Tag: REED

Over half of employees feel undervalued

Research released by Firstup, a digital employee experience company, revealed that employees are unhappier in the workplace now more than ever post-pandemic. The survey showed a mounting dissatisfaction among employees across the UK, US, Germany, Benelux and the Nordics, with talent feeling undervalued, uninformed, and un-unified.

Lack of communication from leadership was cited as a main contributing factor to unhappy employees with almost a quarter of respondents to the survey agreeing that better communication will lead to increased productivity and work satisfaction.

Nicole Alvino, founder and CSO of Firstup, said: “Businesses need to provide more valuable working experiences or remain responsible for the career reboot of the decade that some are calling The Great Resignation of 2021. This research is a clear and urgent call to action – an organisation’s employees are its most valuable asset with employee satisfaction having a direct impact on the bottom line. Business, HR and Internal Comms leaders must act now to stem this workforce dissatisfaction and engage their teams with personalised information that helps them do their best work.”

Research from the 23,105 workers found that 56% don’t feel valued in their role and 38% want employers to ‘create better lines of communication between executives and employees’.

It appears that remote workers seem to feel these complaints most keenly, with a growing tension between desk based and deskless workers. It found that 25% of respondents felt they get more attention from their employer when they are physically at the office, only 30% of deskless workers think that their employers listen to them, and 39% of desk-based workers felt that their deskless colleagues could learn from them about ‘how to communicate with colleagues and ‘how to work as a team’.

The great temptation

This comes off the back of research from Reed.co.uk which found that almost three-quarters of Britains are actively looking for a new job or are open to opportunities. The survey, which canvassed 2,000 employers attempting to attract new talent and retain restless employees, suggests that businesses will need to adapt their offering to align with new employee priorities that have been shaped by the pandemic.

Salaries remain a top driver with 39% of respondents stating that they would stay should their employer offer a high salary. Flexible working hours is also at the top of the list. Other suggested incentives from the survey included: more annual leave (25%), a promotion (21%), and 18% asked for increased training and development opportunities.

Commenting on the research, Simon Wingate, Managing Director of Reed.co.uk, said: “We are in the midst of a sea change in the labour market, with it very much having shifted from a buyers’ to a sellers’ market due to the sheer – and record-breaking – number of job opportunities available.

“After a challenging 18 months for jobseekers which gave rise to a culture of uncertainty in the labour market, workers are now mobilised by the prospect of new and exciting opportunities with better rewards. Employers must find creative solutions and adapt to the new market conditions following the pandemic in order to maintain the resurgent economy’s trajectory.”

Following LinkedIn’s recent research highlighting 6.8 times the number of recruitment roles posted on its site in June compared to the same time last year, is the Great Resignation spreading to the staffing sector?

“There is a lot of potential for ‘revenge resignation’ for all those who were put on furlough through successive lockdowns, in the wider economy but particularly in recruitment, but it’s less likely to impact employers who offer flexibility and authenticity with a client-centric culture,” said Tim Cook, Group CEO of nGage, who will be speaking on this topic at the World Leaders in Recruitment conference on 5th October.

Commenting on the growing debate about the Great Resignation, TALiNT Partners Managing Director, Ken Brotherston said: “In general it is always wise to treat dramatic headlines or simple phrases with a large pinch of salt. My general rule of thumb is this: does the person promoting the headline have an interest in it being true? If so, approach with caution.”

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REED chairman urges 3 million furloughed employees to leave zombie firms

The latest ONS Labour Market estimates from February to April 2021 continue to show signs of recovery, with a quarterly increase in the employment rate of 0.2% to 75.2% and a quarterly decrease in the unemployment rate of 0.3% to 4.7%.

The number of payrolled employees has increased for the sixth consecutive month, up by 197,000 in May 2021 to 28.5 million – although this is 553,000 below pre-pandemic levels. The number of job vacancies in March to May 2021 was 758,000, only 27,000 below January to March 2020.

While annual growth in average employee pay has continued to increase, the ONS attributes this to a fall in the number and proportion of lower-paid employee jobs. Growth in average total pay (including bonuses) and regular pay (excluding bonuses) among employees was 5.6% for the three months February to April 2021.

Govt support still needed

Commenting on these latest figures, Neil Carberry, Chief Executive of the Recruitment & Employment Confederation, said: “This latest official data confirms the trends that surveys of businesses and recruiters have been telling us. The jobs market enjoyed a strong bounceback during the initial phases of unlocking.

“But with labour shortages across the economy, any delays in hiring could have serious consequences for the recovery. Now that there is a delay to the final stage of unlocking, employers need digital Right to Work checks to remain in place to help them place staff quickly and in line with public health guidance. Government must also extend the targeted support measures that have been in place alongside the restrictions.”

Tania Bowers, Legal Counsel and Head of Public Policy at the Association of Professional Staffing Companies (APSCo), said: “While the ONS data shows that we’re not yet back to pre-pandemic levels, the consistent increases are in line with our own data which showed that permanent vacancies in May were up 116% compared with the same time last year (up from 90% in April).

“However, when we look at who has been most effected by the decline in jobs during the pandemic, the fact that under 25-year-olds have been hit particularly hard is of concern for future skills development. Our members are already noticing a dearth of resources in highly skilled sectors particularly across STEM related roles. With employers already beginning to feel the impact of post-Brexit skill losses, committing to the training and development of talent both young and old will be crucial in helping the UK build back better.”

Jobs boom

Offering a perspective from the UK’s largest recruitment firm, James Reed, Chairman of REED, said: “The latest ONS employment figures do not begin to describe the ‘jobs boom’ that is now underway in the UK. This dramatic change has happened very quickly and will not be apparent from historic data. The talk now will be all about labour shortages, skills shortages and wage increases.

“The key questions are, how fast will the economy grow? And to what extent will progress be limited by labour market constraints? “Last month was reed.co.uk’s best month for job postings since February 2008 – before the last financial crash. Over 275,000 jobs went onto reed.co.uk in May, a 26% month-on-month increase and a 237% year-on-year increase.

“However, the recovery could be curtailed if staff shortages are not addressed urgently. The huge number of workers still on furlough – up to three million by the end of April – is at odds with a labour market which is now growing rapidly and facing a candidate deficit in certain sectors. As a result, we could see wage inflation, making it an ideal time for furloughed workers to depart zombie jobs and seek new opportunities elsewhere.”

Photo courtesy of Canva.com

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