'Pause for thought' | ONS report of rise in vacancies leads to calls for focus on training and retention

In a time of economic worry, a cost-of-living crisis and where it might feel that the jobs market is in crisis too, new figures from the ONS appear to bring a ray of sunshine into a previously gloomy situation...

The ONS figures show that the number of payroll employees is now above pre-pandemic levels, with the number of vacancies in March to May 2023 at 1,051,000, a decrease of 79,000 from December 2022 to February 2023. It was the 11th consecutive period that vacancies had fallen – surely good news...

However, many business leaders have warned that rather than resting on the information as ‘good news’, companies need to do more to retain, train and encourage new staff through clear talent support and programmes.

Those who responded to the survey cited economic pressures as a factor in holding back on recruitment, leaving the question as to whether the rise in vacancies is a cause for celebration, or merely an indication that things are moving in the right direction but need to keep moving, and possibly move faster?