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Employee turnover tends to have ugly connotations to it, mainly because replacing lost talent is costly in terms of employee compensation and business profitability.
On the one hand, excessive turnover can cost an organisation about 33% of its employees’ compensation package, which includes wages and benefits. On the other hand, companies with high turnover rates can be outdone by offices with low employee turnover up to four times profits-wise.
On top of these losses, companies… Read more
Today’s labour market statistics published by the Office for National Statistics (ONS), based on data from November 2017 – January 2018, show that the number of people in employment is rising, while vacancies remain high. However, real wage growth is still falling, despite wages creeping up. Recruitment & Employment Confederation
(REC) director of policy Tom Hadley comments:
“The number of people in employment continues to rise, showing business is performing well. However, the number… Read more
Nearly half of employees in Mainland China plan to change employers within the year and 43% are currently open to an offer, according to research from Hays China.
The research also showed that 19% of workers in China plan to change employers within six months with 28% already on the hunt for a new job.
Simon Lance, Managing Director of Hays Greater China, commented, ““A total of 65% of candidates told us that ‘salary or… Read more
While latest official figures point to yet a further increase in the number of people in work, evidence suggests employers are really struggling to fill roles.
Data from the Office for National Statistics revealed an increase of 168,000 in the number of people in work to 32.2m, while wages grew by 2.6% but unemployment rose by 24,000 to 1.45m in the three months to January.
The number of temporary employees in the UK fell by 3.1% on a seasonally adjusted basis to a total of 1.55 million in the three-month period from November through to January 2018 when compared to the same period a year ago, according to the Office for National Statistics.
Temporary workers are self-identified when surveyed by the ONS, and they include those who are on fixed-period contracts, agency temp workers, casual workers, seasonal workers and… Read more
Ian Ward, the Sales Director of People First, last night attended the Chinese Investor Spring Reception organised by London and Partners at City Hall.
The event was attended by senior representatives from Chinese businesses and investors as well as the Mayor of London, Sadiq Khan and Liu Xiaoming, the Chinese Ambassador to the UK.
Both Mayor Khan and Ambassador Liu gave speeches celebrating and encouraging further the strong relationship between the UK and China.
A new survey reveals that the vast majority of investors believe London has the best talent pool for financial services in Europe. Of the 101 global institutions surveyed by the City of London Corporation, 90 said London tops the talent stakes. Meanwhile, a survey of more than 2.5k corporate decision makers across Europe showed London coming out well ahead of rivals, such as Paris and Frankfurt, on the issue of talent and being the… Read more
Average advertised salaries in the UK for January reached its highest level since April 2016, according to data from Adzuna.https://www.adzuna.co.uk/
Data from Adzuna showed a 2.9% increase in January 2018 when compared to last year. The average advertised salary in January stood at £33,369. The last time it was higher was in April 2016 (£33,462).
By region, average advertised salaries have increased annually in every area across the UK, the first time… Read more
ECNS reports that foreign recruitment firms can now own up to 70% of a joint venture registered in Beijing, up from the previous figure of 49%, according to the city’s Human Resources and Social Security Bureau. The Bureau also announced that a requirement has been removed that foreign investors have at least three years of experience in the recruitment industry overseas before entering the Beijing market. Simon Lance, managing director for China at Hays Specialist… Read more
Uncertainty is impacting staffing decisions in the UK as 35% of employers think that economic conditions in the country are getting worse, while 21% say they are improving, according to the latest JobsOutlook survey from the Recruitment & Employment Confederation (REC).
The JobsOutlook survey, which polled 600 employers, showed that the net balance of confidence in hiring and investment decisions has fallen to eight, which is the lowest since the referendum.
Meanwhile, uncertainty about… Read more