Business

Vacancies are there as nine in 10 want to change jobs

Some 87 per cent of people interviewed for the latest NIJobs.com jobs report say they intend changing roles this year
Some 87 per cent of people interviewed for the latest NIJobs.com jobs report say they intend changing roles this year Some 87 per cent of people interviewed for the latest NIJobs.com jobs report say they intend changing roles this year

NINE in 10 workers in Northern Ireland are considering moving to a new job due to the cost of living crisis, a survey has revealed.

And for those who go on to seek pastures new and potentially higher salaries, the opportunities are endless, with unfilled vacancies running at near record levels.

Figures in the latest quarterly barometer from hiring platform NIJobs.com in association with Ulster Bank also show that widespread skills shortages are shifting the balance of power towards employees rather than employers.

“It's undoubtedly an employee’s market right now, with opportunities at every level,” according to Sam McIlveen, general manager at NIJobs.com.

“While the recruitment surge has eased back slightly, the number of job openings remains consistently high in many employment categories, led by IT, hospitality, accountancy & finance, and sales.”

But the sentiment survey reveals that concerns over the cost of living are prompting many workers to consider a job move in the coming months.

Mr McIlveen added: “With such a large number of roles on offer, it's no surprise that increases in inflation and the cost of living means many people are evaluating the steps they can take to ease financial pressures.

“Some 87 per cent of those interviewed for this latest jobs report said that the cost of living is making them consider a move, with three quarters planning to do so within the next six months.

“At the moment, we are experiencing vigorous job seeker activity, with job applications above where they were this time last year.

“The number of job openings won’t slow anytime soon, but employers must give careful consideration to the current climate when competing for talent.”

The report said rising costs for employers mean that above-inflation pay rises are not always an option, and instead, businesses are perhaps looking to subsidise travel costs or are offering financial planning support or enhanced contributions to pensions and life/health insurance.

Ulster Bank’s chief economist Richard Ramsey said 18 out of 31 of NIJobs.com employment categories saw more positions advertised in the second quarter versus the previous three months. The sectors that reported the largest numerical gains in job openings in quarter two were nursing, healthcare & medical; social, charity & not for profit; and secretarial & administration.

He said: “The current labour market is red-hot, as good as it gets, but there are problem employers are facing, such as skills shortages and wage pressures. A fresh wave of Covid infections has added to these ongoing staffing pressures, alongside the threat of industrial action.

“The war on talent means many firms are engaged in an arms race of pay increases and benefits improvements to attract and retain staff. Flexible working continues to be one incentive within the wider arsenal offered by leading employers.

“Despite talk of a looming recession and a cost-of-living crisis, as far as job openings are concerned employees have never had it so good.”