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Comment from Futurestep - Unemployment figures in the UK reach ten year low

In light of the latest figures showing that unemployment in the UK has reached a ten year low, please see below comments from Richard Shea, Managing Director EMEA Search at Futurestep on what organisations can to do in light of a strengthening jobs market in order to attract and retain top talent.

“These latest figures revealing that unemployment has hit a ten year low is positive news for the UK economy, highlighting how employment is on the rise. In order to keep abreast of this wave,  organisations must ensure they are streamlining their recruitment and talent management strategies to support their long-term business development goals.”

“Preparing to fill the roles required in the future is vital. Best in class talent acquisition teams will be prepared with refreshed job profiles that look, not only at the skills and experiences but, at the competencies, traits and drivers that will find talent that is a fit for the current job but also for the business. Having the right recruitment tools and technology in place will also make the process fast and efficient when the time comes to hire. For example, to accommodate a marketplace that is constantly switched-on, organisations should be utilising the power and capability of mobile devices to recruit candidates. Additionally, even if businesses are not ready to hire right now, they need to ensure they have a pipeline of potential employees that they can engage and tap into, to find the right candidate for the job when needed. Talent communities play a significant role here.”

“Strategies for attracting candidates must be fully developed too. A recent study, the Innovation Imperative, showed that  demonstrating innovative practices can have a huge influence when recruiting new staff. To set themselves apart in what is becoming a more competitive jobs market, companies need to look at initiatives beyond financial incentives in order to attract the best. From flexible working schemes for a better work-life balance and increased holiday allowance to robust career development programmes and creative working environments, employers need to communicate the benefits associated with their brand.”

“Good talent will contribute to short, medium and long term business success. To make the most of the UK’s jobs-led recovery, organisations need to understand what employees want and then engage with their needs.”