Strikes and bank holidays are hot topics of conversation in my network at the moment. The kids being home on strike days on top of 3 bank holidays in the month has certainly given May a different feel altogether. The Coronation of the new King and Queen at the weekend gave many across the country something to celebrate and in the world of recruitment, we have seen some stabilisation during quarter 1.
In our newsletter this month we've taken a 'sharing is caring' approach; highlighting 3 reports/blogs that we think will interest, and, be useful to you.
The top takeaways from the Hiring Trends Index in Q1/2023...
Totaljobs' Hiring Trends Index provides a quarterly view of the UK job market and the recruitment trends shaping it.
- The labour market is stabilising, with the employment and unemployment rates stagnating at 75.7% and 3.7% respectively. OBR’s new forecasts predict that the unemployment rate will peak at 4.4%, instead of 4.9% in 2024.
- 78% of businesses recruited in Q1 2023, which is the same compared to the last quarter.
- More than a third (35%) of businesses increased recruitment in the first quarter of 2023, compared to 30% in Q4 2022.
- One-third (33%) of resignations in the past three months were driven by employees seeking a higher pay. Consequently, 34% of businesses see offering salaries in line or higher than inflation as a major challenge. Positively, this has reduced from 39% in Q4 2022.
- When asked about their top recruitment challenge, more than a third (37%) of HR leaders said labour/skills shortages. According to our findings; Construction (51%), Transport and Distribution (58%) and Social Care (49%) industries are especially impacted.
- The average mean time to hire stands still at 6.4 weeks, and a quarter (25%) of businesses think the lengthy time to hire is a challenge.
The full report from Totaljobs can be found here. It makes interesting reading, and I encourage business leaders to read it.
I am regularly asked by clients and businesses if I see the current jobs rich/candidate short market changing this year and at the moment my answer is a resounding no.
It's getting even harder to recruit with no letup in the number of job vacancies in the Dorset/Hants marketplace. Obviously, the perfect candidate or perfect job doesn’t exist and there always have to be compromises from both sides of the table.
People are moving jobs don’t get me wrong, but it's definitely harder with more counter offers taking place and more companies acting quickly.
9 tips for employee performance in the cost of living crisis
- Focus on employee engagement
- Prioritise employee wellbeing
- Be transparent with employees
- Look to build resilience
- Foster a future focus
- Develop healthy relationships
- Support physical wellbeing
- Provide personal and professional development
- Learn and strategise afterwards
To read the detail behind the headlines, click through to the full article on HRnews.
7 Characteristics of high-performing teams: What sets them apart?
In today's fast-paced business environment, team cohesion and effectiveness are more important than ever. Teams are the engine that drives performance, innovation, and growth. The benefits of maximising their performance are manifold, ranging from improved productivity and decision-making to increased employee engagement, and a more agile response to ever-changing market demands.
According to research by Aon, high-performing teams are 20% more productive and profitable, with 10% higher customer satisfaction. By understanding the essential traits that define these exceptional groups, leaders can foster an environment that supports collaboration, creativity, and results. Click through to read the full blog on thomas.
I'm more than happy to chat with anyone looking to recruit who doesn't know where to start, or wants some help with salary benchmarking, writing compelling job ads and interviewing advice.