Hiring in the media and communications industry spiked in October compared with the previous month, but there is still a significant lag behind other professional services sectors such as finance and legal, according to new research.
The data, from LinkedIn, shows that the hiring rate in the UK media and communications industry increased 41% in October 2020 when compared to September, a significant increase and the second biggest of any sector analysed (after legal).
However, it also revealed that the overall hiring rate in media and communications still trails the finance, legal, corporate services, retail and real estate sectors, and is currently 11% down for the calendar year to date.
Tom Pepper, Head of Marketing Solutions UK, Ireland and Israel at LinkedIn, said: “2020 has been a challenging year for the industry as companies have grappled with budget cuts, furlough and redundancy. However, it’s positive to see some green shoots emerging and an increase in hiring as companies invest in reinventing their brands, and stimulating consumer and customer spending. Research from LinkedIn finds that despite the pressures the industry has faced, marketers are optimistic about the future and the return to growth. This is the time to enhance skill sets to improve employability, particularly digital and social media skills, as many brands shift spend to digital channels to drive greater reach and business impact.”
Chris Mole, CEO at Molzi, an ecommerce sales and marketing agency, said: “Overall marketing budgets are inevitably impacted by such an unpredictable macro-economic climate, but we’ve seen the pandemic prompt brands to invest heavily in marketing to boost ecommerce sales in an increasingly competitive market. We’re growing fast and have taken the strategic decision to focus heavily on recruiting people with digital marketing skills.”
Additional research from LinkedIn finds that as well as bolstering digital skills, marketers are also honing essential soft skills. Two-fifths (42%) say that they have had to adapt marketing content and creative as a result of COVID-19, to be more human centric and emotional in nature. As we enter 2021, emotional intelligence, empathy and intuition will be crucial to helping brands connect to audiences on a deeper level.
To help people who are looking for their next opportunity, Microsoft and LinkedIn are offering nearly 1,000 hours of free learning courses at opportunity.linkedin.com. Marketers can hone their digital marketing skills by taking free courses on social media, content strategy, SEO, marketing channels and analytics, in addition to courses on soft skills and leadership skills.
Methodology
The LinkedIn Hiring Rate (LHR) is the count of hires (LinkedIn members in each industry who added a new employer to their profile in the same month the new job began), divided by the total number of LinkedIn members in the U.K. By only analysing the timeliest data, we can make accurate month-to-month comparisons and account for any potential lags in members updating their profiles. This number is indexed to the average month in 2015-2016 for each industry; for example, an index of 1.05 indicates a hiring rate that is 5% higher than the average month in 2015-2016.
Additional research from LinkedIn was also referenced which surveyed 300 marketers in UK organisations during June 2020.
