About This Research
Cogito’s quarterly State of the Labour Market white paper is designed to offer an early indication of the current outlook of the labour market for Q2 of 2022 as it pertains to employed professionals; including recruitment and hiring intentions. This white paper identifies a range of trends and projections which support both employers and candidates as they look forward to future recruitment.
Data collected for this white paper is solely quantitative and has been collected up to July 28th 2022 from a range of sources, including Office of National Statistics (ONS) and our own projects over this past quarter. ONS are the UK’s largest independent producer of official statistics, as well as the recognised national statistical institute of the UK. They are responsible for collecting and publishing statistics related to the economy, population and society at national, regional and local levels and play a leading role in national and international good practice in the production of official statistics.
- Wages are at the highest that they have ever been in UK history, however, they are still not considered enough due to the cost-of-living crisis. Salary has therefore become highly important to candidates in their job selection process.
- Hard-to-fill vacancies have empowered employees to consider what is most important to them when seeking a new role – this is forcing employers to reconsider their internal proposition when attempting to attract new candidates.
- While salary is of high importance to candidates, there is also a range of elements which are essential for their next role – the most important is the opportunity to develop through training and career development opportunities.
- In an increasingly competitive recruitment market, the importance of having a strong employer brand is becoming more prevalent. Those who are successful in this are more likely to attract and retain a higher-quality candidate.