The KPMG and REC-generated UK report on jobs survey in the channel suggests that salaries have been rising because of a significant shortage of candidates.
In the post-COVID crisis, the demand for talent has been outstripping the number of people available in the market and forcing those who want to move to jack up their prices.
Kate Shoesmith, deputy chief executive of the REC, said it was a good time for people to be looking for a new job, with rewards on offer for those interested in the tech industry.
“Employers are desperate to find good candidates for the many jobs on offer and this is reflected in starting salaries rising at the sharpest rate since the survey began in 1997”, she said.
“This will likely motivate more people to be on the lookout for new opportunities. The same goes for those on temporary contracts, who are also seeing increased pay. Recruiters are working hard to fill places for employers eager to build back and recover, but their job is made more difficult by worker shortages across all sectors.”
Claire Warnes, partner and head of education, skills and productivity at KPMG UK, said it was a time for employers to look internally as well as externally for talent.
“Although companies want to invest in their business now that restrictions are lifting, demand for new staff still outstrips supply due to low candidate availability,” she said. “We know that reskilling and upskilling is needed to help people move between sectors.”
