Job vacancies up 6% across London

Nick Elvin

Overall job vacancies in London rose by 6% last month, according to Venn Group’s June 2015 London Recruitment Index.

There were 6,522 vacancies in June, compared to the 6,179 recorded in May 2015, and Venn Groups says much of this activity can be attributed to opportunities within the private sector as businesses bring on board senior talent on a project basis to facilitate future growth. There was particular demand for contractors to fill technology and digital roles as businesses invest in ‘future-proof’ systems, and tools to aid efficiency, productivity and stakeholder communications.

This demand is mirrored in the rates that these professionals are currently commanding. For example, developers with experience in PHP programming are earning up to £350 a day, and IT service managers are making in excess of £600 a day.

Jodie Finn, associate director of Venn Group, said: “Activity across commerce and industry remains high post-election, but June saw particular demand for senior IT specialists to implement systems fit to manage future growth.

“There has specifically been demand for IT service managers with solid experience in managing design, implementation and integration, and this is reflected in the rates that these professionals can command.

“There was also an increase in demand for digital designers and online content editors to oversee projects to improve online visibility, user experience and engagement. Professionals with particular experience in working cross-platform are highly sought after to implement a ‘joined-up’ online presence as companies continue to recognise and respond to changing user expectations. Contractors working in this area are currently commanding in excess of £190 per day.”

Demand for contract professionals within the public sector rose by 2% in June as trusts and clinical commissioning groups brought in financial contractors in efforts to meet government efficiency saving targets.

Venn Group says the current focus of discrepancies in the cost of procurement within the health service has created extra demand for finance professionals to work within individual trusts. Finance managers and administrators, accountants, and procurement consultants are being drafted in on a contract basis to analyse current spending patterns and make the necessary efficiencies.

“Recent reports that a box of toilet rolls will cost one hospital in the NHS £66, and a different hospital £30, highlight the fact that there is much room for improvement in terms of efficiency within the NHS,” Finn added.

“Trusts are wisely responding to this situation by bringing on board procurement experts short-term who can quickly review current spending levels, and subsequently slash overheads long-term.”

There was an overall average rate increase for contractors securing new assignments in June 2015 of 4% with professionals now earning an average day rate of £278. This exceeds UK average figures released by the Office of National Statistics, which show that salaries increased by 2.7% in the three months to April.