Retain to avoid the pain
By Jonathan Nicholls Talent Resourcing Executive
Let’s be honest. There is not a single Company, Director or HR Manager who gets excited over the thought of having to ‘do’ recruitment. This is not going to change, recruitment is always going to be a necessary evil. But what can you do to reduce the risk of having to recruit?
Before I address this, we need to have a chat about the UK employment market. The latest Office for National Statistics report (19th February 2019) has unemployment pegged at the lowest levels since December 1974 – February 1975. Or, to put it another way, 32.6 million people in work versus 1.36 million not working. This is fantastic, as it means that the UK has one of the most engaged workforces in the world; according to the International Labour Organisation in their “World Employment and Social Outlook: Trends 2018” report, globally the average unemployment level was 5.6% in 2017; the UK is at 4%. Within the EU-bloc the UK has the 8th lowest unemployment. At either end of the spectrum there is the Czech Republic with 2.1% and Greece with a whopping 18.6%, according to Statista - The Statistics Portal.
So why am I sharing these stats and what do they mean for you? Well, it means that when you need to recruit you have a very small pool of people actively looking for work. If you take out those who ‘can work; won’t work’ (maybe about half of the job seekers) you have roughly enough people to fill c75% of the 870,000 jobs that went unfilled in the last quarter of 2018 (ONS report 19th February 2019). Break it down further, those remaining job seekers are spread around the UK. They are across all sectors; including an inflated retail sector.
Any jobs that are slightly niche, need a qualification, need a certain skill-set – unfortunately you are going to come up against problems.
Of course, these figures are all about the people without a job. There are people who could fill your job out there, absolutely. But they are in a job, they are not looking, they need to be enticed. Have you got the time to sit there and try and attract them?
Attracting new people to your company should be secondary to making sure that your current employees stay, however once you do the latter the former will take care of itself. Engage your work-force. Be flexible when you can; make them look forward to coming to work; give them a good benefits package. Pay them properly. If you don’t, someone else will, and you will have to try and attract talent within one of the hardest environments of recent years. Candidates are King and Queen in this market, and more and more of them are realising!
Strategi Solutions are not a recruitment agency. We are so much more. If you think that your employee retention offering could need some TLC, or if you could benefit from our significant experience to help you avoid losing staff and needing to recruit; get in touch. But if you do need to recruit; we can do that too!