Our latest salary and recruitment report shows that there has been a noticeable trend in the number of Norfolk organisations which are increasing their investment in employee development. This has been highlighted by the number of businesses in the county which have looked to appoint learning and development or training specialists in the last year.
We believe this is due to Norfolk employers looking to introduce more innovative and attractive job packages as competition for employees begins to increase. We’ve seen a steady growth in the Norfolk recruitment market over the last year, despite the downturn in the oil and gas sector. In particular food production companies, manufacturing organisations, professional service businesses, and the public sector, have all helped to make the job market in the county become more buoyant.
When the job market improves, candidates become more willing to switch companies and this means organisations have to work harder to attract and retain high calibre employees. Being able to demonstrate an investment in employee development is just one of the ways in which organisations can compete and encourage new employees to join them, or engage existing employees to stay and progress their career.
While our report shows that Norfolk salaries in general have remained fairly consistent, there is a potential that they will start to rise, if the competition for talented staff continues to increase. However, it is important to note that the result of the European referendum could have a significant impact on the trends we have seen over the last year. Recruitment is recognised as one of the first industries to react to economic changes and the decision to exit the EU could affect the confidence.
When the Brexit referendum was first announced, there was a noticeable slowdown in the number of new jobs and a significant amount of recruitment put on hold. Conversely, in the two months leading up to this historic vote, we were surprised by the high level of recruitment activity, so perhaps this indicates a greater economic resilience in this region. We will continue to monitor trends in our region and keep local employers and candidates informed.
In the meantime, we are encouraging local employers to use our latest report to see how their current salary offering compares against other organisations in the county. Candidates can also use the report to benchmark their pay against others working in like-for-like roles across Norfolk.