Recent reports have claimed that Small and Medium sized manufacturing companies in the UK are holding almost £5billion in unsold stock.
ABFA reports that this figure shows an increase of almost £100m from last year and follows a pattern demonstrated continuously over the last 5 years. This figure is almost 16% of manufacturing sales nationally and is proving to be causing an issue with raising short-term finance and continuing growth. The funds held in unsold stock is resulting in across the board reductions in research and development, hiring and external BD which is starting to slow down the SME manufacturing growth figures.
ABFA go further to detail that the most commonly used resolution is asset based finance which, being secured, assists SMEs with more favourable lending costs.
Manufacturing vacancies in the UK are currently 6% of total vacancies with almost 48,000 vacancies in the last quarter. This figure whilst up slightly from the previous quarter is 2% down from the previous year. Further solutions to the unsold stock issue would likely increase investment in people across manufacturing. We have always found that the manufacturing sector has a buoyant candidate marketplace for roles of varying levels. Our clients who decide to advertise a manufacturing job with us, on average receive a very strong response rate particularly from the larger generalist job boards.
I have worked with That Recruit for the last four months to find suitable candidates for Abacare, our award winning care business. That Recruit recognise the need for our business to attract quality candidates to care for our service users in the comfort of their own home. I have found them to be helpful and reactive to our business needs and look forward to our continued working relationship.
Quantity of applicant received was tremendous. Required a lot of sifting but evident that the advert reached a broad spectrum of candidates.
We are happy with the service and quality of applicants.
We usually use recruitment agencies, however for this particular vacancy it seemed more appropriate to try a cheaper recruitment option. In setting up the initial advert it was very easy and quick, and the staff at ThatRecruit were very helpful and efficient in coming back to me and in authorizing the advert. The software to manage the vacancy was easy to use and the ability to mark candidates with a status was helpful. As an improvement it would be useful to be able to select all those marked as rejected and be able to bulk message them with a decline message or have an option to allow the candidates to see their status. Overall it’s been easy to manage this recruitment placement through ThatRecruit and we had an exceptional response to the advertisement with 72 applicants and having to close the advert early.
The process was easy to manage and we received a high number of responses.
Thanks again for your fantastic service don’t change anything it works great!