Have you found you are struggling to recruit? Fear not, you are not alone!

Cast your mind back to March 2020 and the first UK lockdown – and you will doubtless recall the very genuine fears that the nation would be left with record levels of unemployment post-crisis. Yet in September 2021 the UK’s employment market looks anything but oversupplied with potential candidates. In fact, the recruitment of new employees has become a very real challenge for employers across an increasingly wide range of business sectors.

It would appear that employees are still hesitant to switch roles and sectors. A recent report found that whilst hiring activity continued to increase, the growth in new appointments has significantly slowed.

In the last few months the nation has witnessed job vacancies reach a record high, average earnings rise rapidly, and some employers have even resorted to offering ‘joining’ bonuses such is the urgency and need for new recruits.

Why so few candidates?

So, what has driven such a dramatic and unexpected change in the recruitment market?

There are perhaps some key factors to consider:

  1. There is clearly a shift in peoples thinking, as a result of the pandemic. People have considered what they want out of a job and want to be in a role that they love doing. Additionally, an unspecified but probably not insignificant number of workers have either opted to retire early or leave the labour force altogether as a direct result of the pandemic. 
  2. There is the impact of Brexit. Five years of political hiatus finally reached a conclusion on the 1st January last year, and whilst the statisticians may never be entirely clear as to how many EU nationals have left the UK since the referendum, it seems likely that estimates of around 1 million workers might not be far off the mark.
  3. Furthermore, people may be fearful of leaving their current job, due to the increased insecurity this brings. People will be mindful that starting a new role, means they are not entitled to redundancy or have employment rights, until having completed 2 years’ service.

Are you struggling to retain your top talent?

Whilst it may appear contradictory, it would also seem that businesses are also struggling to retain their top talent. Employees are quitting in droves, spurring the “Great Resignation” and hobbling employers’ retention efforts.

It is reported that almost a quarter of workers are actively planning to change employers in the next few months, prompted by a high number of vacancies and burnout caused by the pandemic.

A survey of 6,000 workers found that 69% of them were feeling confident about moving to a new role in the next few months, with 24% planning a change within three to six months.

Such a move will have considerable cost implications for employers and therefore businesses need to start looking at whether they need to improve pay and other conditions to help them retain their best staff.

What can you do to retain your top talent?

A recent report found that boosting pay was not the sole answer to improving productivity. Job seekers need to feel confident that the skills and qualifications they’ve gained in one sector are valued in another. So, what can you do:

Greater Manchester’s Good Employment Charter

The Good Employment Charter is an initiative which aims to raise the employment standards in Greater Manchester, regardless of business size, sector or geography.

It is an accreditation based on 7 characteristics:

Levels of membership:

There is no cost to be being a ‘Supporter’ or a ‘Member’ and it will do wonders for your reputation, culture and profitability! It is so hard right now to find and retain talent, so anything you can do to help with this is a plus. The Charter will provide you with a logo to use at each stage, so that you can advertise what a fantastic employer you are, and all the commitments you have made.

It may feel like a daunting thing, but we are here to support you along the way. We can liaise with the Charter on your behalf and feedback any actions that are required. Meaning that you get all of the benefits without any of the headache.

If you’re interested in hearing more, then please get in touch. 

You can also visit the Good Employment Charter website for more information: https://www.gmgoodemploymentcharter.co.uk

How Hallidays HR can help

If you would like to discuss any of the above in more detail, then please do not hesitate to contact us on 0161 476 8276 or email [email protected].

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