May 16, 2018
Jobs vacuum due to high employment and skills shortage is creating a war for talent
Figures published yesterday showed that the jobless rate has fallen to 4.2 percent, the lowest since 1975 according to the Office for National Statistics (ONS). While good news for the economy, the challenge for employers will be recruitment. On average, over 40,000 job vacancies are left unfilled for over six months according to research by Robert Half UK. The figure doubles to 80,000 for roles left vacant for more than a month. The findings come following research into the UK job market looking at trends in the modern workplace which confirmed that high employment coupled with an ongoing skills crisis is leading companies to face a war for talent which is leaving many positions unfilled. A lack of skilled candidates (51 percent) tops the list of challenges, whilst difficulties in finding the right talent follows close behind (30 percent). Even when the right person has been found, many firms aren’t hiring fast enough and end up missing out on their preferred candidate (28 percent). UK organisations clearly recognise the detrimental effect that unfilled roles can have on their business. Reduced productivity (42 percent), increased stress (42 percent) and limited business growth (38 percent) are cited as the main consequences – all of which can cripple a firm’s performance.
March 15, 2018
What the Chancellor’s Spring Statement means for the employment landscape
by Oliver Shaw • Comment, Workplace
It may only have lasted 26 minutes, but chancellor Philip Hammond’s inaugural Spring Statement included a number of very encouraging points. Critics were quick to criticise Philip Hammond’s first Spring Statement. But that is perhaps simply the nature of politics. If an impartial party carefully dissects the 26-minute speech, there are undoubtedly many positives to take away. Yes, growth projections still lag slightly behind those highlighted in March 2016. However, it must be accepted that pre-Brexit forecasts are a different story altogether. On 24 June 2016, very few people would have predicted the growth story that was told in the House of Commons today – one of continued economic development with further growth on the horizon. This story is therefore an extremely encouraging one, and a welcome narrative amidst the doom and gloom that so often dominates the media headlines and political debates.
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