We are delighted to welcome Russell Beck, from ImagineThinkDo, a leading expert in talent strategy and future workforce trends, as our guest speaker at our Employment Law Annual Conference being held in Newmarket on Thursday 3rd October. In this article, Russell gives us an insight into his presentation.
However you look at the current UK employment landscape, it is and remains a seller’s market. Even with recent reductions, there are more live, open job vacancies in the UK than at any point before the pandemic struck. At the same time, the number of payrolled employees has grown by over 1.3 million – exceeding the pre-pandemic peak by 5%.
Like the majority of the developed world, the UK is at full employment.
Consider what this means in basic terms… From an individual’s perspective, anyone with the ‘right’ skill and the ‘right’ attitude is in demand and, by being in demand they absolutely have a choice in who they work for. For businesses though, the problem is far more acute:
- Anyone you want to hire is likely to already be employed (meaning your hiring is creating a retention problem for someone else – of course, the reverse of this is also true!)
- Skill shortages are such that other businesses are very likely trying to hire the exact same talent you are (creating intense competition) and
- Given a choice, despite an individual being capable, how appealing is your offer (very simply, why would they choose to work for you?)
This is the new reality, and all the data shows that talent scarcity is and will remain the new normal. By 2030 it is estimated that over 10% of skilled jobs will remain permanently unfilled. If your business is in any way reliant on people to get things done, this is an existential threat. To paraphrase The World Economic Forum “Business MUST put talent development front and centre if they want to survive.”
Russell’s talk will focus on practical steps you can take to help your business become a talent magnet. He will share his company’s ‘6xC’ model, a model that clients use to help focus and develop their people strategy. Get this right and your business can become a talent magnet where people want to work and do their best work each and every day. Fail to focus on your end-to-end talent strategy and you may well face the prospect of suffering the death of 1,000 resignations as your people migrate elsewhere.
To find about more about the event or to book your free place, please visit our website: Employment Law Annual Conference – The New Employment Landscape: Strategies for Success – Greene & Greene (greene-greene.com)
We look forward to seeing you there!