Use the skills shortage to your advantage
What will the job market look like in 2023? The UK continues to face a backdrop of skills shortages which are arguably fiercer than ever. Hays explains what this could mean for your career.
How can you maximise your career opportunities against the backdrop of skills shortages?
Data from our latest Hays UK Salary & Recruiting Trends survey found that 93% of employers say they’ve experienced hiring difficulties over the past 12 months, increasing from 86% in 2021 and 77% in 2020.
There’s a whole host of reasons why skills shortages have hit a peak, including unemployment being at its lowest rate for a long time. Additionally, a proportion of the workforce hasn’t returned to the labour market post-pandemic.
So, what does this mean for your career over the next year?
Benefits are more important than ever
Employers are squeezed when it comes to wage increases as the majority are having to continually increase pay to attract talent, retain their workforce, and keep up with the rising cost of living for staff.
Although the right salary is crucial, especially at this moment in time, employers are keen to consider other factors which will attract staff to work for them and stay. This includes offering hybrid and flexible working, transparent career pathways and supporting your well-being as an employee.
If you do choose to move on, your current employer is likely to take an interest in what’s encouraged you to make a move. Interestingly, when we asked the respondents to our latest survey what made them leave their last job, three of the top answers were: the job wasn’t fulfilling enough, there was a lack of career opportunities and the work-life balance was poor.
When looking for a new role, take the opportunity to discuss your desire for career development during the interview stage. Make sure the employer can communicate what opportunities are available to you within their business and how they’ll support your learning and development to help you reach your career goals.
Furthermore, employer focus is shifting to a continuous learning culture to help both attract and retain good staff. Ask potential employers if they support continuous learning. Do they invest in formal training? Are staff given time to shadow colleagues or attend industry seminars? Do their training initiatives align with your own goals?
What is the employers evp?
Another significant shift we’re seeing, supported by our data, is professionals want to work for and stay with businesses that have a clear purpose. They want an employer who is doing good, and who can support the fulfilment of what you do outside your day-to-day role.
In our last survey, a huge 85% of professionals told us that an organisation’s purpose is important to them when considering a new role.
Considering the Employer’s Value Proposition (EVP) will give you an overview of why behind what they do and gives a flavour of the workplace culture that exists. Look for employers that invest in their workforce, and that seek to make their workplace inclusive.
Discover our latest salary guide today
We’ll help you build a future-proof career in accounting and finance. Hays UK Salary & Recruiting Trends provides you with unmatched key insights into employment trends. It details how salaries and benefits are changing, whilst focusing on the importance of flexible working, diversity and inclusion, sustainability, and organisational purpose, plus much more.