THE BATTLE FOR TALENT CONTINUES AS EMPLOYERS' VACANCIES CHASE A DWINDLING POOL OF CANDIDATES
Posted on 28th July 2022
Responding to recent ONS figures, Jonathan Boys, labour market economist for the CIPD, the professional body for HR and people development, comments: "The battle for talent continues but it could be about to peak soon. Vacancy postings were slightly lower in April-June than Mar-May 2022 but remain at very high levels. On the candidate side, the pool of unemployed and inactive continues to fall. Competition for staff is therefore fierce. Redundancies reached a record low of 1.8 per thousand employees showing that employers are paying just as much attention to retention as they are recruitment.
4.5 MILLION BRITS CONSIDER MOVING ABROAD FOR WORK
Posted on 28th July 2022
Over 4.5 million UK workers are considering moving overseas for a better quality of life, as a result of the cost of living crisis and for better career opportunities as research from Totaljobs shows businesses are struggling to recruit both at home and abroad.
COST-OF-LIVING CRISIS IS HITTING PAY PACKETS BUT NOT JOBS AS SOME OLDER WORKERS RETURN TO WORK
Posted on 28th July 2022
The inflation-led cost-of-living crisis is causing a huge fall in the value of real wages, but has not yet hit the jobs market as older workers in particular are returning to work in the face of rising cost pressures, the Resolution Foundation said in response to recent ONS labour market statistics.
NOT ADDRESSING LABOUR SHORTAGES COULD COST UK ECONOMY £30 BILLION EVERY YEAR
Posted on 28th July 2022
Economic modelling for the Recruitment & Employment Confederation (REC) has found that with a 10% spike in demand in the economy, and the labour market restricted by shortages, the UK economy would shrink by between 1.2% and 1.6% by 2027, relative to where it would be without these shortages. This could cost the economy anywhere between £30 billion and £39 billion every year - equivalent to losing almost the entire current defence budget or two Elizabeth Lines annually.
LESS THAN HALF OF WORKERS FEEL ABLE TO SWITCH-OFF FROM WORK, NEW RESEARCH SHOWS
Posted on 23rd June 2022
New research published by Business in the Community (BITC), The Prince's Responsible Business Network, has found that only 45% of employees feel that they can switch off from work, with the other 55% stating they feel pressured to respond to calls or check emails after working hours. Of the employees who worked from home, 49% said they feel they can switch off from work, compared to 45% of employees who travel to and from work each day.
COST OF LIVING CONCERNS ARE PUSHING PEOPLE TO WORK MORE HOURS AND THROUGH ILLNESS
Posted on 23rd June 2022
New research highlights the significant impact of the cost of living crisis on people's home and work life - driving them to change jobs, take on more hours, and even attend work when they should be off sick. Nearly one in three (31%) of the 1,006 UK-based workers polled by HR software provider CIPHR in May report working more hours or extra shifts because of rising living costs over the last few months, and one in eight (12%) have taken on an additional job.
CMI RESEARCH REVEALS DISCRIMINATION IN THE UK WORKPLACE IS ENDEMIC AND IS HOLDING BACK THE ECONOMY
Posted on 23rd June 2022
Analysis by the Chartered Management Institute (CMI) has revealed that, despite the appearance of an "all-inclusive" workplace culture, many employees in the UK are based in organisations that have systemic challenges when it comes to workplace inclusion.
LOW UNEMPLOYMENT MEANS EMPLOYERS WILL LOOK TO TEMPT THE ECONOMICALLY INACTIVE BACK INTO WORK
Posted on 23rd June 2022
Responding to the latest ONS figures, Jonathan Boys, labour market economist for the CIPD, comments: "If judging the labour market on the record low unemployment figures then the picture is rosy. However, despite unemployment continuing to fall, there are still fewer workers than pre-pandemic. At the same time demand for staff remains strong as employers continue to post a record 1.3 million vacancies. The inability to recruit and retain staff is holding some businesses back, so it's important that businesses look at how they can take on people that have been economically inactive, as well as other key groups.
MID-MARKET CHAMPIONS HYBRID WORKING, BUT STRUGGLES REMAIN
Posted on 29th May 2022
New research from Grant Thornton UK LLP's latest Business Outlook Tracker finds that, since the lifting of legal COVID-19 restrictions in February, just over half (51%) of the 604 mid-sized businesses surveyed have adopted a hybrid working approach. This is quite a significant dip compared to responses from the December 2021 round of the Tracker, when 88% of respondents surveyed were working in a hybrid way.
