Two-thirds of those working in the built environment sector think the Olympics are unlikely to deliver long-term employment growth, despite the London Legacy Development Corporation (LLDC) announcing its plans to kick-start the regeneration of Stratford and the Olympic Park now that the Games have come to an end.
The findings from Careerstructure.com, the leading recruitment site for the built environment sector, indicate that the Olympics¹ effect on recruitment will not extend beyond the Games. Interestingly though, there is a feeling that overseas markets will value the skills and experience of UK property professionals with two-thirds of respondents stating that they thought British candidates will be viewed as more attractive to overseas employers as a result of the successful delivery of summer¹s events.
Richard Nott, Website Director, CareerStructure.com said: ³Respondents conceded that the Olympics provided a much needed boost to jobs in the property sector in the short-term but the majority expect this spike to now end along with the Games, despite legacy regeneration plans. Recent announcements from Government of more funding and the relaxing of planning laws are moves which perhaps have greater potential to deliver growth in jobs in the long-term, but an immediate, tangible impact is not being felt.²
Three-quarters of those surveyed agreed that any Olympic boost to jobs would drop within three years of the Games ending and a quarter said the job market would weaken in less than a year.
Certain disciplines within the property sector were however, highlighted as having the greatest chance of seeing a boost from the Games. In particular; Civil Engineers, Project Managers and Architects were named as the three with the highest potential.