What does the economic and local recruitment landscape look like moving into 2023?

Every year Appointments Personnel carries out an in-depth review of salaries being offered in the local area to give some valuable insights for employers and jobseekers on the current recruitment landscape in our area. This year the survey follows a period of exceptional demand for candidates with employers competing to attract the best talent. Some reports indicating some businesses offering new recruits higher salaries than existing employees.

As interest rates continue to rise many are feeling the impact on their household bills and finances and are considering whether they need to move to higher paid jobs. The Bank of England’s recent increases in interest rates means they are the highest they’ve been for 14 years (September 2022), with predictions of rates reaching 6% by next year. Families are struggling to balance incomes against their outgoings as they feel the impact on prices, bills, mortgage repayments, credit cards and outstanding loans.

In this volatile economic climate, more are asking their employers to increase salaries to help them bridge the gap or begin to look at higher paid jobs on offer elsewhere. However, UK businesses are also under pressure. As inflation impacts on the cost of fuel, raw materials and parts, one in three businesses say they are unable to increase salaries again.

Businesses in Staffordshire and Cheshire face a fine balance as they continue to manage their salary overhead amongst other spiralling costs, whilst retaining talent with competitive wages and benefits packages.

Many recruiters and applicants ask us for advice on what salaries they should offer or expect in today’s competitive recruitment market. As a local recruiter we’ve used our knowledge of the local job market and the feedback we get from both our clients and candidates to give you an insight into how this is impacting salaries in the local area in our salary guide.  The guide will help you to gauge how your benefits compare to other businesses in your sector and what sort of renumeration you should be offering on new jobs.

In addition to providing a salary benchmarking tool the guide gives you a taste of what other benefits are being offered too. Offering other perks like working from home or being more flexible, and making sure your employer brand is attractive will also help you become an employer of choice.

For more valuable insights on the current local recruitment landscape in our area and the latest recruitment trends, download our 2022 Salary guide here. Gives us a call to get support for your recruitment activity on 01782 338787.