More brands than not expect higher recruitment levels in the final three months of 2023, however roadblocks still stand in the way of reaching the similar highs seen in the first half of 2022, according to data shared exclusively with Marketing Week.
IPA Bellwether data shows a net balance of 11.6% of firms are expecting to see growth in their teams in the next three months. While expectations are still positive, this is a drop from the 15.1% who expected higher levels last quarter.
More brands are expecting to make cuts to their teams in the next three months (16.9%), an increase on the 14.1% who said the same in the second quarter. The percentage of brands keeping employment levels the same has also fallen, to 54.7% from 56.8%.
Recruitment intent falters as brands continue to feel the pinchMore than a quarter (28.5%) expect employment levels to rise, a drop from 29.2% in the second quarter, and almost a third (32.3%) in the first quarter of 2023.
Surveyed marketers say strong competition for skilled staff members is causing problems as brands attempt to attract and retain staff.
Recruitment typically hots up in September after the summer low. However, this year has not been a typical one, according to Rowan Fisk, a partner at recruitment firm 3Search, who told Marketing Week earlier this year that 2023 has been a “weird one”, with businesses waiting “for a catalyst” to start recruiting.
Businesses are also continuing to reassess their operating costs as the tricky economic climate continues, with redundancies on the table, says the IPA.