Finance sector among best industries for hiring in 2020
If you’re looking to expand your team this year, then you are in luck! The latest report from CV-Library, the UK’s leading independent job board reveals that job applications in the finance sector have increased by 8.5% in the last year.
The report from CV-Library analysed job market data throughout 2019 and compared it with statistics from 2018. It reveals that the finance industry saw the ninth biggest jump in applications year-on-year, with the top 10 including:
1. Hospitality – job applications up by 28.8%
2. IT – job applications up by 28.6%
3. Construction – job applications up by 23.4%
4. Design – job applications up by 16.7%
5. Property – job applications up by 15.3%
6. Legal – job applications up by 14.5%
7. Engineering – job applications up by 13.4%
8. Marketing – job applications up by 12.9%
9. Finance – job applications up by 8.5%
10. Education – job applications up by 5.1%
A key driving factor behind the jump in applications may well be the fact that average pay in the finance sector jumped up by a staggering 48.2% in 2019.
Lee Biggins, CEO and founder of CV-Library commented: “Despite severe political and economic uncertainty over the last year, it’s positive to see that the finance industry has continued to grow. The fact that this is an ongoing trend across several sectors should instil confidence in employers who may have put their recruitment plans on pause in the run up to the election; especially as January is consistently one of the best times to hire.”
The report also shows that businesses in the finance industry were advertising more roles in 2019, with the number of job adverts increasing by 6.2%. This could mean more competition for employers, as organisations battle it out to secure top talent. This increased level of competition could also explain the significant hike in wages, as business try to make their roles stand out.
Lee Biggins continues: “While competition for jobs may be higher in some sectors, this increase in job applications is great news for businesses looking for new talent. Don’t wait to take advantage of this growth and start advertising your latest job roles now.
“If you’re worried about attracting the best candidates in highly competitive industries, don’t panic. You can still make the most of this influx of applications by posting your vacancies to job boards and working with suppliers to ensure your roles are a cut above the rest