How the pandemic changed the jobs market - Part 2

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How the pandemic changed the jobs market - Part 2

Following on from our exploration of the sectors last week, we predict some trends emerging in other sectors.

Published: 01/09/2020

How the Global Pandemic changed the jobs market – Part 2

As part of our jobs market review, we listed on the Future Personnel blog in Part 1 our predictions in regard to where job opportunities will rise in a post Covid world. Early indicators for July 2020 suggest that the number of employees in the UK on payrolls is down around 730,000 compared with March 2020.

Maintaining a positive mindset may seem impossible after such a devastating blow to the workforce, however there are some sectors that are either unaffected or the pandemic has forced them to grow.

IT and Software Developers

Without technology, organisations and individuals would have struggled to survive the social separation that COVID-19 forced upon the workforce. In the future the collaboration tools, communication, entertainment, information, data, and the multitude of other services provided by technology are going to become even more important to the way society and the economy develops. Already having seen a demand since May, careers in technology will likely boom as a response.

Not only will existing internal IT teams become vital for in house, but as businesses become more digital, developers, software engineers and more advanced tech support for apps, websites, CRM systems and integrated sales tracking software will also become additional valued members of IT teams.

Supply Chain

During lockdown, we came to realise just how critical the speedy, effective, supply of goods and materials is. From supermarkets to amazon, businesses saw a boom but with that came pressure to deliver quickly. Supply chains are often long and complex, made even more difficult by cross border regulatory red tape and restrictions, so we need some bright minds to simplify and better organise the process. For businesses that have only just started or were reduced to a skeleton team, there is now a backlog to contend with. Plus, with Brexit looming, the clock is ticking for many organisations to catch up or get ahead. 

Financial Services

Economists will be in great demand to provide direction to government, to banks, to research institutes and to businesses, as the nation seeks to resurrect its economy. With the sharpest ever downturn in the second quarter of the year and the biggest hit to profits since the financial crisis, companies will be analysing the data more closely especially as we enter the recession.

Andrew Kail­, Head of financial services at PwC said “Business volumes have inevitably fallen as customer demand has waned”. It is crucial companies asses the new market and the quick constant changes in order to find and follow the customer demand. [1]

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Automation

Automation had been on the cards for a while with many sectors slowly transitioning. The recent pandemic has bought many businesses plans to incorporate this forward. Demand for jobs in wholesale and retail trade, construction, and transportation have all been hit hard during lockdown. These sectors are also at high risk of automation (for example PwC research shows that the wholesale and retail trade has a 34% estimated automobility) [2] In fact, a survey by EY found that 41% of respondents “said they were investing in accelerating automation as businesses prepared for a post-crisis world.” [3]

With a demand for personnel in these sectors, the team at Future Personnel have been surprisingly busy. With a recession comes a lot of uncertainty but one thing will remain the same, the search for talented individuals remain. The pandemic made many appreciate the human touches that make businesses thrive, personable and brands come alive. Without great employees many of the brands we are familiar with today wouldn’t exist. 

If you are looking for a job and see yourself as working in one of the sectors featured in this article, get in touch with our recruitment team today.

 

References

[1] https://www.telegraph.co.uk/business/2020/07/07/financial-services-suffer-record-slump/

[2] https://www.pwc.co.uk/premium/covid-19/uk-economic-update-covid-19.pdf

[3] https://www.theguardian.com/world/2020/mar/30/bosses-speed-up-automation-as-virus-keeps-workers-home

 

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