City hiring spree: Financial services sector’s recruitment plans to break records this autumn
Employers in London have ambitious plans to increase their headcount as they enter the fourth quarter, according to new research shared with City PM this morning.
Even though London’ outlook was the lowest of all regions in the fourth quarter of last year, at minus 13 per cent, businesses in the capital now have one of the highest recruitment looks in the country, at more than 40 per cent. a 53 percentage-point increase year-on-year.
London’s outlook correlates with the finance and business services sector as the industry’s intention to hire is also breaking records, with an outlook of +46 per cent, according to recruitment giant Manpower.
In fact, as the UK adapts to life post-lockdown, employers in all 12 regions of the UK expect to add to payrolls during the next three months.
“Strong hiring intentions in the capital bodes well for the economy as a whole, so it’s great to see such strong numbers in London,” commented Jason Greaves, Director of Manpower.
He told City PM today that “employers across the capital are anticipating a shift which will see many more people return to the office, with coffee shops, restaurants and retailers all expecting a surge in footfall which goes hand in hand with increased demand for staff.”
As London powers ahead of other regions, the national outlook is at an all-time high of +32 per cent, a 39-point increase compared to the fourth quarter of last year as the UK adapts to life post-lockdown.
This coming quarter, a record half of all employers (50 per cent) in the UK intend to increase headcounts.
Manpower’s survey is based on responses from 2,033 UK employers. The research asks employers in the UK if they intend to hire additional workers, maintain current headcount or reduce the size of their workforce in the coming quarter, October to December.