The City rebuffs Brexit recruitment worries with the number of jobs up by nearly a third in August

Rebecca Smith
Firms are showing a
Firms are showing a "robust attitude" towards recruitment (Source: Getty)

Confidence in the City remains resilient with the number of jobs up by nearly a third in August, compared to the same time last year.

According to the latest Robert Walters City Jobs Index, professional job volumes rose by 31 per cent last month compared to the same period in 2016, and up three per cent on July.

Read more: Brexit battle heats up: London is outpacing EU rivals despite job moves

The ongoing recruitment confidence has meant that, so far, concerns over a slowdown in hiring activity due to Brexit jitters have not materialised.

Positions for accountants in financial services posted some of the strongest growth, with vacancies for permanent roles up 34 per cent, and the number of temporary roles increased by 22 per cent.

Chris Hickey, Robert Walters' chief executive for the UK, Middle East and Africa, said firms were continuing to show "a robust attitude towards recruitment".

He did though, note that companies are changing their approach to hiring:

Since the result of the referendum became known last year, rather than a decline in hiring we have seen a shift in recruitment strategies.

In certain roles City employers are favouring contract professionals, ensuring that they have an agile workforce which can adapt to changing circumstances as Britain’s negotiations with Europe develop.

Despite the buoyant outlook for the number of jobs available, employers are still facing headaches from skills shortages, according to the index. Currently, the number of available roles outnumbers the volume of jobseekers by 1.9 to one, so firms are having to battle to win over talent.

Hickey added: "A clear and concise hiring process is essential to ensure that recruitment decisions can be made quickly and efficiently. With many candidates receiving multiple offers at once, hesitation by employers can allow highly desirable candidates to be lost.

"Employers may also need to be prepared to take a flexible approach in terms of the candidate profile they are looking for. By taking on professionals with transferable skills, employers can secure highly talented staff and create a secure talent pipeline."

Read more: City jobs rose in July as firms took a "robust" attitude to hiring

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