January 24 2022
Technology workers are in high demand across the region; time to fill for IT roles has jumped 44% and pay rates over 12%
LONDON--(BUSINESS WIRE)-Magnit (formerly PRO Unlimited), the Integrated Workforce Management (IWM) platform provider, today released the results of its January 2022 Europe Labor Market Report. The analysis, which is based on billions of data points related to professional and technology roles, reveals that employers in the UK and Europe are facing a severe crunch for skilled talent amidst a strengthening labor market. Firms are actively increasing pay rates and benefits offerings to attract workers.
“Our analysis shows that job vacancies across the UK and Europe are outpacing available workers. This is creating a fierce battle for talent,” said Dustin Burgess, SVP of NorthStar HCM at Magnit (formerly PRO Unlimited). “Employers looking to stay competitive are best served with a data-based talent acquisition strategy. Deep visibility into talent availability, competitive pay rates, worker preferences and more will help firms fill positions faster with the right talent and stay agile.”
Magnit’s analysis explored a variety of year-over-year employment metrics across the United Kingdom, Netherlands, Belgium, Ireland and Germany. Key findings include:
In addition, the report found that Ireland’s pharmaceutical sector is driving a big need for manufacturing workers with skills in validation, engineering and quality assurance. In Belgium, hours worked by temporary staff increased 9.3% in October 2021 compared to the prior year. Job vacancies hit 1M in the UK for the first time ever in August 2021, likely due in part to the fact Brexit has stemmed the flow of talented candidates from countries in the EU.
Magnit’s report leverages actionable intelligence and insights culled from its aggregation, cleansing and anonymization of data across a variety of internal and external data sources. This includes hundreds of client programs globally. Magnit (formerly PRO Unlimited) manages data on hundreds of thousands of workers annually across 51,000-plus unique roles globally, providing insights on rates, skills premiums, efficiencies, candidate supply and demand, hiring competition, and more.
Download the full report to learn more about the state of Europe’s labor market.
About Magnit (formerly PRO Unlimited)
Serving hundreds of the world’s most recognizable brands, Magnit (formerly PRO Unlimited) offers modern workforce management and a partner ecosystem supported by data, software, intelligence and services to meet your flexible workforce needs. Magnit’s Integrated Workforce Management platform can adapt quickly to regional or industry economic shifts, and provides the speed, scale, flexibility, transparency and expertise to serve as the holistic platform for the modern workforce. Headquartered in Burlingame, California, Magnit has helped global brands and organizations achieve operational and financial success for more than 30 years. http://www.magnitglobal.com
Contact
Christian Barbato, Vice President of Corporate Marketing
215.527.6616
cbarbato@magnitglobal.com