Starting Salaries Rise at The Fastest Rate Since 2015

Starting Salaries Rise at The Fastest Rate Since 2015

The latest REC (Recruitment Employment Confederation) monthly survey has shown that salaries for workers moving into new permanent roles in May increased at their fastest rate since 2015. This is a continuing trend from previous reports that have consistently shown an increase in the demand for skilled staff. Allied to this, there is a continued fall in the number of suitable candidates available, particularly in sectors such as engineering, manufacturing and IT.  Indeed, increases in engineering salaries were increasing above inflation wage rises.  Pay for people starting new temporary jobs also continued to rise. 

However, it is important to remember that final salary levels in the UK are also affected by the staff who are awarded pay rises to stay in their current jobs and this has always been an area that experiences slower rises than a new employee would expect when moving jobs. 

In wider economic news, this month has also seen that the latest figures from the Office of National Statistics (ONS) have concluded that manufacturing and construction output fell between February and April, with manufacturing experiencing at its fastest falling rate since 2012.  The National Institute for Economic and Social Research (NIESR) has also stated that growth between March and May 18 was just 0.2% which suggests that economic growth is still slow and has not yet “bounced back” as the Bank of England suggested that it would.

At Intro Personnel, we fully appreciate that all companies have budgets to work towards and that it is often not as simple as raising wages to attract a better calibre of employee.  Therefore, we would encourage clients to look at other ways of attracting people which could include offering flexible working hours and more opportunities to progress internally once a new employee proves themselves.  We would be happy to speak to any business that would like advice on this subject. 

Further reading can be found at https://www.rec.uk.com/, https://www.ons.gov.uk/ and https://www.niesr.ac.uk/

Intro Personnel are proud to be members of the REC. 

Another Intro Anniversary!

Another Intro Anniversary!

The 27th May will see the 4 year anniversary of Nichola Hubball joining Intro Personnel. Nichola joined Intro from college as an Apprentice Administrator and since then has been promoted twice into her current role of Recruitment Assistant. Her role at Intro Personnel is to identify suitable candidates for our wide range of temporary and permanent roles and to conduct telephone and face to face interviews to assess suitability for relevant positions. Nichola has made a highly valued contribution to Intro Personnel’s year on year success and we would like to take this opportunity to thank her for her continued hard work.

Congratulations Nichola!

Intro Personnel Anniversary!

Intro Personnel Anniversary!

This week sees the 4 year anniversary of Melissa Fenton joining Intro Personnel.  Melissa has worked for over 15 years in recruitment and her role at Intro Personnel is to identify suitable candidates for our wide range of temporary and permanent roles and to conduct telephone and face to face interviews to assess suitability for relevant positions.  Melissa has made a highly valued contribution to Intro Personnel’s year on year success and we would like to take this opportunity to thank her for her continued hard work.

Happy anniversary Melissa!

National Minimum and Living Wage Rises as of April 2018.

National Minimum and Living Wage Rises as of April 2018.

The National Minimum and Living Wage for workers within the UK has increased as of 1st April 2018. National Minimum/Living Wage is categorised in age ranges, please see a table below for the new NMW/NLW as from April 2018.

Year 25 and Over 21 to 24 18 to 20 Under 18 Apprentice
April 2018 £7.83 £7.38 £5.90 £4.20 £3.70

For more information or previous years rates, please visit https://www.gov.uk/national-minimum-wage-rates

The Easter Bunny has arrived at Intro Personnel!

Eggcellent News!

The Easter Bunny has delivered Easter eggs to the Intro Personnel office, ready for them to be delivered to The Donna Louise Trust this week!

The Easter eggs will be delivered just in time for Easter weekend, and here at Intro Personnel we are sure that they will be thoroughly enjoyed.

Happy Easter from all at Intro Personnel!

Spring Statement – Job Market Impact?

Spring Statement – Job Market Impact?

It may not have been the longest speech that Philip Hammond delivered last week but it was a message of continued economic development with further future growth predicted.  The economy has grown for five consecutive years, and exceeded expectations in 2017, leading to the OBR (Office for Budget Responsibility) increasing their forecast for growth in 2018.  Employment has increased by 3 million since 2010, which is the equivalent of 1,000 people finding work every day.  Borrowing has fallen by three-quarters since 2010.  In 2009/10 the UK borrowed £1 in every £4 that was spent. The OBR expect that we will borrow £1 in every £18 this year and debt will start falling as a share of GDP next year.

It is still important to remember that the UK’s debt remains too high, equal to around £65,000 per household which makes the economy vulnerable to future shocks and future generations will feel the burden of this unfortunately.  The cost of debt interest payments is around £50 billion each year – more than the amount spent on the police and armed forces combined which is quite a sobering statistic.

With a falling level of inflation and an increase in wages, how does this impact on the employment market?

As our March mailer shows, next month has an increase in the National Living Wage.  This will impact on those businesses that employee staff on such salaries.  However, it is clearly good news for such staff that are currently on £7.50 per hour.  The unemployment rate is close to a 40-year low and the OBR predict there will be over 500,000 more people in work by 2022 which is good news.  There was further positivity for the manufacturing sector as it has apparently achieved the largest unbroken run of economic growth since the late 1960’s.  Hopefully this can continue amidst the national skills shortage in the UK.

Finally, the government has also invited small business to give their views on the impact of the current VAT threshold of £85,000 as some have expressed concerns that it has an impact on business growth.  For those interested in participating, the link for the survey is https://www.surveymonkey.co.uk/r/W7TLCZ7 and is open until 5th June 2018.

Further reading can be found at https://www.gov.uk/government/news/spring-statement-2018-what-you-need-to-know