Direct Line in 2023 leads the way
Direct Line is a company we are recommending keeping an eye on in 2024, after they recorded a 71% increase in vacancies from 2023 compared to 2022. Indeed, at a time when the Financial Services industry has been in decline, their performance is noteworthy. Other organisations worth highlighting include:
Howden Group Holdings, also in General Insurance, witnessed a positive growth of 32.19%, with vacancies increasing from 320 to 423. Similarly, Gallagher, operating in both the UK and the USA, saw a modest increase of 5.78% in job vacancies, reflecting steady growth in the global insurance market.
In the Commercial Banking sector, NatWest Group experienced a moderate increase of 13.12%, while Lloyds Banking Group faced a 3.16% decline in vacancies. Meanwhile, Barclays and Santander, major players in the UK and Spain, respectively, saw significant reductions of 42.45% and 76.60% in job vacancies. Otherwise, HSBC, a global banking giant, faced a 14.97% decline in vacancies, reflecting the challenges the sector is facing in light of quantitative tightening.
Similarly, we have seen several of the leading American institutions, including Bank of America, Citi, and Wells Fargo, experience significant reductions in job vacancies.
Looking ahead, the big question is how will 2024 shape up? Well with interest rates set to fall, the financial services instutions are well placed to benefit. The UK is on track to not only avoid recession, but to start to beat this cost of living crisis as wages outpace inflation. Whether the Tories see the benefit of that is another question.
If you found this table interesting, we can work with you to pinpoint the activity of your key clients, in relation to the roles you work on, to give you a better insight into which businesses outperformed the rest last year, and which shrunk the most. Using data in this way, can mean that your team are primed for success by targeting the businesses they should be focusing on.
We can create filtered reports by named company, professional category, even by role and seniority, along with location and size of organization, so to give you insight on every market you are interested in. If you would like to profile your top 20 clients in this way, to see what their 2023 activity was like compared to 2022, why not request a demo?
Vacancysoft was first formed in 2006 and we have nearly 18 years of experience now in generating and using market data to create insight. Along the way we have been featured in leading journals such as FT, Bloomberg, Reuters, BBC and others. We work with over 40 of the largest 50 global recruiters and have a track record of delivering value. Come find out why we are the leading market solution for the industry.
The data referenced above has been sourced from Vacancy Analytics, a cutting-edge Business Intelligence tool that tracks recruitment industry trends and identifies emerging hotspots. With 17 years of experience, we have a deep understanding of market activities in the UK and globally.
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