Q1 and Q2 - The Impact of COVID-19
2020 started much like any other year in the power electronics recruitment market. Across the sector as a whole, there were more positions available than there were talented candidates to fill them.
Towards the end of February, we started to see a fall in the total number of job postings, as the potential impact of Covid-19 became more of a concern for employers. However, it wasn’t until March that we saw a sustained drop in postings that continued for the next few months.
Although the fall in demand for candidates was industry-wide, some employers, including those in the medical sector, continued to have strong demand for candidates in certain positions that we helped them to fill.
Q3 - The Recovery
After a downturn like no other, the power electronics recruitment market began to spark back into life in July, and that recovery has continued throughout Q3.
- Growth of candidate registrations
Power electronics candidate registrations are up, with some candidates considering their next move and others searching for new roles after being laid off during the crisis. This accelerating return to the market can be seen below.
- June to July - +5%
- July to August - +12%
- August to September - +22%
- New power electronics job postings
There has also been an increase in the number of power electronics roles that are being posted. That activity began in earnest in mid-August and the numbers have risen ever since.
- June to July - Flat
- July to August - +8%
- August to September - +15%
- Size of the candidate pool
Our market mapping allows us to determine the size of the current candidate pool. There are currently around 8,000 candidates directly involved in the power electronics industries in the UK (not including related industries). Of those:
- 5% are looking for a new role
- 15% are open to new opportunities
- Average power electronics salaries
We are also able to provide some insight into the average salaries across the power electronics industries in the UK. This salary information is based on 1,200 current power electronic employees:
- Entry-level positions - £31,000
- Average salary - £51,000
- Experienced workers - up to £87,000