Will furlough ending help the candidate shortage?
Furlough is ending this week and there is a lot of talk about what this will mean for the candidate shortage the recruitment industry has been experiencing.
As you might initially think, many of the 1.6 million who come off furlough will either go back to work or become redundant which will widen the candidates pool right?
According to the Financial Times, it won’t. Tony Wilson, director of the Institute for Employment Studies, said the scheme’s closure “won’t make a big difference to the path of unemployment or to the level of vacancies.
So what will this mean for recruiters?
Furlough has supported people up and down the country since April 2020 and across the scheme’s lifetime, it has covered the wages of 11.6m people and paid for 2.3bn working days.
Although there has been a national candidate shortage and furlough should bring more candidates onto the market, Many people may have to change careers to take full advantage of the furlough ending situation in the best possible way, according to the REC
Almost one in four fear losing their jobs when the scheme ends this week and may people who lose their jobs may have to look for a new career in order to stay in a role. This all however comes as uncertainty oh what the end of furlough will bring and within time the candidate shortage problem will level out with who is unfortunate to lose their job as furlough ends.
How can you keep up with the changing industry?
With all this going on, the recruitment industry needs to essentially adapt to new technologies in order to keep up with the changing landscape.
We can help by offering:
- e-Registration that saves time and fills more vacancies
- Track your candidates time with easy clock in / out online timesheets
- Recruit on the move with a mobile app
- And much more!
Discover more and get a free demo of our streamlined new Temp Hero system below