UK hiring confidence at a two-year high

With hiring confidence reaching a two-year high, over half of UK businesses are optimistic about recruitment for the next quarter.

The Totaljobs Hiring Trends Index found that the industries with the most hiring confidence for Q3 are:

• IT and telecoms (74%)
• Media/marketing/advertising/PR and sales (74%)
• Construction (72%)
• Finance and accounting (69%)

The report also revealed that there has been a drop in the average time it takes to hire – in Q1 2023 it took an average of 6.4 weeks to hire, whereas Q2 saw this timeframe drop to 5.8 weeks.

More than one in ten businesses said that they have been using Artificial Intelligence to help both streamline and speed up the recruitment process.

Julius Probst, European labour market Economist at Totaljobs, said, “Inflationary pressures are prompting candidates to explore opportunities with higher salaries elsewhere, leading to increased movement within the job market.

“This heightened mobility underscores the growing battle for talent, and the need for businesses to exert additional effort in attracting and retaining the skilled professionals they require.

“Businesses are recognising the value of leveraging AI technology to streamline their hiring procedures and improve efficiency.

“As the job market evolves, it is imperative for businesses to embrace innovative solutions like AI to stay ahead, streamline processes, and secure the talent they need.  By combining strategic talent management approaches with the integration of AI, organisations will be better placed to achieve their recruitment objectives in the current climate.”

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