The news this morning is dominated by variations on the “latest” CIPD study.
It claims that “the UK labour market faces a “slow, painful contraction” with firms delaying recruitment of more staff”. Furthermore, the Chartered Institute of Personnel and Development (CIPD) predicted the jobs market would worsen in the medium term amid global economic “turmoil”, and that employers were adopting a “wait and see” policy towards the economy, which involved reduced recruitment as well as fewer redundancies.
The problem with any report such as this is the length of time it takes to compile. Let’s be fair, the CIPD apparently contacted 1,000 employers, but the chances are it took a month to target the clients, a month to get the results back and a month to put the report together. So the chances are, the views reported are probably three months old and not representative of what is actually happening.
Our take on the market is that clients have decided that they need to take control of their own destiny, and are recruiting now to prepare themselves for the challenges that lie ahead. The CIPD report is a snapshot of the mood some months ago, not now.
We should be encouraging entrepreneurship, carpe diem, whatever you want to call it, not spreading doom and gloom. My advice – don’t believe everything you hear on the news!