Companies are favouring to train their existing employees over recruiting new members of staff, leading to a decline in the number of job vacancies for the second month in a row, according to a recent survey by Adzuna.co.uk.
Figures released from the survey on 1st March show that there was a drop in the number of vacancies being advertised by 165,000 between November 2015 and January 2016. Just over a million vacancies were advertised in January, 7.3% less than in December. The main sectors seeing the decline are finance and manufacturing, with recruitment company Hays also seeing a decline in the property and construction sectors, as well as in local government during the last six months of 2015.
One reason for the decline is that companies are now focussing on investing in their existing staff and promoting from within, leading to higher retention rates from employees who already know the policies, procedures, business strategy and the ethos of the company.
The current debate occurring over our future in the EU is also a potential reason. Until there is certainty on this, businesses are reluctant to plan any large expansions or developments, and therefore there are less opportunities to recruit.
Despite there being fewer roles available, the Office for National Statistics announced in January that unemployment is at its lowest point since 2005 with only 5.1% of Britain’s workforce unemployed.
Aspire Training Team can help your business with any training needs you may have, or if you’re considering an apprenticeship as an alternative route to your chosen career. Contact the team with any questions you may have on 01202 551553 or email email@example.com.