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11/10/2016
The UK political and economic backdrop in the second half of 2016 led to ‘unprecedented’ levels of scrutiny around headcount and hiring decisions, particularly for permanent roles in larger organisations, according to the latest figures from recruiter, Morgan McKinley. For example, a number of the larger banks kept to low volumes of hiring due to the operation of ‘critical-hire-only’ policies.
Salary increases for some professional services were healthy in 2016, but not at the ‘lofty levels’ seen in 2015 where, for example, compliance professionals could expect anything up to 20% increases. However, demand for many professionals remains high, including in the IT field, where companies looked to increase IT divisions in the fields of project management, development and cyber security.
David Leithead, chief operations officer at Morgan McKinley, said:
‘Uncertainty was the overriding sentiment in the UK business sector last year . . . Every year recruiters mark a new zenith in the rise of the specialist, and this report is once again full of examples of big wage increases being needed to attract the specialist skills that hirers seek.’