In 2019 the Office for National Statistics (ONS) showed the number of people in work in the UK had reached its highest level since 1971, hitting 32.7 million. Not just that, unemployment fell to 1.34 million, the lowest level since 1975.
Despite the rising levels of employment one report this year claimed cash is still king when it comes to attracting employees in the UK. According to B2B International’s Business & Marketing Survey 2019, which polled managers across Europe, apparently values and cultural fit are not viewed as particularly important during the recruitment process.
Salary and core compensation package were cited by respondents as the number one motivation for employees when considering an organisation. Just over a quarter (28 per cent) believed money mattered, followed by work environment and atmosphere (24 per cent) and location (24 per cent).
However, the UK Internal Staff Survey 2019 from Staffing Industry Analysts (SIA) found the top reason employees were happy in their job was down to a “good work environment/culture”. In this survey employees cited empowerment, team cohesiveness and support as some of the elements that contributed to a good work environment and strong sense of culture.
Interestingly, new research by Capita Employee Benefits found that the vast majority (94%) of business leaders admitted their organisation needed to better use benefits as a strategic tactic to improve employee retention.
Positive employment figures give hope within the recruitment space, however, contradictory research leaves HR managers and in-house recruiters more confused than ever before about what can and will work to attract, retain and engage talent.
At Tyson Wilson, we’re responding to that confusion by helping our clients not just recruit new employees but drill down where the skill gaps are and help to identify the tactics and strategies that can be implemented in order to maximise staff productivity and reduce turnover.