Since the start of the year, the UK has been in economic turmoil with inflation rising and continual recession warnings, coupled with a cost-of-living crisis. Strikes have continued to dominate the public sector, with protests around pay and working conditions. Whilst this seems to be reaching a conclusion there are still some concerns around the global recruitment industry.
Looking ahead to 2023
The numbers suggest that employers are still looking for people in 2023, the figures are in fact greater than where we were before the pandemic. Furthermore, specific industries can often prosper during times of hardship for example, takeaway restaurants have boomed as consumers look to make savings on higher sit in restaurant prices. Accountants can also perform well in tough times as companies may be looking for more shrewd tax savings on their revenues.
The biggest concern for an employee can be the number of potential candidates that will be applying for each role, which will often create a downward swing on pay or an acceptance of a more junior role than what the candidate may have previously been used to. This can often be harder for graduates who are just venturing out into the working world with no experience. With inflation running at 7.3% (at 1st August 2023), this will be a real terms pay cut going into the second year as pay rises have historically not kept up with the current rate of inflation.
However, the data more recently has suggested that employers have been doing more to try and accommodate for the current cost of living crisis, with some going the extra mile to keep their employees happy with flexible working, improved benefits and increased bonuses. Some have even looked toward financial guidance support so that they can help their staff manage their purses a little better during these tough times.
A Push Towards Net Zero in Maritime
With the current push to meet net zero targets, there does seem to be a push for jobs associated to meet these goals. This can provide an opportunity for those especially in the engineering sectors, including shipping jobs and other transportation and construction roles. Furthermore, with an increased focus on the environment and social responsibility this will also create avenues to retrain into these sectors or for graduates to think about how their skills can be applied into these new fields.
In transportation the new Maritime Council has been setup to look at creating new jobs, boosting trade links and minimising emissions. The council’s objective is to promote the suggestions set out in the Maritime 2050 strategy and focus the maritime industry and each country’s governments towards the shared goal of boosting the industry, increase economic growth and tackle the carbon emissions produced in the sector. This will in the long term help the industry move into a position of net-zero, with a new and well-trained workforce who are attune to best practises and share a common goal in reducing the worlds carbon footprint.