In our latest job market report, 24 Seven asked hiring managers working in the Marketing, Creative, Tech, Beauty, Fashion & Retail sectors how the pandemic affected their hiring plans and what the future holds.. While many companies were cautious and some had to make tough decisions in the early days of Covid-19, the future is looking bright with many organisations looking to hire talent and move their business forward in the new normal.
COVID-19 RESPONSE: REDUCE AND HOLD
The vast number of companies (85%) decided to freeze their hiring plans at the start of the pandemic. Seven in ten employers had to make the tough decision in reducing their workforce (losing 20% of their team or less). Fifty-five percent (55%) of employers took advantage of the furlough scheme especially in sectors that were hit the hardest such as retail. As we start to see the light, a fourth of employers have reinstated all or some of the furloughed and 80% of employers have no immediate plans to reduce their teams further.
COMPANIES FUTURE HIRING PLANS
The bulk of hiring managers said their companies are actively hiring again. One third of organisations stated that they are only looking to hire business critical roles, with another 12% they are looking to fill all positions. One in ten businesses did not put their hiring on hold and have continued their hiring plans as usual. .A third of are looking for freelance talent while over half are looking to fill full time roles.
Hiring managers taking part in the survey said the following disciplines were the most in demand: Marketing & Digital Marketing, Creative, E-commerce, Sales, and Advertising.
REMOTE WORK IS STILL HIGH ON THE AGENDA AND SOFT SKILLS IN DEMAND
Half of businesses surveyed are working fully remotely with no plans to return to office spaces soon. just over a third have been working remotely but since restrictions have been relaxed are now returning to offices or offering flexible working. A small percentage of respondents (6%) said they have no plans to return to the office at all. Hiring managers said that went interviewing candidates they are looking specifically for soft skills enabling them to work well in a remote workforce environment. These include communication, self-starting, collaboration, self-discipline, and professionalism. Time management, problem-solving, flexibility, detail orientation, and positivity round out the top ten desired soft skills.
COMPENSATION still struggling
One-fourth of companies had to make the tough decision to reduce salaries and are yet to restore them to pre-pandemic levels. 12% reduced salaries but have now returned remuneration to pre-pandemic levels. “Decreasing salaries was a way for us to keep our team intact,” explained one hiring manager, “Fortunately, we have restored compensation, and our team remains whole.” Raises will be a COVID-casualty at most companies; however, as 65% do not plan to issue increases at this time. Bonuses will go undistributed as well at 4 out of 10 companies.
If you would like any more information on what is happening in your sector and how we can help you find talent in the new normal, please reach out to one of our specialist full time or freelance recruitment consultants.