The UK’s unemployment rate has remained at 3.8% – its joint lowest level since early 1975, according to official figures. New figures, released by the Office for National Statistics, reveal UK unemployment fell by 16,000 to 1.29m in the three months to December and the number of people in work rose from 180,000 to 32.93m over the quarter.
Total vacancies rose to 810,000, the highest since the quarter to September 2019, with total earnings growth including rising by 2.9%.
The new figures suggest that we have a UK job market that is growing in confidence, that remains buoyant and is placing record numbers of people in work. Those organisations that took a more cautious approach during the recent years of political and economic uncertainty, are now putting into action ambitious recruiting plans.
A candidate’s market?
Whilst the employment figures tell a good story, 41% of business leaders remain concerned about their ability to attract and retain the best people. Talented candidates are often juggling multiple job offers at a time.
Employers really do need to think differently about how they attract the right people. The best organisations are reviewing remuneration packages, benefits and working environment in order to make sure they attract good candidates. Flexible working, regular high quality training, good working conditions and employee wellbeing benefits are actively being sought by candidate’s keen to bring a more balanced approach to their working lives.
They say there is nothing as constant as change and UK businesses are certainly operating in a new dynamic environment where there is not much certainty around. A more flexible approach around the working environment and employment conditions is fast becoming a vital strategy for UK business.
Speak to the team at First Base if you would like to know more how we can support your recruitment plans and help you attract the right people. Contact Tricia Hay on 01453 755330 or firstname.lastname@example.org