Insight 2

The workforce is still on the move but not necessarily in STEM fields…

According to the official data from ONS, job-to-job change rates across “all occupations” increased in Q4 2022 totaling around 3% of the workforce switching employers or hirers over the quarter.

LinkedIn’s job change data (which includes both company-to-company and internal moves), demonstrates an all-occupation job change run-rate rise to 6.0%.

38% of individuals moved as a result of redundancy while "Other reasons" captures moves due to contract work conclusion which decreased by 20% in Q4 2022 vs Q4 2021. This, combined with the high level of job changes observed throughout 2022, further emphasizes the issue of skills shortages.

Compare the job-to-job change rates

The job-to-job change rate was particularly high among IT and engineering workers, but these rates were lower than the previous quarter.

Source: Gattaca analysis of LinkedIn data

0.8%

Engineering job-change run-rates: 12.8% down from 16.0%

0.2%

IT job-change run-rates: 13.2% down from 15.2%

Hear how Matchtech recruitment consultant Jess Wormley addresses challenges of skills shortage and gaps in the environment sector

As a consequence of the UK’s key skills shortages, reliance upon migratory talent is increasing - notably for workers from outside the EU.

Whilst EU national worker numbers were identical year on year (7% of the UK workforce), the number of non-EU nationals rose by 23% (351k) to 6%.

All in employment (aged 16+), Oct-Dec 2022

0%

UK workers

0%

Non-EU workers

0%

EU 27 workers

Non-EU

0Q4 21

0Q3 22

0Q4 22

EU27

0Q4 21

0Q3 22

0Q4 22

Takeaway

At Matchtech we know there are talent shortages in STEM

…but while most organisations will focus on switching on more channels and buying more media, we often find that by optimising the application and assessment processes, barriers to entry are lowered.

Our recommendation

Most barriers aren't intentional - like an interview or a several stage assessment process - but poor candidate journeys are just as likely to dissuade a highly skilled jobseeker as a less experienced candidate.

By focusing on creating a "frictionless" processes, employers can speed up their time to hire, improve candidate experience, and improve pipeline diversity and quality - all long term positive benefits that will help them reduce unnecessary media spend.

LinkedIn’s job change data (which includes both company-to-company and internal moves), demonstrates an all-occupation job change run-rate rise to 6.0%.

38% of individuals moved as a result of redundancy while "Other reasons" captures moves due to contract work conclusion which decreased by 20% in Q4 2022 vs Q4 2021. This, combined with the high level of job changes observed throughout 2022, further emphasizes the issue of skills shortages.

Compare the job-to-job change rates