2021 has started with a bang with the steady rise in new jobs experienced in Q4 of 2020 continuing in January of the new year.
This is partly due to many EU nationals returning home during the pandemic to face the crisis with their families and employers choosing not to replace them as uncertain economic winds blew in. It is also due to an increase in resignations as employees have seen salary rises stopped and promotions postponed whilst being asked to do more.
By lockdown 2.0 it was clear that sectors outside of travel, high street retail, events, and hospitality were continuing to grow and businesses had learned how to operate effectively.
So it's no surprise that with lockdown 3.0 the improving trend continued and those employers who had not replaced staff found themselves having to recruit as people covering the vacant labour were stressed to breaking point.
So there has been a surge in vacancies just at the time that the market swings in sentiment from employer control to candidate. Once again, candidates have multiple opportunities, so employers have to move fast and decisively if they want to meet their talent targets.
Assuming that economic conditions recover as expected, it anticipates robust ad spend growth of +6.9% and +6.2% in 2021 and 2022 respectively,