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:
- Do you know what you are looking for?
- Do you know where to look?
- Do you know how to find the right type of people for your business?
- Are you attractive enough to encourage applications from the right sort of people?
- Can you sort the wheat from the chaff?
- 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.
