Statistics

Vital Statistics …. for your business

18 Jun
by Donna Obstfeld, posted in Blog, jobs, Recruitment, salary, war for talent, Workplace   |  No Comments

Last week there were some interesting stats announced by the ONS (Office for National Statistics):

  • The number of people in work increased
  • The number of unemployed people decreased
  • The number of people aged from 16 to 64 years not working and not seeking or available to work (economically inactive) also decreased
  • The employment rate was 75.6%, higher than for a year earlier (74.8%) and the joint highest since comparable records began in 1971

So what?

Well, it means that it is getting even harder to recruit and retain good quality staff.

What else?

  • Latest estimates show that average weekly earnings in real terms (adjusted for price inflation) increased by 0.4% excluding bonuses, and by 0.1% including bonuses, compared with a year earlier.

Meaning?

The shortage of job seekers is pushing up salaries, albeit not by very much – yet!

So?

You need to ensure that you recruit and retain the right staff. Can you answer “yes” to these questions:

  1. Do you know what you are looking for?
  2. Do you know where to look?
  3. Do you know how to find the right type of people for your business?
  4. Are you attractive enough to encourage applications from the right sort of people?
  5. Can you sort the wheat from the chaff?
  6. Can you make a competitive and compelling offer?

Being able to answer “yes” to the above is essential if you are going to build and maintain a healthy, thriving business against a backdrop of increasing competition for a decreasing number of good quality, qualified, experienced individuals.

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