Private recruiting firms have reported a sudden surge in salary hikes, as the UK undergoes its highest pay inflation in two decades.
“15% is the minimum pay rise we’re seeing. While some are increasing their salaries by up to 50%, Unless something significant happens, 2022 should be even better for staff ”, said Alan Bannatyne in an interview with the BBC.
He also added that there has been a high demand for better jobs in high salaried posts. Thereby, causing people with staffed jobs seeking for higher-income companies.
The job openings for such posts have created a major stir on the recruitment firms, making it an all-time record level high, where employers are having a difficult time meeting the demands.
This was an unprecedented state since the UK economy reopened after the pandemic’s effect on the economy.
According to the chief financial officer at a recruitment agency Robert Walters, there has been additional pressure on firms.
Where they specialize in providing placement to professionals with talents, procuring the right person fit for the role.
“Bricks-and-mortar retailers and airlines have really struggled so will probably not be paying bonuses or giving pay rises,” said Mr. Bannatyne.
“So they become a hunting ground for other high growth businesses, such as online retailers.
Anything to do with technology and digital, and manufacturers of household goods”, he added.
In an exclusive interview with the BBC, another similar stature has been noticed. A recruitment agency states they are dealing with an employee-led market.
“Those with the in-demand skills hold the power, and have the freedom and flexibility to accept a job that suits their particular needs and expectations,” says the regional director another recruitment firm in the UK.
These recruitment agencies across the nation have seen a similar pattern.
High-skilled positions are going vacant in order to fill with high-skilled positions.