Beyond 65: why will most people work at this age?

Do you expect to work beyond 65? Why this will be the case for most UK employees…

We now hear that 71% of people are on track to work after the age of 65. Furthermore, 2/5 of employees expect to still be working after they’ve turned 75.

This is according to research conducted by Canada Life Group, which also demonstrates a ‘long-term upwards trend’. In other words, the longer the research goes on, the more people predict they’ll be working in later life.

Why do so many employees think they’ll work beyond 65?

Some, but not all, of the top reasons comprise a clear financial component:

  1. An insufficient pension, requiring the employee to continue to earn an income (32%).
  2. Job enjoyment and an interest in ‘working for as long as possible’ (30%).
  3. No longer feeling able to ‘rely on a state pension/benefits’ (25%);
  4. Having saved for retirement but finding the ‘cost of living so high’ that additional income is required (21%);
  5. For other workplace benefits, such as social interaction (21%).

Considering the external financial factors:

Considering why finances bear such an impact…

  • 71% of respondents attribute this to the ‘rising cost of everyday necessities’
  • 63% say ‘rising inflation’ has chipped away at their savings
  • 62% blame a ‘poor return’ on savings
  • 58% put it down to ‘slow wage growth’
  • While 51% consider Brexit-related ‘economic uncertainty’ to be the cause.

The article includes recommendations for employers. Yet how can individuals benefit from this research?

Looking at reasons 2 and 5…

Let’s focus on the non-financial findings for now. It’s wonderful to hear that almost 1/3 of employees enjoy their job so much that they don’t want to retire. We recently shared the news that older employees report greater workplace wellbeing, so it wouldn’t be surprising if these feelings also increase with age.

What’s more, the social interaction element is also at the core of these findings. Workplace wellness is most affected by relationships with colleagues at every age.

So, perhaps the trick is learning how to get more out of your career over the longer-term. We say ‘career’ as we all know it’s rare to find one role that will take you straight through to retirement.

  1. Everything is pointing to the need to keep improving our transferrable job skills as the world of work rapidly transforms around us. Employers are already experiencing a skills shortage (struggling to find appropriately skilled employees for their existing vacancies), so the more you can do to refresh and update your abilities, the more valuable an employee you’ll be. Both now and in the future.
  2. Find ways to improve your workplace happiness – whether in your current or next role. Returning to the research on workplace wellness, it’s important that you understand your priorities. What makes you feel happiest and healthiest at work might differ from your colleagues and might change over time. It’s not always possible to tick every box, but taking steps towards this could increase your overall career enjoyment.
  3. Tap into local and industry experts. Going it alone in a job search can prove overwhelming; particularly if you know little about the employers recruiting in your field or area. A professional Recruitment Consultant is well-placed to advise on the roles that they’re recruiting for. Building a great long-term relationship with an agency also means that you can return for tailored advice at the next stage of your career.

Ready to find your next role? Take a look at our latest openings and/or upload your CV today



The cost of a poor recruitment decision

How each poor recruitment decision mounts up to a vast national cost…

We recently discussed the issues of recruitment and CV fraud  – and detailed some of their financial and non-financial implications.

Well, new data has emerged to illustrate the price paid by the companies mistakenly recruiting fraudulent applicants. Crowe UK reveals that businesses are spending a total of £23.9 billion a year due to recruitment fraud.

As a reminder, this may be due to the use of fake qualifications or falsified documents, such as embellished CVs and applications. Candidates have also secured worryingly high-level roles (including those within medicine and aviation) as a result.

Where is the money going?

These costs comprise a variety of factors, including:

  • Initial recruitment procedures
  • Low productivity
  • ‘Internal investigations’ and disciplinary action
  • External penalties
  • And matters relating to the employer’s reputation
  • Internal costs such as fraud, theft or data breaches, may also apply.

Of course, perfectly reputable candidates may also prove costly if they’re not the right person for the job.

Looking at poor recruitment decisions in general:

The cost of the average unsuitable recruit is as follows (via the REC)

  • Wasted salary: £28,000
  • Wasted training: £1,500
  • Recruiting & training the new employee: £9,730
  • Reduced productivity from the wider team: £29,160
  • And total staff turnover: £54,000

TOTAL: £132,015 per each unsuitable recruit

How can you make better recruitment decisions?

Consider the many ways that you can improve your recruitment processes, including yet not limited to…

  • Clearly identifying your recruitment needs ahead of your candidate search. Consulting your colleagues and/or employees where needed.
  • Dedicating sufficient time to employee attraction and screening.
  • Making certain that your job descriptions truly depict the roles you’re recruiting for – while clearly communicating your expectations and the realities of working for your organisation.
  • Considering any necessary skills assessments.
  • Making use of trial periods and or temp-to-perm contracts where appropriate.
  • Ensuring the utmost efficiency so that you don’t lose any top candidates along the way.

Your recruitment consultant can support you with each of these decisions. Therefore, working closely alongside an expert recruitment agency may help ease much of your time and cost burden.

For further advice about recruitment in Bath and the surrounding area, please call the office on 01225 313130. You can also find out more about our service here.



