The best time to look for a new role isn't always about how you feel in your current position. Sometimes, it's about what's happening in the wider economy.
Just as house prices change with the market, recruitment follows patterns too. There are periods when employers are hiring confidently, vacancies are plentiful and candidates have more choice. At other times, businesses become more cautious and competition for roles increases.
Understanding these trends can help you make your next move at the right time.
Businesses are growing and investing
One of the strongest signs of a healthy jobs market is business confidence.
When companies are investing, launching new products, expanding into new markets or opening new offices, they often need more people. That means new positions are created across HR, finance, administration, customer service, marketing, legal support, operations and many other office-based functions.
Positive business news often leads to increased recruitment activity, creating more opportunities for candidates.
Vacancy numbers are increasing
You don't need to be an economist to spot a busy jobs market.
If you're seeing plenty of vacancies advertised across recruitment websites, LinkedIn and agency listings, it's usually a sign that employers are actively recruiting. When multiple organisations are hiring for similar roles, you generally have more options and greater flexibility.
A larger number of vacancies can also mean employers are competing for talented candidates, which may result in quicker recruitment processes and more attractive packages.
Skills shortages
Many sectors experience skills shortages from time to time even if wider recruitment is slow across the rest of the market. This is where keeping in the loop with your particular industry matters as relevant news publications tend to talk about skills shortages in a way mainstream media won’t.
Salaries are moving upwards
Pay is another useful indicator – with a few caveats.
When employers begin increasing salaries to attract and retain staff, it often reflects a competitive recruitment market. Businesses know they need to offer attractive packages if they want to secure experienced professionals.
Economic confidence is improving
The wider economy has a significant impact on recruitment.
When inflation is stabilising, interest rates are becoming more predictable and businesses feel optimistic about future growth, employers are generally more willing to recruit. While no one can predict exactly what the market will do next, positive economic indicators often lead to greater hiring confidence.
Keeping an eye on business news can give you useful clues about where the market is heading.
What does this mean right now?
Right now if you follow the above, you’ll see it’s a tougher time for candidates. However, trying to perfectly time the jobs market isn't always possible. Conditions can change quickly, and great opportunities can appear at any time. And that’s likely true right now in the UK with quite a notable change in political leadership.
The best approach is to stay prepared. Keep your CV up to date, maintain your LinkedIn profile, continue developing your skills and stay in touch with us. That way, when the market is working in your favour, you're ready to act. Plus, there are always opportunities for the best candidates, regardless of the wider market. Submit your CV.