So you’ve spent all year, preparing your crop, tending to it everyday, despite financial struggles and frustrations you kept going and then out of the blue, without warning, your crop is picked and you are not paid for your crop! Is talent ripe for picking in your company?
With the Employment rate on the up and average weekly earnings seeing an increase of on average 1.7%, can we take it that the economy is on the mend? Or is this 0.2 increase from July-September false security, given the recent push from Government to get more people in jobs through back to work schemes (lets get unemployment figures down!) and the apprenticeship programme (lets help the young get a foot in the door or the Pension issue will worsen!)? Is this is a short term gain? Let’s face it, NOT ALL back to work individuals have the desire nor the capacity to stay in work, not forsaking the support!
The Office of National Statistics said there were 22,000 more vacancies from November 2014 to January 2015, than the previous period August to October. Does this mean there are actually more jobs? Or is it that these new jobs are just temporary positions whilst Companies struggle to find their feet again and actually it was merely just a seasonal increase due to the Christmas and New Year period? Or perhaps vacancies left by people that have moved on, even moved out of the Country? Lets see if the pattern continues into the next period.
All these stats are all well and good but actually they don’t show what is going on behind the scene in Companies. Within our own Client portfolio, it is fair to say that in the Construction Industry, we have seen a 10% increase in the number of positions coming onto the existing company structures, and we are now starting to see pay increases of anywhere from 0.5% to 6%. It’s also fair to say though that as new employees start, we see others leave and we would urge any business to ensure they have the right retention strategy in place NOW! Is your talent ripe for picking? Tomorrow maybe too late. Right now your employees are ‘ripe for picking’ by your competitors or other businesses that can utilize their skills…. Getting back on its feet, a company will do its utmost to ensure it has the best skills, and that might mean taking your staff! Remember money isn’t everything for many, but it will help in the long run. There’s lots of things you can do though so don’t lose hope! Get in touch with Mercury HR, your Hampshire HR consultants. Is your talent ripe for picking?