A positive recruitment agency relationship

How your recruitment agency relationship affects your job search. Plus the latest news regarding the UK jobs boom…

Your recruitment agency relationship:

HR News has just released some great data surrounding the benefits of working with recruitment agencies. They report that:

  • The majority (64%) of candidates surveyed worked with a recruitment agency to ‘find at least one job’ last year.
  • 88% of people most value the communication received from their agency. This includes support, reassurance and guidance throughout the recruitment process.
  • Around 1/4 of respondents additionally appreciate the prospect of a long-term recruitment agency relationship. They understand how the insights garnered by their consultants can help to support their later career progress.
  • A similar number of people look for specialist recruitment agencies who will understand the intricacies of their industry – and, consequently, provide valuable insights for candidates.
  • Poor agency communications understandably cause job-seekers to utilise alternative routes.
  • However, more than 2/5 of candidates stated that they found their job search ‘easy’.

The UK jobs boom continues…

Over on Recruiting Times, we hear that the UK jobs boom remains in ‘full force’ and that the women’s unemployment rate has reached a record low.

The article, which cites stats from The Office for National Statistics (ONS), reveals:

  • National employment has now reached 32.6 million people.
  • Unemployment fell to 1.36 million – 100,000 fewer people than last year.
  • The women’s unemployment level has dropped below 4% for the first time.
  • Yet, job vacancy numbers have risen by 16,000 to a total of 870,000 jobs. Which is also a record figure – and a sign of the ongoing skills shortage.

It’s interesting to note that zero-hour contracts can also contribute to high employment rates and growth figures. In other words, there may still be many people who are recorded as employed yet not receiving regular work assignments (or, for that matter, a regular income!).

We’d always recommend finding a recruitment agency who specialises in the types of vacancies that you’re searching for. The Recruitment & Employment Confederation offers a handy guide to help you to choose an agency. This includes a member directory, which we’re proud to be a part of.

Working with Appoint:

Did you know we specialise in commercial office jobs in Bath and the surrounding Somerset and Wiltshire areas? We recruit for an array of openings, including (yet not limited to!):

  • Administration
  • Customer services
  • Finance & financial services
  • Sales & marketing
  • Project management
  • IT & technical

This includes everything from temporary assignments to contract bookings and permanent roles.

We opened in 1999, so have garnered a wealth of industry expertise. We’re privileged to be able to share our insights with our candidates and clients throughout the region.

You can learn more about us on our Candidates page. You can also take a look at our jobs page to see and apply for our latest vacancies. We look forward to hearing from you.



Using the 80-20 principle in your job search!

How to apply the 80-20 principle to your job search…

Happy New Year to you all! Perhaps you’re simply catching up on some careers and recruitment news after the festive break, or maybe January has inspired you to launch a fresh new job search. Whatever brings you here today, this post endeavours to save you some time…

We’ll explore a rule of thumb that you can apply to all aspects of your work. Including your efforts to secure that new role.

Introducing the 80-20 principle…

This popular business concept is more formally known as the ‘Pareto Principle’. Which just so happens to be named after its founder, Vilfredo Pareto – a notable economist and philosopher.

Forbes provides an excellent explanation of the 80-20 principle. However, let’s get straight to the core finding: 80% of the results you generate at work (and in your job search) will come from just 20% of your total efforts.

Let’s imagine you spend 100 hours (just over 4 days) searching, applying and interviewing for new roles. The average person would undertake 80 hours (3.33 full days) of action without achieving many results. It would be the 20 hours of work (less than one full day’s efforts) that would provide 80% of the pay-off.

How accurate is this?

This is a rule of thumb. So, it may be that just 15% of your hard work gleans the most results or it may be that it takes a spot more effort on some occasions. However, it does appear to broadly apply across life and business.

As for the 100 hours to find a job part, this is just an example. It’s incredibly challenging to predict how long it takes to find a job due to the number of variables – for some people it takes only a matter of hours or days, for others it’s a far longer process.

The Pareto Principle also appears to apply to the choices we regularly make. We tend to pick the same 20% of options 80% of the time. So that’s the same few lunch options on regular rotation, the same tasks we’ll select from our daily/weekly lists, and the few outfits we’ll most often pick from our wardrobes.

So how does this knowledge benefit your job search?

The trick is in the application of the 80-20 principle. Rather than throwing all of your waking hours at your job search, invest your time where it will truly count. For instance…

  • Identifying your core search requirements before you get started vs. applying for every interesting vacancy you spot and then later realising they’re not right for you anyway.
  • Ensuring you’re contacting recruitment agencies who definitely recruit for your target roles/industry.
  • Generally doing your research at every stage – from thoroughly reading job specs (vital for CV writing) to interview preps.
  • Making sure your CV clearly demonstrates your suitability for each job; even when skimming.

You won’t always know which job vacancies will generate interview offers. After all, you’ll rarely know who you’re up against or exactly what the employer is searching for. But you can still save yourself a lot of wasted time.

Eager to get started? You’ll find our jobs vacancies listed here.