July 20, 2018
Training and flexible working are the keys to staff retention
Firms are more likely to improve levels of staff retention if they increase their investment in training, and introduce more flexible working practices, according to a survey by the British Chambers of Commerce (BCC) and recruitment company Indeed. The survey, of over 1,000 businesspeople across all sizes or organisation and sectors, shows that just under half (42 percent) of businesses would invest in training and developing their staff in order to increase staff retention, while 38 percent would look to introduce flexible working practices, from flexible hours and remote working to job-sharing.
UK employment is predicted to grow strongly in the third quarter of 2017, but wage growth is likely to remain weak, according to the latest CIPD/The Adecco Group Labour Market Outlook. Although the UK labour market remains buoyant, basic pay award expectations for the next 12 months remain at just 1 percent. Put against the backdrop of poor productivity growth, the report points to an increase in labour supply over the past year as a key factor behind the modest pay projection. This is driven by relatively sharp increases in the number of non-UK nationals from the EU, ex-welfare claimants and 50-64 year olds. This increase in labour supply may explain why the jobs market remains challenging for some jobseekers, especially those seeking lower-skilled jobs. Employers report a median number of 24 applicants for the last low-skilled vacancy they tried to fill, compared with 19 candidates for the last medium-skilled vacancy and eight applicants for the last high-skilled vacancy they were seeking to fill. Overall, employers felt that around half of applicants were suitable for each role they were trying to fill.
If UK businesses are to remain competitive whoever wins the election on 8 June needs to invest in skills and career advice, as Brexit uncertainty means people are hesitating to move jobs, while there may be barriers in future to hiring workers from abroad; according to the latest research into the UK jobs market by the Recruitment & Employment Confederation (REC). The jobs market experienced the steepest drop in candidate availability for 16 months in April while demand for permanent and short-term staff remained high. Although growth in permanent starting salaries edged down to a four-month low in April, it remained sharp overall and stronger than the series average. Meanwhile, hourly pay rates for short-term staff increased at the sharpest pace in 2017 so far. Vacancies continued to rise markedly in April for both permanent and temporary/contract staff. This was despite growth in demand for both types of staff softening slightly since the previous month.
As alarm grows in some circles over the impact of technology on future job prospects, a new survey suggests that Millennial’s jobs are likely to be at lower risk of automation. Research into how different generations choose jobs by jobs site Indeed compared the online search patterns of millions of UK jobseekers over the six months to March and found that younger people are substantially more likely to choose roles deemed to be at lower risk of automation. Nearly half of younger jobseekers were drawn to automation-resistant jobs, compared to fewer than four in 10 over-50s. These baby boomers are two thirds more likely than millennials to seek the manual jobs at highest risk of automation. While nearly half of millennials (48 percent) were searching for what economists term ‘non-routine’ roles, 61.1 percent of baby boomers were looking for ‘routine’ jobs. Routine jobs – which include sales, admin, transport and construction roles – are seen as being at higher risk of automation than non-routine work, which includes management, professional and service roles.
March 21, 2018
There are at least some reasons to be optimistic about the UK’s tech sector post Brexit
by Gary Chandler • Comment, Property, Technology, Workplace design
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