'Chronic' UK skill shortage at a post-recession low

'Chronic' UK skill shortage at a post-recession low

The "chronic" talent gap grew to a post-recession record-low in August.

There were 0.62% applicants per advertised role in August, which is the lowest number since the recession. That number has gradually decreased since March of 2015 when there were 0.8 jobseekers per vacancy, according to a new report from Adzuna.

Andrew Hunter is the Co-Founder of Adzuna. He says: “The number of jobs available in the country has reached a two-year high reflecting the desperate need for skilled workers in the UK labour market.

“A chronic skills shortage in country helps to explain why there is such a high number of vacancies and yet growing unemployment levels.

“Finding the right person for the job, with the necessary skills and experience is not getting any easier. Vacancies are lying unfilled for longer, as new talent to meet rising demand has all but dried up.”

The skill shortage grew as British companies have been shifting their staffing strategies from recruiting to retaining staff.

It is therefore no surprise that the salaries of HR professionals are increasing as the war on talent is heating up.

The average advertised salary for a HR professional increased by 3.3% in August 2015 to £30,767 from £29,752 in August 2014.

Hunter comments: “Businesses are beginning to value a good HR department more than they have in the past, as they respond to the talent shortage with new tactics.

“It’s getting harder to source skilled workers in the UK for industries such as trade and construction and IT, even though there are many vacancies on offer.

“An easier option than hoping new workers are the right fit, is for companies to invest in HR, ensuring happy employees and first access to fresh talent as it appears in the market.”

The average advertised salary in the UK was £33,318 in August. It had shrunk from £34,463 in the same period in 2014. The waged for those in work rose significantly by 2.9% over the course of a year.

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