Hiring Confidence in UK Hits Two-year High as Use of AI Streamlines Recruitment

Hiring Confidence in UK Hits Two-year High as Use of AI Streamlines Recruitment

1 min read

Key Takeaways:

  • UK hiring confidence reaches a two-year high, with 57% of businesses optimistic about recruitment in the upcoming quarter.
  • The time to hire drops to an average of 5.8 weeks in Q2 2023, down from 6.4 weeks in Q1 2023.
  • Over one in ten businesses are using AI to streamline and speed up the recruitment process.
  • 33% of businesses plan to create and fill roles heavily reliant on AI within the next three months.

Hiring Confidence Peaks as AI Streamlines Recruitment

The latest Totaljobs Hiring Trends Index indicates that hiring confidence amongst UK employers has reached a two-year peak, with new research showing that job applications have surged and the time to hire has dropped in the last quarter.

The Index, which surveyed 1,005 HR Decision Makers in the UK, reveals an 8% increase in hiring confidence looking into Q3. This brings the hiring confidence to 57%, the highest level since 2021. Industries with the greatest confidence in recruiting the right people in Q3 2023 are IT and telecoms (74%), media/marketing/advertising/PR and sales (74%), construction (72%), and finance and accounting (69%).

The research also shows a decrease in the average time to hire for Q2 2023, down to an average of 5.8 weeks from 6.4 weeks in Q1 2023. Furthermore, 81% of businesses successfully recruited in Q2 2023, up from 78% in Q1. Over a third (34%) of these organisations increased their recruitment efforts during this period.

See also  Battles of the Titans: A Deep Dive into the New Strategies of Netflix and Tesla

Impact of Inflation on Candidate Movement

Several factors have influenced the rise in candidate activity and confidence amongst employers. Research from Totaljobs earlier this year showed that over a third (37%) of UK workers were considering changing jobs due to the rising cost of living.

Increasing Use of AI in Recruitment Processes

The Hiring Trends Index also reveals a significant shift towards the integration of AI in recruitment processes. Two in five businesses (40%) are currently using AI to streamline and speed up their operations. AI is being used to fine-tune job descriptions, remove biased language, efficiently screen CVs, and job applications.

20% of businesses plan to educate and train their staff on AI usage to improve productivity. Moreover, 33% of businesses plan to create and hire roles that heavily rely on AI in the next three months.

Julius Probst, European labour market Economist at Totaljobs, underlined the role of AI in recruitment: “As the job market evolves, it is imperative for businesses to embrace innovative solutions like AI to stay ahead, streamline processes, and secure the talent they need. By combining strategic talent management approaches with the integration of AI, organisations will be better placed to achieve their recruitment objectives in the current climate.”

Sign up to our newsletter & get the most important monthly insights from around the world.

See also  Seriös Group Empowers Employees with 17.5% Stake via New Shares Scheme

Ready to Amplify Your Brand with Business Today?

Discover the power of sponsored articles and partnerships to reach decision-makers, professionals, and a dynamic audience. Learn more about our advertising opportunities and connect with us today!

Click here to explore our Promotion & Sponsored Articles page.

Are you looking to make an impact? Contact us at [email protected] to get started!

See also  Seriös Group Empowers Employees with 17.5% Stake via New Shares Scheme

Business Today News

BusinessToday.news is an online publication committed to delivering comprehensive and insightful coverage of the latest business news, trends, and practices. With a focus on finance, technology, entrepreneurship, and other critical areas, it serves as a valuable resource for professionals seeking to stay abreast of the rapidly evolving business landscape.

Leave a Reply

Your email address will not be published.

Latest from Blog


BusinessToday.news is a premier online platform dedicated to providing the latest news and insights on a wide range of topics related to the business world, including technology, finance, real estate, healthcare, and more.


Copyright Unstructured.Media. All rights reserved. Explore our sitemap