According to the latest Purchasing Managers’ Report, political uncertainty is a key reason for reduced investment along with a decline in manufacturing and service output.
However, the report also has some interesting and positive commentary; particularly for consumer goods and services with confidence in some sectors now reaching a four-month high. Only time will tell if this is as a result of Brexit becoming more of a reality or the effect of the spending promises from all political parties.
With some managers planning to hire for product launches and others suggesting that a positive outlook was contingent on a more stable political landscape, are companies preparing themselves for an economic uplift in 2020?
It is quite possible that the events on the 12th December could result in a sharp increase in confidence, directly followed by a requirement for increased management and development resources.
Anecdotally this fits well with our experience of recent weeks. Several clients have already taken soundings on their potential recruitment and interim project requirements for the New Year.
In our experience changes in recruitment demand in a supply chain candidate market, with finite high-calibre resources, can be swift and profound.
None of us can predict the outcome of the General Election and what level of certainty it may bring. But based on the early signs, and our experience, a boost in confidence can result in a marked increased requirement for talent. Acting on your needs in February could be too late.