º£½ÇÊÓƵ

It’s no secret that the North’s job market has been characterised by caution in recent times. The KPMG and REC º£½ÇÊÓƵ Report on Jobs survey has shown businesses pulling back on recruitment activity for the past 21 months, in response to economic uncertainty and increased operating costs. It’s hardly surprising that they are focusing on managing immediate risks on their balance sheets.

However, as one of the º£½ÇÊÓƵ’s economic flagbearers, we need the North West’s specialist industries – including financial services, technology and life sciences – to be operating at full capacity if the private sector is to make the most of government investment and support its much-publicised growth agenda.

So, while the rise in candidate availability makes for an increasingly competitive market, it also represents a rare opportunity for businesses to rethink their hiring strategies and strengthen their workforces with the skills needed to deliver growth in the long term.

Future industries

Indeed, now is the time for businesses to ensure that their talent pipelines are ready to meet the demands of an increasingly digital workplace. From artificial intelligence to automation, technological transformation is redefining what it means to be “job-ready.” As AI is becoming more readily adopted, it’s clear that the technology needs people to harness it effectively and capitalise on the creative opportunities it brings. Recruiting and building the skills in-house will be critical to staying competitive, and there is currently a major pool of talent waiting to support.

At the other end of the scale when it comes to experience, our region’s combined authorities are planning to build an employment and skills pipeline that connects businesses with the talent they need – the Greater Manchester Combined Authority’s integrated approach to STEM industries is a good example of this. But for this vision to succeed, we need businesses to play their part. Employers with deep roots in the region understand the nuances of the local job market and by collaborating with civic leaders and leveraging their shared insight, they can prime our region for further growth.

A diverse regional economy

There’s also a social imperative. For too long, the region’s fastest-growing sectors have recruited from the same pools of talent. The technological changes we are seeing have the potential to remove employment barriers for those in underrepresented communities across the region – particularly with Mayoral Development Zones and innovation clusters like Atom Valley – and the success of our cities spreading out into local boroughs.