Member Article

NHS spends money to save money as public sector jobs increase

The ongoing improvements in the UK economy have been reflected in a year-on-year increase in job vacancies, according to Venn Group. The contract recruitment specialist’s latest employment trends index found that job opportunities rose by 3% year-on-year. This mirrors findings from the Treasury’s most recent UK GDP forecast figures which averaged 3% in September. The optimism is further enhanced by reports from the NIESR (National Institute of Economic and Social Research) which found that the British economy grew by 0.7% in the third quarter and is 3.1% larger than at this point last year.

NHS drives public sector hiring

Venn Group’s data found that public sector recruitment led the way, showing a 4% increase in hiring year-on-year. Much of this activity has been driven by a pressurised NHS which made up a large proportion of public sector recruitment. Reports suggest there is a £500m ‘black hole’ in health service finances and this has raised demand for professionals with financial analysis and procurement experience in order to drive efficiency.

Jodie Finn, associate director at Venn Group, commented on the findings. “These non-clinical specialists have been hired to provide short-term private sector expertise in order to turn around the flailing NHS and ensure that money doesn’t continue to be lost at the same rate. While budgets have been cut for clinical talent, non-clinical hiring is expected to intensify as the heads of all three major political parties have insisted they will drive efficiency in the service after the general election next year. Consequently, professionals in analysis and reporting roles will continue to be highly sought after.”

Hiring bucks the seasonal blip

In terms of private sector hiring, there was a frenzy of recruitment activity as vacancies increased by 17% quarter-on-quarter. The first quarter of 2014 was remarkably active which boosted vacancies to an exceptionally high level causing figures to drop off during quarter two. Year-on-year, vacancies grew by 1.3%, indicating steady improvements in the hiring market.

Historically, recruitment activity has calmed during quarter two however results from this year’s Index highlight a bucking of the seasonal blip. This is indicative of the need for specialist, niche contractors who can aid organisations’ growth and can later pave the way for increased M&A based expansions. There have been pockets of impressive hiring rates throughout the country with the upturn in the housing market combined with increased use of technology driving much of this activity.

Ends –

Venn Group – The UK’s only company dedicated to the provision of professional contract staff to organisations in both the public and private sectors – compared hiring levels between quarter two 2014 and quarter three 2014 across all of its core regions:

London The North West The North East The South West Thames Valley The Midlands Central & East

This was posted in Bdaily's Members' News section by Venn Group .