Eloise’s May 2024 News – Recruitment News, AI for HR, Why People Change Jobs, Attracting Top Talent
Hello and welcome to May
Spring is in full swing – well, it’s been wet leading up to now, but the local weather forecast is for much warmer weather coming in from Europe, and we’re all ready for it!
May brings with it a renewed sense of energy and optimism. As we leave April ‘showers’ behind, it’s a great time for businesses to take stock and plan for the forthcoming summer months to capitalise on that optimism.
Here are a few things to consider as we head into May:
- Review goals and progress – see where you are against the plan for the year and hold 121 review meetings to check in with your team.
- Invest in your team – if you’re able to, now is a great time to look at training and development opportunities. It will also help with your retention strategy. More on this in our revealing poll results later in this blog.
- Employee well-being reviews – the well-being of your team is crucial for any successful business. As the weather warms up, now is a great time to try and boost morale and wellness. Maybe team-building events, new well-being schemes or initiatives could be launched. A focus on well-being drives a positive culture.
- Seasonal planning – make sure you’re adequately prepared to handle the increased seasonal workload coming up, or an increase in annual leave-taking. Consider hiring temporary staff to fill any gaps and not leave you exposed – have a chat with my team if you’d like temp worker advice. [email protected]
- Celebrate milestones – Take a moment to acknowledge and celebrate your achievements, big or small. Did you land a new client? Achieve a sales target? Implement a successful marketing campaign? Recognising these milestones will boost morale and keep your team motivated, and again, give your retention strategy a boost.
- Network and connect – if you’re not doing this already, May is a great time to get industry events, conferences, or workshops booked, as there are lots of options kicking off this time of year. Networking with fellow SMEs opens doors to new opportunities, collaborations, and knowledge sharing. It’s also a chance to stay updated on industry trends and gain valuable insights from your peers. Details of our next HRHuddle event are later in this blog!
The recruitment market
In the latest KPMG and REC Report on Jobs for April, there is a real mixed bag.
The good news, if you’re recruiting, is that starting salary growth for permanent and temporary workers has slowed right down. And competition in the market is also slow with fewer jobs being advertised. So, it’s a good time to be recruiting to have your pick of the best candidates in the market.
But redundancies are on the rise, and businesses are being cautious about spending ahead of news from the Bank of England.
Jon Holt, Chief Executive and Senior Partner of KPMG in the UK, said in the report:
“There are still headwinds, but it’s time for the UK economy to get its groove back – and UK businesses will be ready when the Bank of England makes its interest rate cuts. This may not lead to an instant rebound, but confidence to invest will increase, improving demand, and the economic outlook should start moving in the right direction.”.
There are calls for economic growth to be at the heart of this year’s General Election campaigns by REC Chief Executive Neil Carberry.
Next HRHuddle – Demystifying AI
If you’re interested in learning more about AI for HR, be sure to join our next HR Huddle on Wednesday, 29th May at 2pm via Zoom.
We’re welcoming Eric Bye, from Erictron AI, to tell us what AI is all about, how it can be used by HR professionals, why you should care, and how to get started.
In this event, Eric will cover:
- How generative AI works
- How AI can improve efficiency, drive agility and boost productivity
- Implications of AI for HR professionals, from policy to learning and development
- How to use AI for better hiring decisions
- How to use AI to enhance employee engagement
- Plus, time for a live Q&A
Discover the potential impact of AI on HR practices and learn why it’s essential for HR professionals to understand this technology. Get practical tips on how to incorporate AI into your HR strategies and stay ahead of the curve.
Don’t miss out on this insightful session! Book your place here.
What makes people change jobs?
We recently ran a poll on LinkedIn to explore the key factors influencing people’s decisions to switch jobs. It generated a revealingly clear focus on financial stability and company culture, as the key motivators.
Salary came out top as the most significant motivator, with 36% of respondents indicating it as the primary driver for seeking new opportunities. This highlights the ongoing importance of competitive compensation packages in attracting and retaining top talent in today’s competitive employment market – and with the continued rise in the cost of living.
More surprisingly, company culture also played a substantial role, with 34% of participants citing it as a major factor in their decision to change jobs. This suggests that individuals are increasingly prioritising a positive work environment that aligns with their values and fosters a sense of belonging and worth.
Growth opportunities came in third with 27% of the vote, emphasising the desire for professional development and the chance to progress within a company. This finding underscores the importance of offering training and advancement opportunities to keep employees engaged and motivated.
Interestingly, only 3% of respondents listed “other” factors as the primary reason for their job change, although it’s important to acknowledge that individual circumstances and motivations can vary greatly and be situation dependent.
Overall, the poll results paint a clear picture of the priorities driving people to seek new job opportunities. And as a business, you have more control over this than maybe you previously thought. If you focus on financial stability, a positive work environment, and the potential for career growth, it shows that you’ll be nailing your retention strategy. If the financial side is out of grasp, there is still plenty you can work on without lots of financial investment.
Remember, we partner with New Skills Academy to offer discounted training and qualification opportunities with them. Read more here: https://www.vanillarecruitment.co.uk/training-courses-online-huge-discounts/
How to attract the top talent
A primary challenge when recruiting and trying to attract top talent is the shortage of qualified candidates in certain industries and skill sets. When the unemployment rate is comparatively low, as it is at the moment, and competition for skilled and experienced professionals is high, the struggle to attract people with the necessary skills and experience is a very real problem when recruiting.
We have developed a top tips guide to help shape the best ways you can attract top jobseekers and ultimately, to help you employ the very best candidates.
You can download your FREE Top 7 Tips to attracting the right candidate for your role, CLICK HERE.
And that’s it for another month.
The bank holidays in May usually make the month fly past but it can seem difficult for employers with fewer working days in the month and lots of people starting to take annual leave. But I always say these bank holidays are often really good for people. If it’s holidays, days out, time for DIY, or just rest, a couple of 4-day weeks can be restorative for people – which has a nice positive knock-on effect on your business morale and productivity.
I hope you have a great month.
Meeting room hire
We have opened up our recently refurbished boardroom for hire. It’s a great modern space in the heart of Market Harborough, full of light and colour.
For just £15 per hour, you can comfortably seat 8 people, with the use of a large TV screen, and with free tea and coffee.
This is a fantastic space ideal for meetings, collaborative working and planning sessions, and presentations. It also lends itself to interviews or as a great-looking backdrop to an important Teams meeting.
With free Wi-Fi and within walking distance of Market Harborough town centre, and car parks, it’s a great choice to elevate your next gathering.
To find out more or to enquire about booking, please call us on 01858 898 058, or email us: [email protected]
Our temps do an amazing job for a wide range of clients in the area. They are some of the most flexible and hardworking people and we want to recognise that every month.
So, if you have a Vanilla temporary worker on assignment, or who has just completed an assignment, who you think has gone above and beyond or exceeded expectations in any way. You can nominate them to receive our Temp of the Month Award.
We recruit throughout the East Midlands covering Leicestershire, Northamptonshire, Rutland and the surrounding areas, especially Market Harborough, Lutterworth, Leicester, Corby and Kettering. We help people find their perfect job and match suitable jobseekers with businesses looking to hire the best candidates across our four specialisms – Marketing, Accountancy & Finance, HR and Office
Gain a new skill and a verifiable qualification
Study in your own time and at your own pace to get a verifiable qualification with New Skills Academy. With over 880 courses to choose from you’re sure to find a course that interests you. All of the online courses can be studied from your PC, MacBook, tablet or smartphone device. Click here for more info.
Vanilla Recruitment Consultant – Accounting Staff Recruitment Agency