Does Your Company Have a Solution for the Impending Labour Market Shortage?
Posted on Thursday, November 29, 2018 by The Workplace Advisor — No comments
As the UK barrels towards 2019 and Brexit, many businesses are feeling the squeeze of the labour shortage, especially in London. Smart companies are starting to prepare for the coming labour shortage and leaner times. At our leading London recruitment agency, we keep a close eye on the labour market, and we can help you stay above water when it comes to hiring staff. Do you have a strategy in place?
Why the fear?
While media reports can sometimes sound like scare-mongering, in this case the downturn in labour force is not imaginary. The labour force growth rate is projected to slow from 9% to 2.4% by 2025. Brexit is putting a strain on access to migrant workers and international talent. And the growing health and social care industry will demand over 90% of those entering the labour force to support the aging population. Of everywhere in the UK, London is predicted to be the most heavily affected.
What does this mean for businesses?
As the UK and London in particular is set for a labour shortage over the next decade, companies that ignore this fact are leaving themselves open to a great deal of risk. Challenges include replacing an aging workforce, realigning the tasks of exiting baby boomers, and evaluating CVs to interviews to find the right candidates to take your business into the future. Businesses who don’t start preparing for this labour market change now are likely to be struggling to stay afloat in a few years’ time.
What can you do?
To avoid ongoing vacancies and struggles to replace exiting staff, many companies are turning to recruitment agencies as their best chance to stay ahead. Recruitment agencies are experts when it comes to finding the best talent for your company. By building a relationship with a recruitment agency, you can have a fresh, talented, and vetted pipeline of new recruits fed directly into your system, all for a nominal cost (and less headaches) compared to running your own hiring process.
Does it cost?
With many businesses looking to save money, recruitment services can seem like an expensive commodity. However, what you might not realise is that many recruitment agencies work on a commission basis. Unless you hire an agency candidate, you don’t pay anything, so the risk/reward is in your favour. And in the long term, not being able to replace staff is often more costly to the business.
How can we help?
As the leader in PA and office support recruitment in London, we can help you fill both temporary and permanent vacancies across various office support roles, including receptionist jobs, EA and PA jobs, and office manager roles, among many other areas such as marketing, HR, and specialist roles. With a vast database of professional candidates, we match the best people to the job and can help you quickly replace staff, sometimes in just a matter of days with our emergency temps service. That is a luxury worth its weight in gold.
So, take the time now to form a strategy and build a relationship with a recruitment agency and you should be buoyant before the labour market shortage hits.
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