War for talent returns as job applications fall

With the UK seeing a 20% rise in vacancies in Q1, applicant numbers rose by just 4% in the same period, showing that the war for talent has made a return to the recruitment market.

The Broadbean Technology data also revealed that sectors that have historically noted a skills shortage – IT and Life Sciences, for example – have seen a reversal in supply versus demand following an initial decline in vacancies and increase in applicant numbers at the peak of the pandemic last year.

Alex Fourlis, Managing Director at Broadbean Technology, commented, “It’s incredibly encouraging to see such a strong recovery in vacancy numbers over the past few months and certainly suggests that the recovery from the pandemic is well underway. However, while our data shows that the UK jobs market is returning to normality, it is surprising that in the first three months of the year, employers actually received less applicants per job compared to the same period last year.

“And while we can’t say whether the war for talent we are seeing in some sectors has returned for good, there are clear signs that the struggles employers had faced sourcing hard-to-find skill sets in areas that have notoriously faced a dearth of talent – including tech and life sciences –are starting to surface once again. It will be interesting to note how his plays out over the coming weeks and months, but one thing is for sure: we are starting to see parallels to the pre-pandemic employment landscape.”

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