The latest from the JFR Team!
Salary V Budget!
The latest report from KPMG and REC, shows permanent starters’ salaries and temp wages have had the sharpest rise in 24 years of data collection. This comes at a time when candidate availability is continuing to fall.
However, whilst it’s important to attract new talent to your business, it’s important not to overlook those that are in the business. Especially after the Chancellors budget announcement, with rising national minimum wage and inflation. It’s never been more important to address the gap between your former £19-25k salaries and minimum wage. Pay close attention to the added cost of living when reviewing current salaries. We predict a surge of salary demands or departures for those still in positions. Expect conversations to start from +4%.
If you are feeling the pressure, and would like some advice on salary reviews or banding.
Email email@example.com to arrange a call.
In case you’ve missed it!
- Kellogg’s announce new policies to offer paid leave for pregnancy loss, fertility treatment and the menopause. Applause!
- UK government to force financial institutions and large firms to publish how they intend to transition to net zero from 2023.
- Barclays CEO steps down after investigation by FCA.
- The first ever North West LGBTQ+ Business Awards takes place. Huge success!
- Gender pay gap widens and 10% of employers fail to report
Flexibility is Key!
Our clients who have had the biggest success with recruiting since the candidate shortage have been those with flexibility. Unless you have big pockets and can offer higher salaries and appealing benefits packages. Then expect to be flexible to attract talent. Flexibility can come in the form of seeking soft skills rather than experience and offering training to fill the gap. However, it could also be key to offer a choice between home and office working. A large percentage now wanting flexibility to choose their work location. Finally, think about your management team. We are still seeing at least 45% of candidates fleeing their employers due to poor management. This could be due to mental health, or lack of management training.
Need more guidance, call us on 0151 601 5288 or email firstname.lastname@example.org to arrange a call.
#salaryspike #flexiblerecruitment #flexibleworking #trendingbusinessnews