One in two (49 per cent) financial services organisations plan to recruit for growth in Q3 this year, the highest proportion in two years, and a figure up 13 percentage points on the previous quarter. A further 43 per cent of financial services companies will recruit to maintain staff levels. Overall 92 per cent plan recruitment in Q3.
Overall, UK recruitment for growth has accelerated to its highest level in two years, while downsizing is at its lowest, according to quarterly research published by recruitment company Reed.
Nearly 1,500 organisations across the UK are surveyed each quarter for the Reed Recruitment Index. The study shows recruitment demand overall has risen 10 percentage points compared to the last quarter, with 88 percent of organisations planning to recruit in the third quarter of 2004.
Two out of five organisations now plan to recruit for growth over the next quarter, an eight percentage-point increase on Quarter Three. This is the largest quarterly increase in this figure, which is now at its highest level over the two years since the Reed Recruitment Index began. In addition a further 48 per cent are recruiting to keep staffing levels stable by replacing leavers.
Redundancies are at a two-year low. Only six percent of organizations plan to downsize their staff levels over the next quarter, a decrease of one percentage point on the last quarter.
Recruitment demand has surged in the IT sector. It is up 47 percentage points on the previous quarter, with 68 per cent of IT firms looking to recruit for growth – their highest level following their downturn over the last two years.