HOMEWORKING HAS TRIPLED SINCE BEFORE THE PANDEMIC - TUC
Posted on 22nd May 2022
Friday 20th May marked the 17th annual Work from Home Day, organised by Work Wise UK as part of Work Wise Week - aimed at promoting employment practices that improve work-life balance. Regular homeworking by UK workers has tripled since before the pandemic, reports the TUC, rising from 6.8% in 2019, and 12.1% in 2020, to 22.4% in 2021.
PLENTY OF JOBS AND NOT ENOUGH CANDIDATES BUT REGULAR PAY STILL FALLS SHORT OF INFLATION
Posted on 22nd May 2022
Responding to the recent ONS figures, Jonathan Boys, labour market economist for the CIPD, the professional body for HR and people development, comments: "Consumer confidence is waning, and forecasts of many economic indicators look gloomy, but the labour market remains in rude health. Businesses continue to post a record number of job vacancies, but candidates remain in short supply. Indeed, for the first time ever there are fewer unemployed people looking for work than there are vacancies.
CMI REACTS TO CONSUMER PRICE INFLATION
Posted on 22nd May 2022
Reacting to the release of the Consumer Price Inflation, Anthony Painter, Director of Policy at CMI commented "Prices for households and businesses have surged to their highest level in 40-years at 9.0% in April 2022, up from 7.0% last month.
INDUSTRY ANALYSIS - WHAT'S CAUSING THE UK'S CANDIDATE SHORTAGE?
Posted on 10th May 2022
We recently asked for your views on what you believe has most directly lead to the UK's candidate shortage. After reading your insights into the current job's market and wider economy, we wanted to highlight some of the latest industry findings that are collectively shaping such a highly competitive hiring landscape.
EMPLOYERS AND EMPLOYEES FACE A GREAT COST SQUEEZE
Posted on 27th April 2022
Britain's workers seeking pay rises and extra help from their organisations are often coming away empty handed, research by the Chartered Management Institute has shown. Whilst half of companies are providing basic pay awards, 48% reported that no raises are being offered or that they were unaware of plans to do so. The research also showed that 1 in 3 private sector managers are concerned about the financial strength of their organisation.
TIGHT LABOUR MARKET BUT PAY STRUGGLES TO COMPETE WITH RISING PRICES
Posted on 27th April 2022
Responding to the recent ONS figures, Jonathan Boys, labour market economist for the CIPD, the professional body for HR and people development, comments "The labour market remains tight. At 3.8%, unemployment is incredibly low. Candidates for jobs are in short supply but demand for staff continues at pace with another record-breaking vacancy level reached this month.
MORE EMPLOYERS LOOK TO HIRE PERMANENT STAFF DESPITE ECONOMIC WORRIES
Posted on 27th April 2022
Employers' confidence in the UK economy took a turn for the worse during the first quarter of 2022 as inflation reached its highest for 30 years. That's according to new data from the Recruitment and Employment Confederation (REC).
WHAT'S THE LARGEST CONTRIBUTING FACTOR TO THE CURRENT CANDIDATE SHORTAGE?
Posted on 11th April 2022
In our latest poll, we'd love to have you thoughts on what you believe has been the most significant factor to the UK's candidate shortage. From Brexit to coronavirus and changing candidate attitudes, have your say.
MOST WORKERS THINK THEIR LAST PAY RISE WAS UNFAIR
Posted on 23rd March 2022
New research by HR and payroll software provider CIPHR suggests that over two-thirds of workers think their most recent pay rise was unfair and didn't reflect their job performance. Despite this, only one in nine (11%) are actively job hunting and interviewing for a new role.
UNEMPLOYMENT NEARS RECORD LOW BUT BRITAIN'S PAY SQUEEZE DEEPENS
Posted on 23rd March 2022
In response to the latest ONS labour market statistics, the Resolution Foundation has commented that a tight labour market has seen unemployment fall close to a record low, but surging inflation means that Britain's ongoing real pay squeeze is getting deeper, particularly for low earners.
2 IN 5 EMPLOYERS EXPECT STAFF NUMBERS TO INCREASE
Posted on 23rd March 2022
Research from Acas, the advisory, conciliation and arbitration service, has shown that 41% of British employers expect the size of their workforce to increase over the next twelve months.
