Due to a plethora of external influences, 2019 was a testing year for recruitment in many industries. Regardless, Morgan McKinley’s HR team delivered a consistently high standard of service to candidates and clients.
2019 was a turbulent year for businesses in general, with hiring across many industries suffering at the hands of Brexit. Despite the troublesome landscape, by analysing and comparing HR recruitment across London in 2019 to 2018, we can see how the Morgan McKinley HR team maintained success.
Let's start by taking a look at Morgan McKinley's main area of business, Financial Services, and what was published by the ONS.
This data shows that Financial Services vacancies decreased year-on-year by -15.4%; dropping from 39,000 vacancies in 2018 to 33,000 in 2019.
Morgan McKinley's HR vacancies have mirrored the trend very closely from what we can see from the Official Government Data. As HR is not a fee earning business, it’s not hugely surprising that it has taken a slightly larger hit in the past 12 months than some other areas.
The chart above, displaying vacancies available through Morgan McKinley’s London HR team shows a reduction of 20.1% in jobs when comparing 2019 to 2018. Whilst this appears negative, it’s not bad news if you are a client or a candidate working with us. Read on to find out why...
There was a proportional change in the type of roles coming to the market in 2019 compared to 2018 - 12% down in the temporary market, up 29% in FTC and up 12.5% in permanent. We have seen the market in HR move from being interim focused towards more FTC and permanent. This mirrors how clients are looking at the cost implications of interim recruitment and the potential new changes in IR35 legislation likely to be implemented in April 2020.
If you are an interim worker and this worries you and you would like to have a discussion about what your options to continue contracting are or how you can look to get into a permanent or FTC vacancy, get in touch with the HR team and we will happily offer you the best career advice for your situation.
The fill rate of vacancies improved from 16.2% in 2018 to 28% in 2019. Even though jobs available were down 20.1% year-on-year, we have driven a huge increase in our fill rate. We have moved from filling 1/6 jobs to filling 1/3.5 jobs - an enormous 81% improvement.
Overall, this led to more roles being filled than in 2018, up by 39%. With less roles available we have in fact successfully placed more, improving the quality of service across the board.
If you are looking for a new role or looking to bring fresh talent into your team, we will offer no qualms advice on what we can offer you and how you can make your career or team prospects look a little less daunting in 2020.
Considering jobs decreased in 2019, Morgan McKinley's HR desk was more productive in improving our client offering by sending more CVs at a higher quality than 2018, driving more interviews and more placements as a team. Overall, this shows how we considerably improved our services to both candidates and clients.
On a job-by-job basis as a direct comparison year-on-year, we can see that our jobs are being worked to a higher standard. The knowledge of our team has vastly improved and the implementation of complex blended search methodologies has meant better results for candidates and clients.
There is no shying away from the fact that 2019 was a tough year in recruitment. Roles were harder to come by and competition was fierce for roles. In the face of this, Morgan McKinley HR London strove to deliver a better quality of service, putting the right roles in front of the right candidates, better pairing the needs of each candidate and client to ultimately place more people in more jobs.
We are dedicated to the best possible service in 2020 and we hope to see things improve again. If you would like to discuss any of the points above, please contact me today.