As the UK’s job market begins to spiral, there is a heavy chance the Cayman Islands will also become affected. What does this mean for Cayman, our job seekers, and our future? In this blog, we speak about the current UK and Cayman job market changes.

The UK’s Job Market VS Cayman

CAccording to a blog in the UK’s Daily Telegraph today, Britain’s job market has rapidly declined as more employers delay hiring decisions. What does this mean for the Cayman Islands? As recruiters, we are happy to announce that although the UK’s job market is plummeting, there is still enthusiasm for job seekers. CML Offshore Recruitment has undoubtedly seen an increase in the number of CVs received from all business sectors. While this is excellent news for us recruiters, that does not mean there is an abundance of jobs available to meet the demand of job seekers, and it does not mean Cayman’s hiring managers and employers are able to recruit actively at this time.

However, we would argue that whilst Cayman’s turnover rates in roles have been steady, the job market growth in the Cayman Islands is still moving in a very positive direction. With various initiatives underway by large organizations such as Cayman Enterprise City and CI Hospitals, 2012 should allow us to increase the introduction of more candidates to clients.

Search for Talent Continues Overseas

In the face of redundancy and difficulty finding qualified local talent, employers in the Cayman Islands have resorted to searching overseas for the next set of qualified talent. Here are a few roles employers recruit overseas for:

• Newly qualified Auditors.
• Seniors with financial services experience.
• Funds Accountants with experience.
• Lawyers with experience.
• Insolvency Practitioners.
• IT specialists in the following areas:
• Virtualization/Infrastructure
• Software Development
• Networking
• Legal Secretaries, Paralegals and Corporate Secretaries
• Trust Managers

Working in the Cayman Islands

As with most offshore jurisdictions such as Bermuda and BVI, potential candidates must gain an approved work permit before officially relocating. If you are currently located overseas, you will be especially attractive to potential employers if you are single or have a partner with a professional designation. Additionally, many employers will search for candidates with no children, as this can be an added to the overall costs of recruiting you to the island.

Many people think that Cayman is too good to be true. We are a tax-neutral jurisdiction with a comparable cost of living, good work-life balance, and we are never more than a few minutes from the beach! Who wouldn’t want to live here?

If you are seeking to relocate to the Cayman Islands from the UK, Bermuda or BVI, CML Offshore Recruitment is the place for you. Feel free to contact info@cml.ky to get in touch with our experienced team for relocation, job search, and recruitment assistance.