Home Business News FMCG job vacancies fall in response to economic challenges

FMCG job vacancies fall in response to economic challenges

by LLB staff reporter
14th Mar 24 12:59 pm

Employers in the FMCG sector have reduced their hiring activity in light of ongoing economic turmoil.

That’s according to the latest report from the world’s largest network of job boards, Broadbean Technology.

Last year, vacancy numbers fell by 33% when compared to the previous 12 months. There was a brief uptick in Q3 2023 when new jobs rose by 4% compared to Q2, however, this growth was short-lived.

Many employers in this industry have faced major financial challenges with macroeconomic pressures and the cost-of-living crisis leading customers to reduce expenditure. As a result, businesses have looked to reduce headcounts, and hiring activity.

Alex Fourlis, Managing Director at Broadbean Technology said, “It’s been a challenging period for FMCG employers who have suffered from the knock-on effects of the cost-of-living crisis, amongst other factors.

“We are unlikely to see similar redundancies to 2023 when almost 120,000 jobs were lost, however that’s not to say it won’t be a tough year ahead for businesses in this field. Many of these organisations gained from tax reliefs however the announcement in the Autumn Statement that business rates would rise once again was a major hammer blow.”

“Perhaps more worryingly for employers is that application numbers also fell, so any businesses that do look to boost their workforce may face a challenging task attracting new skills.

“Rather than switching hiring activity off entirely, they should look to continue boosting talent pools and focus on retaining the employees they already have, many of whom it appears may be considering a change in employer or even sector.”

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