First the good news; business confidence in the marketing industry is remaining so strong that salaries are increasing by over ten times the national average, but the slip side is that this appears to be in response to a lack of suitable candidates, with the right skills to take up roles in the sector.
That is according to the latest data from independent job site CV-Library, which shows marketing salaries have risen 4.8% compared to just 0.4% in other sectors, while applications are down by 2.9% compared to 2015.
CV-Library founder and managing director Lee Biggins is in no doubt that skill shortages are pushing up salaries across the marketing industry.
But, while many marketing agencies are working hard to maintain the resilient job market that has withstood uncertainty in recent times, the fact that application figures are down across the sector suggests that candidate appetite is taking a major dip.
Biggins added: “Investments in wages are a good way to attract workers into a company, but clearly should not be the only means used to recruit the very best talent.”
That said, Biggins believes it is positive to note that job vacancies in the marketing industry were up during this period: rising by 12.8%. This suggests that organisations across the sector are remaining confident and are continuing to invest in their workforce, despite job hunter appetite taking a hit.
Biggins concluded: “It’s positive to see that the marketing sector witnessed strong job growth last month, outperforming the national average. Business confidence is at a tricky time right now: we’re nearing the end of a turbulent year, and there is still a great amount of ambiguity around the status of the labour market.
“But, with the Chancellor’s first Autumn Statement to be made in a few weeks’ time, it is hoped that this will be a chance to boost business, and consumer confidence, as we continue to navigate through EU negotiations.”