EMERGING ECONOMIC SLOWDOWN HEAPS FRESH PRESSURES ON UK INDUSTRY
Posted on 22nd March 2022
Various challenges to UK industry need to be mitigated through Government support and strong business practice, the Chartered Management Institute (CMI) has said, highlighting the economic effects of the war in Ukraine adding to enormous headwinds already buffeting the UK economy.
EMPLOYERS SHOULD STILL BE CAUTIOUS AND RECOGNISE THEIR LEGAL DUTY OF CARE TO EMPLOYEES
Posted on 22nd February 2022
The Prime Minister has revealed the Government's 'Living with Covid-19' strategy. This includes the lifting of self-isolation requirements for those who test positive for the virus and the gradual withdrawal of free testing for the public at large in England.
STARTING SALARIES CONTINUE TO RISE AMID SHARPER DROP IN CANDIDATE SUPPLY - REC
Posted on 22nd February 2022
The latest KPMG and REC, UK Report on Jobs survey signalled a further steep increase in hiring activity at the start of 2022. Permanent placement growth eased slightly since December, however, while the upturn in temp billings gathered pace.
A THIRD OF BUSINESSES PLAN TO SCRAP SELF-ISOLATION FOR WORKERS
Posted on 22nd February 2022
A poll of 250 business owners, CEOs and senior managers, by HR software provider CIPHR, found that less than half (48%) are planning to keep staff with Covid at home and away from the workplace. One in five (21%) of those surveyed are still unsure how they'll deal with the imminent easing of self-isolation restrictions for positive or asymptomatic people.
SOCIO-ECONOMIC BACKGROUND A FACTOR IN CAREER PROGRESSION - CMI
Posted on 22nd February 2022
Many believe their organisation is doing little to support the career development of those from lower socio-economic backgrounds, research by the Chartered Management Institute (CMI) has shown. Respondents also believe that once in work an employee's background continues to impact their career progression.
BIG COMPANIES ARE IGNORING POVERTY, ARGUES THINK TANK
Posted on 21st January 2022
The Social Market Foundation think-tank found that FTSE-100 companies are 64 times more likely to address environmental issues than to discuss poverty in their statements about Environmental, Social and Governance work. Governance issues also receive vastly more attention from big UK firms than concerns about employees, suppliers, and stakeholders living in poverty, the SMF said in a new report.
JOB VACANCIES HIT RECORD HIGH, BUT REAL PAY IS FALLING
Posted on 21st January 2022
The latest labour market stats continue the trend of low unemployment and high vacancies. Most figures run to November when the economy reached its pre-andemic size. To meet demand firms were hiring. Despite this, regular pay, though growing at 3.8%, could not keep up with inflation in the year to November and fell 1% in real terms. However, some white-collar workers such as those working in finance and business services got larger pay rises with a 6.1% rise in nominal pay.
RECRUITMENT AND EMPLOYMENT CONFEDERATION (REC) RESPONSE TO ONS LABOUR MARKET STATISTICS, JAN 2022
Posted on 21st January 2022
The Office for National Statistics recently published its latest labour market statistics (18 January 2022). Commenting on the figures, REC Chief Executive Neil Carberry said: "The strength of the UK jobs market remains remarkable by any historic comparison, as vacancies rise and unemployment drops. It's clear that temporary and part-time work is playing a key role as people find new roles in different sectors as the economy changes rapidly. More short-term and part-time roles may also reflect greater flexibility from firms as they struggle to hire in this market.
HALF OF WORKERS WOULD QUIT TO MOVE TO AN EMPLOYER THAT PROVIDED BURNOUT SUPPORT
Posted on 21st January 2022
More than half of UK based employees would leave their jobs in favour organisations that can offer better support for stress and burnout. A new report, Performance Management Report 2022, by Clear Review, an Advanced company also reveals that nearly half of workers don't feel their managers take any steps to help them avoid the problem of burnout - a problem which impacts over 800,000 British workers with over half reporting that this is due to the pandemic.
WHAT ARE YOUR GOALS FOR 2022?
Posted on 8th January 2022
It's definitely not too late to think about your business resolutions for getting 2022 off the best possible start! Two of our main resolutions for the year ahead focus on seeing even more of our clients and candidates in person and continuing to share as much of our expertise and industry knowledge as possible.
