balance over substantial salary increases. Meanwhile, young jobseekers are prioritising company values and fit. These trends underscore the importance of adapting salary and benefits offerings to better manage the different generations within the workforce.

Thorough Recruitment Processes

One notable change is the lengthier decision-making process observed among hiring managers. There is a marked increase in employers reassessing job roles mid-recruitment, which can lead to frustration for jobseekers. Companies are particular about the candidates they hire, often seeking individuals with specific industry experience or those who have held similar positions, limiting opportunities for candidates with transferable skills from other sectors.

Employers Prioritise Experience

Businesses currently have the luxury of being selective in their hiring. Employers are prioritising candidates with strong experience, which can be challenging for jobseekers aiming to break into new industries or roles. This selective approach demands increased flexibility and resilience from jobseekers.

Slower Top-Level Movement

We are currently seeing fewer top-level hires on the market. When high-level employees leave their roles, companies are reevaluating the position and whether a rehire is necessary. In some cases, businesses are moving up existing staff, giving them opportunities to progress in their roles, and instead hiring into more junior positions within the company.

As we move forward into Q4, employers and jobseekers alike must remain agile and adaptable to navigate the changing recruitment landscape.

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Author Tiger Contributor Tiger Recruitment Team