Two separate surveys highlight employers’ plans to invest in their teams; regardless of their economic expectations…
Survey 1: employers set to invest in new employees
Our first survey actually comes from our accrediting body, the REC. Confidence in the UK economy appears ‘negative’ for its fourth consecutive month. In figure terms, this equates to a survey score of -14.
However, despite this, hiring and investment plans remain positive and have even increased by a percentage point over the past month. Taking this particular score to +16.
- 48% of businesses looking to hire permanent employees are worried that there will not be enough candidates available (+6%).
- Likewise, 53% of those hoping to grow their temporary headcount are concerned about sourcing enough skilled staff.
- The marketing, media and creative sectors are among the most affected by the skills shortage.
- Overall, the number of companies planning to recruit agency staff within a short-term time frame has increased by 3% since October (to a total score of +19).
Neil Carberry of the REC suggests Brits are displaying their ‘pragmatic best’ in spite of their wider economic concerns – and are set to ‘invest in their own businesses to meet demand’.
These attitudes clearly reflect those of other sources, as recently discussed.
Survey 2: employers will continue to invest in staff benefits
Source: The CIPD via People Management
Looking to the next two years, most businesses (97%) additionally intend to either maintain or increase their employee benefits schemes.
- 81% plan to spend the same amount.
- 16% intend to increase their spend in this area.
- Businesses predominantly wish to focus on professional development benefits (43%), including mentoring and secondments.
- This is followed by health and wellbeing incentives, such as sick pay (29%).
- 25% will mainly focus on financial schemes, including pensions and debt-related advice.
Once again, these figures are deemed promising when considering external economic factors.
Charles Cotton from the REC praises businesses for their efforts. He says ‘spending in these areas can help improve employee performance, and ultimately corporate performance.’
The two news items are extremely closely related, with benefits packages also providing valuable staff attraction tools.
Benefits also appeared in our last post, as we explored which Christmas gifts employees most hope to receive.