Employers in the UK more optimistic about 2021 than employees
Global professional and financial services recruiter Morgan McKinley has released its new look, interactive 2021 Salary calculator showing hiring managers what to pay employees and giving professionals a benchmark on what they can expect to earn.
To launch the new salary calculator, Morgan McKinley surveyed 1,087 UK employees and employers about the ‘World of Work’ and found that there is a confidence to hire in 2021 from organisations, but professionals did not share the same level of optimism.
The survey revealed over half (53%) of employers expect their organisation’s activity levels to increase over the next 12 months, whilst only one in four professionals believe that hiring will return to pre-Covid-19 levels in the same period.
Similarly almost half of employers (49%) feel confident that they will be in a position to offer pay rises in 2021, whilst only 22% of employees are optimistic about being offered an increased salary.
David Leithead, chief operations officer of Morgan McKinley UK commented: “This optimism about a hiring resurgence from over half of employers surveyed is promising to see and should instill confidence in jobseekers that there are opportunities out there.”
“Those companies who think they won’t be hiring in 2021 could have a tougher year ahead of them than even they expect, because their number one priority right now should be looking at their talent. Competition for talent, and the wage inflation that goes with it, will be as hot as ever – maybe even hotter – as we come out of Covid-19. This means those companies trying to focus only on retention will face a battle with the companies who are going into the hiring market with a positive story .”
Alongside perceptions of a hiring resurgence, respondents were also asked about the importance of new skills in the coming year. Both hiring organisations and professionals agreed that there will be a need for new skill sets in 2021, with 68% of employees planning to upskill in their area of expertise and over 50% of employers displaying an appetite to hire for specific skill sets to react to market changes and adapt to the changing environment.
David Leithead continued: “Any organisation or any good leader must have talent acquisition and talent management at the top of their strategic priority list, whether that’s hiring new skill sets externally or retaining existing team members by offering professional development opportunities. Leaders should not rest on their laurels when it comes to their talent. We know that talented people will always be in demand; regardless of whether a company is trying to recover from a crisis or maximise their performance. ”
