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Author - Sarah Stewart
The Job Market in 2023 - An Overview
The job market in Great Britain (GB) and Northern Ireland (NI) was decidedly lacklustre in 2023. With the relentless updates of inflation climbing, businesses and workers tightened their belts. This cautious spending, unsurprisingly, slowed down recruitment across the board.
Economic Impact on Recruitment
Rising interest rates put the brakes on mergers and acquisitions, which led to more conservative investment strategies. The cautious approach meant less movement at the top and less opportunities coming to market below. Meanwhile, the rising cost of living had many professionals dusting off their CVs, eager to optimise their earning potential.
Digital Talent Shortages Persisted
Despite the economic rollercoaster, the tech world didn’t stop spinning. The rapid pace of technological advancement continued to leave businesses scrambling to fill digital roles.
Why? Well, a few reasons:
Regional talent availability has been radically reshaped by post-pandemic work preferences (hybrid and WFH are here to stay).
The gig economy kept growing, with many professionals embracing freelance life.
An ageing population made the talent pool shallower.
Barriers to upskilling made it harder for some to catch up.
And of course Brexit, which diminished the options of EU Talent.
The Importance of Soft Skills and Change Intelligence (CQ)
Big corporates and talent consultancies further defined their requirement for CQ. CQ is a relatively recently popularised concept referring to the skills required to adapt to change well, an indication of the impact of AI and global affairs will continue to have on business.
Communication, empathy, collaboration, adaptability, and critical thinking were the most sought after soft skills being tested for, alongside tenure and practical experience.
Recruitment Trends in 2023
Demand for Salary Transparency: Job seekers want salary details upfront
Flexible Working: The demand for flexibility isn’t going anywhere
Meaningful Job Adverts: Candidates appreciate job ads with context and clarity.
Respect for Candidates: Companies learned the hard way that candidates don’t appreciate their time being wasted. Some even faced social media backlash for using candidates’ work without so much as a thank you note.
Mental Health and Well-being: A knock on from the shared trauma of covid, natural developments, the increasing demands of digital “conveniences” and associated personal brand and performance expectations.
Diversity and Inclusion: Age inclusivity in particular became more prevalent with the antiquated idea that the 30’s somethings were the best demographic to power businesses continuing to be challenged.
Environmental Sustainability: Companies that walk the talk on sustainability and social responsibility are earning serious brownie points. Marketers frequently voice their desire to work for businesses respecting the environment and the future.
Marketing Employment Trends
In the marketing world, junior to mid-level pros have frequently voiced frustrations that they’re expected to deliver strategic insights while handling all the nitty-gritty tasks - think updating literature, prepping events, and tweaking websites. Not surprisingly, this leaves little room for the big-picture stuff.
Businesses are seeing marketing as more than just a support role, however estimating time requirements for tasks to fairly create job responsibilities still has a way to go. Companies are becoming less skittish about investing in marketing, which is a win for everyone.
The Candidate Experience
While the pace of hiring for marketing roles has picked up slightly, some candidates still find themselves stuck in a waiting game—sometimes for up to two months between the first and second interviews. Companies that keep their recruitment processes efficient and transparent are seeing the payoff with engaged and motivated new starts who have enjoyed the recruitment experience.
The Growing Marketing Community in GB & NI
Marketing events were popping up all over, and are really well attended. Communities and collectives are growing, and marketing podcasts are climbing the charts faster than popular culture titles. Despite the economic ups and downs, the marketing scene in GB and NI still held plenty of opportunity.
Looking Ahead: A Promising Year for Marketing Professionals
With the steady influx of global talent, advancements in technology, and a focus on enriching work-life balance, 2024 is set to be a great year for marketing professionals with ample opportunity for growth and innovation.
Stay Connected
Don’t miss out—keep an eye on our Instagram page for the latest events. If you’re thinking about a career move or need a marketer for your team, drop us a line at sarah@mrktsearch.com.