According to the ONS. With the cost of living going up this can only be expected to rise as demands for higher salaries often outstrip what SME’s can afford to pay. Add that fact to the other rising demands being added to jobseekers wishlists such as increased benefits (holiday allowance, better pensions and flexible working) and it’s making it harder than ever to attract talent.
Skills shortages are also a common factor. The middle market has always been notoriously difficult to recruit for. Economic uncertainly often makes people wary of dipping their toe into the employment market or taking a risk on a growing business. But there is light at the end of the tunnel. As with most recruitment and financial downturns, this will be cyclical. The market will stabilise and people will regain confidence to search out something new. You just may have to factor in longer timeframes into your recruitment planning or reconsider the package / requirements for the role in the interim.