The British Chambers of Commerce has said employers and the Government need to work together to bring older people back into the workforce. According to ONS data,  around 500,000 older people have left the workforce in recent years, many of them prompted to do so by the pandemic. The number of over-50s who aren’t working or currently looking for work rose by 493,000 between October 2019 and December 2021. According to the Office for National Statistics, one in five did so due to stress or other mental health concerns. (more…)

New CIPD research claims that almost half (45 percent) of UK employers report having vacancies that are hard-to-fill, and almost two thirds (65 percent) anticipate problems filling vacancies in the next six months. The most common response made in the past six months by employers with hard-to-fill vacancies has been to increase pay (44 percent). However, only a quarter (27 percent) of organisations plan to raise wages in response to the competition for talent in the future. This suggests that organisations may be approaching their limit on this ‘quick win’ strategy and are exploring alternative options, such as upskilling people and flexible working, to attract and retain people. (more…)

Employers anticipate offering record pay rises of 3 percent in 2022 as they look to combat increasing recruitment and retention difficulties. This is the headline finding from the CIPD’s latest quarterly Labour Market Outlook, which highlights the scale of the growing challenge facing organisations in finding and keeping staff, and how they are responding. This quarter’s pay award figure is the highest since the survey was conducted using its current methods in the winter 2012/13 report. The Labour Market Outlook surveyed more than 1,000 employers in January 2022 about their hiring, pay and redundancy intentions for the first quarter of the year. (more…)