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Every sector, be it private or government, requires proper management to stand the test of time. Common industries such as IT, oil and gas, finance, insurance, manufacturing, construction, utility and much more are some of the common places where management is of utmost importance.
Management involves a lot of verticals that include proper planning and provision of work. From high-level management positions to lower levels, the vitality of management in any sector at any level is certainly very crucial.
Scope of management sector jobs
As said earlier, management is inevitably a vital part of any business, so are the job positions involved. There is a lot that accumulates in the plate of a person in a managerial position. From planning to organizing, securing to controlling, managing resources to tasks to achieve specific business goals and the list goes on and on.
Wondering which are the common and most demanding management sector job positions?
As already said above, management sector jobs are on fire! Or we could say ‘were’ until the pandemic happened. Yes! Just like any other job sector, COVID-19 had a drastic impact on the management sector jobs. But the good news is that recovery has happened so well. And evidently, the jobs are booming like it was in the pre-COVID times.
In this article, fatraven is going to discuss the impact of COVID-19 on management centric recruitment. We are using our all-in-one Talent Market Analytics to represent these insights. Our tools have helped us put these insights to you clearly and concisely. Stay with us till the end for the complete labour market analysis of management sector recruitment.
On another note, we would like to let you know that we are in the process of conducting a close analysis of the pre and post-pandemic recruitment trends in all of the major industries. So follow this space for a comprehensive overview of the entire job sector. Gaze through our recent study on the impact of COVID-19 on the education sector recruitment here.
The changing phase of business & its impact on the management sector
Pandemic has threatened even the topmost players in the business world. Though the short-term impact was sudden, they were also the most severe. It is not rocket science to understand that when businesses become stalled, so do the job requirements. Millions of people were left devastated. Some lost their jobs while others were struggling to transform themselves into the ‘work from home’ structure.
The management job sector had the equal effect of knocking down jobs of many in managerial job positions. As already said, management jobs are widely spread across various sectors of industries. All those industries that involved a higher level of physical proximity had faced long-term disruption due to the COVID-10 pandemic.
Management jobs in the on-site people interaction arenas such as hotels, restaurants, retail stores, showrooms, and banks etc. faced a setback. All those businesses or industrial sectors that were dented by the pandemic also had a direct disruption to the job involved; including the management sector job positions.
Remote Work, Automation and AI to the rescue
The only way businesses have mitigated the past global crisis was with a strongly built foundation of resilience. All those businesses that had a strong crisis and business continuity management in place have started to flourish.
From investing in moving all their employees to a work from home set up to deploying automation and AI in manufacturing plants, warehouses, retail and grocery stores, call centres etc., businesses have recovered faster than ever.
As mentioned previously, there is a direct impact of whether a business flourishes or fades on the number of managerial job vacancies generated. This quick adoption of the new geography of work has created an upsurge in the management sector job recruitments.
We will now take a detailed look at the labour market overview of the management sector jobs with the help of some stats and numbers.
Statistical analysis of COVID-19’s impact on Management sector jobs
Here are the statistics that show the data of job postings between January 2020 to June 2021. Just after the pandemic hit the country, which was on January 31 2020, a major plunge in the number of job vacancies can be seen. According to ons.gov.uk labour market statistics, “February to April 2020 saw the largest quarterly decrease to the vacancies total since the current time series started in 2001.” Below here, we have conducted a quarter on quarter analysis. Read on to know more.
Labour Market Overview (Management Q2 2020)
Let us start from the beginning of the pandemic era, marked on the graph above as Q2, 2020. It was the period when the crisis had sent the entire nation into despair. Millions of people lost their jobs.
One can clearly see the drastic dip in the number of management sector job vacancies in the second quarter (Q2, 2020), i.e. April to June 2020. After implementing coronavirus social distancing measures, the estimated level of vacancies had decreased by approximately -64.3%. (compared to Q1, 2020).
Market Overview by Agency/Direct
At this point, the market seems to be unpredictable and extremely volatile. With 45K ( 68.4%) direct job postings and 21K (31.6%) agency job postings, the direct companies can be clearly seen towering over the agencies.
Labour Market Overview (Management Q3 2020)
In the third quarter (Q3, 2020), i.e., July to September 2020, a steep rise of 76.7% was seen in the estimated vacancies. The total number of jobs generated in the management sector increased from 66K to 119K in Q3 compared to Q2(2020).
Market Overview by Agency/Direct
In Q3, 2020, direct job postings were around 88K (74.1%) and agency job postings were approx. 31K (25.9%). Here too the same trend as the previous quarter can be seen. Job postings from direct companies are still soaring tremendously over the agencies.
Labour Market Overview (Management Q4 2020)
In the fourth quarter (Q4, 2020), i.e. from October to December 2020, the total number of jobs generated in the management sector slowly spiked from 119K to 130K (9.1%.).
Market Overview by Agency/Direct
The fourth quarter also continues to depict a similar trend. With 95K (73.1%) job postings, direct companies triumph over the agencies who have summed up to 35K (26.9%).
Labour Market Overview (Management Q1 and Q2, 2021)
A Steady Progress in the Recovery
Thanks to the Government’s effort in increasing vaccination drives and easing down the lockdown restrictions; in 2021, businesses started resuming in full swing and job market recovery happened rapidly.
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According to ons.gov.uk labour market statistics“In February 2021 to April 2021, the estimated number of vacancies reached its highest level since January 2020 to March 2020 (which is a pre-coronavirus (COVID-19) pandemic period), with growth picking up in the most recent quarterly estimates.”
Regional labour market analysis of management sector recruitment
To further our analysis, we conducted a regional labour market analysis of management sector recruitment as well. One can see that the number of vacancies in Q2 2021 is at its highest in the London area with a total share of 24.6%, followed by South East England (13.7% total share), and South West England (11.6% total share).
With a 24.3% total share, London alone has generated over 56K jobs in the management sector. There is a major contribution from the direct companies with approx 169K job vacancies and the rest of the numbers were made up by the agencies which were around 60K job vacancies.
1. Though there was a major drop of management job vacancies at the onset of the pandemic (April 2020), fortunately, the loss was made up substantially in the year 2021. Take a look at the comparison between Q2, 2020 and Q2, 2021 for better insights.
2. The number of jobs posted by the direct companies was 10 times more than the agencies.