The United Kingdom’s Office of National Statistics (ONS) released their first quarter Labour Market Report today, and Cielo’s Executive Vice President and Managing Director - Europe, Seb O’Connell, had a few reactions to the new numbers. He was quoted on Recruiter.co.uk in an article entitled Highest employment rate in UK since records began in 1971, as well as on HR Review in an article entitled ONS Labour Market report: Comments from the community. Seb’s comments speak to the need to retain your best employees in a competition-filled market.
Excerpts from the Recruiter.co.uk article:
The UK’s employment rate has reached its highest point since comparable records began in 1971, according to official figures. The Office for National Statistics figures for the quarter January to March 2015, published today, reveal the proportion of people aged 16 to 64 in work was 73.5%, with the number of people in employment reaching 31.1m. Meanwhile, the number of people out of work in the quarter fell to 1.83m, down 35,000 from the previous quarter.
Commenting on the figures Seb O'Connell, executive vice-president and managing director for Europe at global talent acquisition and management specialist Cielo, said a more buoyant job market will mean employers will need to redouble their employee retention efforts. “Companies need to ensure they double their efforts to retain their people by providing a visible career path and a thought-through and authentic employee value proposition that appeals both to potential new employees and the critical existing employee base,” said O’Connell.
Excerpts from the HR Review article:
Seb O’Connell, executive vice-president and managing director for Europe at Cielo, the global talent acquisition and management specialist, believes companies need to make more of an effort to retain employees in light of the Labour Market figures. He comments:
“Today’s figures clearly paint a positive picture of the job market but with this boost comes a cautionary note to employers.
“In a more buoyant job market, employees are more likely to feel the pull of greener pastures and may be tempted to move elsewhere by new opportunities and offers of higher remuneration. Companies need to ensure they double their efforts to retain their people by providing a visible career path and a thought through and authentic employee value proposition that appeals both to potential new employees and the critical existing employee base.”
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