After a tense few months as the country has braced itself for the expected fall-out after Brexit, the UK economy has proven impressively resilient to any significant impact, with growth forecasts for 2017 expected to maintain the 2.2% yoy increase seen in Q4 2016.*
Coupled with unemployment rates that are anticipated to stay around 5%** throughout the year, it seems that the broader UK environment is so far weathering the storm. But what does this translate into for marketers in 2017?
Staffing levels expected to increase
A recent survey undertaken by Marketing Week*** shows that whilst many marketers expect an 18% drop in budgets this year, with many businesses seeking to bring activity that has traditionally been outsourced to agencies in-house. Consequently, over half of marketers surveyed expect that staffing levels will rise. This increase suggests a confidence in the market, with employers continuing to bring in the necessary skill sets that will help to drive the focus in those channels delivering the highest growth potential.
However, marketers are displaying a trend of staying in roles for longer than before, with over 50% staying in role for one to three years in 2016, with an additional 13% in role for over four years. This tendency may well be a result of a nervous workforce wanting to mitigate risk in what is perceived to be an uncertain time, and as such is unlikely to change drastically this year.
Restructures trending to resource the right skills
Consequently, the trends towards an increasing focus on analytical, data driven marketing and specialist expertise will see employers seeking to upskill their existing teams or re-structure to bring in those skill sets that required. Over 56% of respondents cited experience of a restructure in 2016 a trend that will likely will carry on into this year.***
For those seeking to move jobs, marketers are looking beyond purely financial benefits with a good working environment important to more than 70% of marketing personnel. It is in employer’s interests then to ensure that they are offering not only a strong financial package, but a positive working environment and career progression if they want to attract the top talent in 2017.***