Onrec – UK unemployment rate at lowest since 2005

June, 2016


Comment from Futurestep’s Managing Director, EMEA Richard Shea: UK unemployment rate at lowest since 2005 | Onrec

“The latest figures from the ONS have revealed UK that the unemployment is at its lowest for over a decade, with the employment rate remaining at a record high of 74.2%. In order to keep abreast of this wave, organisations must ensure they are streamlining their recruitment and talent management strategies to support their long-term business development goals.

“Preparing to fill the roles required in the future is vital. Best in class talent acquisition teams will be prepared with refreshed job profiles that look, not only at the skills and experiences but, at the competencies, traits and drivers that will find talent that is a fit for the current job but also for the business. Having the right recruitment tools and technology in place will also make the process fast and efficient when the time comes to hire. For example, to accommodate a marketplace that is constantly switched-on, organisations should be utilising the power and capability of mobile devices to recruit candidates. Additionally, even if businesses are not ready to hire right now, they need to ensure they have a pipeline of potential employees that they can engage and tap into, to find the right candidate for the job when needed. Talent communities play a significant role here.

“Strategies for attracting candidates must be fully developed too. A recent study, the Innovation Imperative, showed that  demonstrating innovative practices can have a huge influence when recruiting new staff. With the ONS reporting that average weekly earnings, excluding bonuses, have risen by 2% , compared with a year earlier, companies need to look at initiatives beyond financial incentives in order to attract the best. From flexible working schemes for a better work-life balance and increased holiday allowance to robust career development programmes and creative working environments, employers need to communicate the benefits associated with their brand. 

“Good talent will contribute to short, medium and long term business success. To make the most of the UK’s jobs-led recovery, organisations need to understand what employees want and then engage with their needs.”

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