Labour Market Outlook
Posted on 26th June 2023 at 13:23
As the UK narrowly avoids a recession, many employers are still recruiting, with many having hard-to-fill vacancies, 2 in 5 employers (42%) report having problems filling vacancies, particularly within education and healthcare.
This situation is expected to continue for the next 6 months. With the Office for National Statistics reporting 1.1 million vacancies in December 2022 to February 2023.
To combat these recruitment problems employers have responded by upskilling more existing staff and raising wages. Average pay growth for the private sector is reported as being 6.9% (ONS). In the future, employers are also looking to improve job quality, this may include offering better contracts, for example, guaranteed hours, improving work-life balance through offering flexibility, improving relationships at work, introducing wellbeing programmes, improving benefits offered
If you are currently experiencing recruitment problems the following may help:
• Review your recruitment marketing practices e.g. are you advertising widely, does your advert promote your business
• Review your recruitment process e.g. once you have received CV’s do you arrange interviews quickly.
Many employers lose good candidates by delaying this part of process
• Review your selection process – during the interview are you focused on task and neglect attitude and
the person in front of you. Employers regularly report selected new employees taking up other
employment elsewhere
• Effective Induction – do you have an induction process that will quickly get the new employee working
efficiently and effectively
• Understand your employee turnover – do you have new employees leaving the business not long after
they have started, usually stating salary as a reason for leaving
If you require any further information on our HR services please click here. Alternatively you can click on the tags below for more reading.
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