Just under a third of employees are planning to switch employer soon, with Gen Y most likely to leave, finds a new report, “Finders Keepers? Exploring How to Source, Hire and Retain the Best Talent”. The research from recruitment firm Quarsh claims that 10 percent of employees are searching for a new opportunity at the moment, and a further 20 percent will be looking for a new role within the next three months. Because one third (35 percent) of those currently looking expect to still be working for their current employer in 12 months’ time, the report warns that management need to focus not just on hiring, but also employee engagement. The report claims that organisations seeking to engage and retain their current workforce need to focus on offering an ’employment experience’ that stretches beyond the ‘tangible’ elements of the job, such as salary.

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There’s been a dramatic increase in the number of workers planning to move jobs. According to the latest research by the Institute of Leadership & Management (ILM), 37 per cent of workers are planning to leave their current jobs in 2015 – compared to 19 per cent in 2014 and 13 per cent in 2013. Of those who left their jobs in 2014, 35 per cent cited greater opportunity for progression as their main motivation for seeking a new role – compared to only 12 per cent who sought a higher salary. In 2015, that has increased to 59 per cent, meaning increased opportunity is a number one priority; beating a better salary (56%), a more interesting role (50%) and better management (30%). Staff are also feeling increasingly undervalued by their managers. 25 per cent of those planning to leave said they felt unappreciated in their current role, almost 10 per cent more than last year (16%). More →

The economic impact of unfilled job vacancies on the UK economy may be leading to a staggering annual cost of over £18bn. Research by job site Indeed, claims that falling unemployment and robust job creation is resulting in many businesses finding it a challenge to locate and secure the right employees. This inability to find and recruit the right hire for a role is impacting on both the business itself and the wider economy in two major ways. For the employer, failing to effectively resource a business slows both production and profits, while in the wider economy unearned wages reduce consumer spending power and contribution to economic growth. ‘Empty desks’ in the real estate sector are having the greatest impact on the UK economy, due to high levels of contributed economic value (the goods and services that could be produced if the position were filled).

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There was a record fall in permanent staff availability in June, according to the latest Recruitment and Employment Confederation (REC) and KPMG Report on Jobs which found the rate of contraction has accelerated to the sharpest seen in the survey’s history, which began back in October 1997. There was also a sharp deterioration in availability of temporary/contract staff, with June’s drop the greatest seen since March 1998. Amid reports of a shortage of suitable candidates, and with demand for staff increasing, permanent salaries rose during June at a survey record rate. However, as demand for staff has grown, this month saw the number of workers available to fill vacancies plummet to an all-time low, in particular across business development and sales. The latest report fuels concerns of a vacancy vacuum – and a reminder for employers that, for staff, remuneration is about much more than take home pay. More →

Employers are increasing their permanent headcount at their fastest rate since before the recession. Consistently positive GDP results, coupled with reports that business optimism is at its highest level since 1998, has driven impressive growth across the entire professional jobs market, according to the latest data from the Association of Professional Staffing Companies (APSCo). It reports that the placement of professional talent increased by 29 per cent compared to the same time last year, with particularly strong growth in sectors such as accounting and finance. This mirrors plans by the Big Four accounting firms to substantially increase their graduate level recruitment this year; with KPMG and PwC, for example, both planning to hire 30 per cent more candidates than last year. Although it’s good news for the jobs market – analysts warn that managers must plan ahead to ensure they retain and attract the right talent. More →

Measuring the impact of wellness initiatives at work is far from being an exact science. An examination of sickness absence figures for example, must take into account many variables; from the state of health of employees before the outset of a wellbeing programme, to the reasons behind each individual’s days off sick after a health programme has been put in place.  There is though, a growing body of evidence that employers that bother to provide their workers with the tools to improve their level of health and wellbeing do benefit from a more engaged and more productive workforce. The latest bit of research by Unum and ICM finds that employees who feel that they have good workplace wellbeing are 27 per cent more likely to stay with their employer for over five years than those employees who feel they have only adequate or poor provision. More →