| Are we in a recession? No-one really seems to know. We entered one in Dec 2023 and it certainly feels like one in our main sector – finance & accountancy recruitment. The number of vacancies has decreased in the commercial sector in Norfolk, more so in some sectors such as Construction, but we hear signs of optimism for the Autumn and have seen plenty of business from our practice clients, particularly during the 2nd quarter.
In order to be ready for more economic and political certainty, when the cycle and narrative shifts to the upside, we would recommend you to start workforce planning now. For guidance on this contact us at enquiry@bigskyadditions.co.uk |
| Economic pressures:
Inflation has taken its toll but with recent figures stating inflation has come down to 2.3%, with core inflation at 3.9% (obviously it’s much higher in real life i.e. 20-30% increase in energy costs since 2020) there is hope this may push the Bank of England to lower rates and then capital can be injected into the market again to encourage actual growth. With the election now announced for July 4th it is widely expected the Tories will lose convincingly but will Labour do any better with the economy if they win? |
| Challenges & Opportunities of AI: Regardless of the uncertainties, this year has been a good opportunity to update our systems, reconnect with clients and make sure we’re as ready as we can be for this AI revolution that is upon us whether we like it or not! At Big Sky Additions we know the importance of keeping the human element within our service and also know we need to adapt to the new technology which is already having a positive impact in the way we work.
For those who have embraced AI already, even if it’s just using the chat GPT free version you will have some idea. Some people think it will be bigger than the internet, others think it will be dystopian, one thing for sure is that every sector will be using AI in their business sooner rather than later. The question is: are you going to wait for AI to be immersed into your business or will you take action and embrace the changes AI can make to your business to save you time and to improve productivity? To tap into our knowledge gained from our research email us enquiry@bigskyadditions.co.uk Some useful links to speed up your AI learning: https://uk.indeed.com/career–advice/career–development/artificialintelligence–in–recruitment https://www.workingdads.co.uk/how–to–use–ai–in–your–job–search/ |
| We have already embraced AI as part of our business operation and have seen some positive initial benefits. To discuss how AI may impact your business reach out to enquiry@bigskyadditions.co.uk or call Sam or Justin on 01603 516254/230 |
| web: www.bigskyadditions.co.uk |
| Registered in England & Wales No. 07136736 |
Sector Update and Future Trends
