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More Than Half Of UK Firms Plan To Hire New Staff

More than half of UK firms plan to hire new staff

According to a news article from the BBC, Human Resources body CIPD have stated that this is the first positive sign for the employment and recruitment industry that has been projected in the last year since the country entered it’s first lockdown.

https://www.bbc.co.uk/news/business-56149661

56% of 2,000 firms surveyed planned to hire in the first 3 months of 2021

Which industries will be hiring in 2021?

The sectors reporting these projections were mostly in the healthcare, financial, insurance, education and IT industries, which have continued to operate throughout lockdown thanks to supply and demand stability.

Which sectors have been most affected by unemployment?

Other industries have suffered greatly over the past year. Industries such as entertainment, travel, food, leisure & tourism have not been so fortunate, there is expected to be a surge of vacancies becoming available as the country returns to a state of normality. Prime minister Boris Johnsons step by step plan to ease lockdown in stages should help these industries prepare accordingly. Only 36% of hospitality employers were intending to recruit new staff, the CIPD and Adecco found.

Employment predictions for 2021

According to previous statistics, employment figures for temporary roles started to improve as early as December, which is likely to have been fuelled by holiday shopping & activities for Christmas coupled with Brexit concerns. Although predictions for 2021 initially indicated that the unemployment rate could peak at around 7.75% in late spring/ early summer, a more recent study has found that the number of firms planning to make redundancies in the first quarter of 2021 dropped from 30% to 20%, compared with the previous three-month period.

Why have the 2021 employment predictions changed?

According to figures released by the Insolvency Service in response to a BBC Freedom of Information request, some 292 British employers made plans to cut jobs in January, the lowest figure since the pandemic began. Many speculate that this is largely in part to the extension of the furlough scheme and the efficiency at which the Covid-19 vaccinations are being administered.

Could unemployment figures rise in 2021?

We are all familiar with how unstable the country has been, and while things appear to be taking a turn for the better with infection rates dropping, there is always the possibility of numbers increasing again, especially if a new Covid-19 strains begin to thrive. There is always a chance that the planned end of lockdown date could be extended, so businesses need to be flexible and employees need to seek financial stability where possible.

Summary

To end on a high note, we all need to do our part to ensure we are not contributing to the infection rate. Even after lockdown, keep distance where possible where any necessary PPE maintain exceptionally high levels of hygiene. Only through protecting ourselves and each other can we return to ‘normality’.

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