It’s January, which means it’s the time when we share the five sectors your recruitment agency needs to know in 2018.
Last year saw an increase in the popularity of the following sectors:
- Renewable Energy
- IT and Tech
So, with this in mind, let’s see what 2018 has to offer!
GDPR in 2018
Unless you’ve been living under a rock, you will have heard about the new data protection regulations that come into this year: aka GDPR.
As businesses across the UK have been trying to work out exactly what changes will come into play in May, as well as what is required of them, there has been an increasing need for the help of a GDPR expert.
And, as the deadline to become compliant with the new regulations draws ever closer, the GDPR specialist sector as grown. This expansion has been both an internal and external situation.
Internally, there has (and will continue to be) the emergence of new roles, such as Chief Data Officer, Data Manager, Data Controller, etc.
According to the International Association of Privacy Professionals, as many as DPOs will be appointed on a global basis to deal with GDPR. This equates to a staggering 75,000 job opportunities.
Externally, more people have been setting up shop as GDPR Advisors, working independently to help businesses ensure they are GDPR-compliant. Further to this, we have seen a growing number of GDPR-focused companies launching. Their mission is to help businesses remain compliant across the board, whether that’s on social media, data, transactions, and so on.
Here’s a few examples of businesses who are cashing in on GDPR
- Seed Media Ltd – a GDPR-compliant Martech company
- OneTrust – a company who specialises in automating privacy impact assessments and personal data inventory mapping
- Notakey – a Fintech who offer a secure way to notarise digital transactions and electronic documents
A recent survey, conducted by Robert Half, found that contract and permanent GDPR jobs are on the rise, as the need for businesses to put processes in place to meet the new requirements increases. And 66% of companies in the UK are planning to hire permanent employees to manage their GDPR compliance, with 64% also looking to hire temps.
AI in 2018
The UK technology sector is thriving, and 2018 is the year of Artificial Intelligence.
Though we’re not quite at the stage of I, Robot yet, the industry is certainly taking steps in that direction! And this industry is growing on a global basis. DeepMind AI only needs four hours of self-training to become a chess master (seeing as I have gotten quite far in life and still have no idea how to play chess, I find this very impressive!)
According to a survey completed by Indeed, 10% of all jobs created in the UK in 2017 were within the technology industry, with a particular onus on Artificial Intelligence. In fact, this sector grew so quickly last year that there weren’t enough people to fill the roles. Jump forward to 2018, and those roles are being filled, whilst more are being created.
Here are a handle of companies to watch out for:
- Callsign – a company who focuses on AI and Cyber Security Intelligence Driven Authentication
- DiffBlue – a University of Oxford spin-out that is applying AI to software development
- LoopMe – the first company to close the loop on brand advertising attribution for offline sales, using AI and mobile data
In 2018, AI will continue to be one of the fastest growing sectors, with the emergence of new technologies and more tasks becoming automation. Let’s just hope the robots of 2018 don’t turn on us like they did to Will Smith…
Space in 2018
Will 2018 be the final frontier? Probably not, but the Space industry will continue leading the popularity race this year.
To date, the industry is one of the UK’s biggest success stories. According to UKspace, it adds £7 million to the economy, provides 70,000 jobs, has the most highly skilled manufacturing workforce and accounts for 7% of the global space market. It is also growing four times faster than the rest of the UK economy.
The growing need for internet access around the world is a huge driver behind the sector’s continuing growth. Google and Facebook, amongst others, are working on sending drones and balloons into the sky to provide fast internet to remote areas.
Space companies to watch this year include:
- Reaction Engines Ltd – A company who focus on next-generation aerospace propulsion development, and are the owners of the SABRE air-breathing rocket engine
- Alba Orbital – they build and design the world’s smallest commercial satellite platforms
The UK Space sector is definitely one to watch in 2018, as it’s bound to continue adding value to the global industry, which is forecasted to be worth half a trillion by 2020.
Discover everything you need to know about entering, scaling and thriving in the hot UK contract recruitment market.
Cryptocurrencies in 2018
When cryptocurrencies first appeared, no one really knew what to make of them. The creator is unknown and the origins can only truly be understood by reading a dissertation-length document about them.
Bitcoin is the most prominent cryptocurrency, however, perhaps as a clear indicator of the popularity of cryptocurrencies, there are now over 1,000 of them. And this growth is reflected in the job market. In 2016 alone, there were almost 450 cryptocurrency-related job postings on AngelList. And in the latter half of 2017, the jobsite saw a 100% increase in advertised cryptocurrency jobs.
Further to this, research conducted by LinkedIn found that bitcoin-related job postings increased by an amazing 900% in the past three years! Click here to see just how impressive the growth of the cryptocurrency industry is.
This surge in recruitment didn’t just offer tech roles, but covered all functions within a business. Cryptocurrency businesses are investing their money into expanding their internal headcount, to match the increased interest in cryptocurrencies. And with job perks including flexible contracts and high salaries, people are queueing up to get involved.
Some businesses to look out for:
- Seratio – a company who focuses on the social innovation measurement of intangible non-financial value, blockchain and cryptocurrencies
- Wirex Limited – a global leader in blockchain personal finance, with over 900,000 customers in more than 130 countries
- Coinfloor – a cryptocurrency exchange that enables verified customers to trade bitcoin and bitcoin cash
Cryptocurrency is probably the most in-demand market there is. As its popularity continues to dramatically grow, this sector is certain to take 2018 by storm.
Fintech in 2018
Last, but not least, the Fintech industry will continue to dominate the UK economy. Even through the uncertainty of Brexit, this sector carried on growing and is on course to carry on doing so in 2018.
The increased demand for fintech businesses is clearly highlighted through the increase in job vacancies. Joblift reported that the number of fintech jobs posted in the UK grows by approximately 5% each month.
According to the City of London, fintech could grow by at least 5.1% over the next year. By 2024, it is expected to create 46,000 new jobs and contribute an additional £12 billion of economic output.
Fintechs to watch in 2018 include:
- N26 – originally a German company, they rival the highly-successful Monzo, and their digital platform is aimed at millennials and young professionals
- Brick Lane – an online property ISA that allows anyone to participate in the housing market with an initial investment of as little as £100
- Token – a company that offers an open banking platform that makes it easier for people, businesses and FIs to move money around
The Fintech industry is sure to continue thriving in 2018. And, with UK banks changing to open banking this month, new opportunities will arise from the get-go.
As we get started in 2018, now is the perfect time to seize the opportunities available to your recruitment agency and reach out to businesses in these dominating sectors.