Changes in 2016
Will your business be affected by changes in the Employment Market in 2016?
The UK employment market is evolving bringing businesses opportunties and challenges. With 2016 fast approaching, now is a good time to analyse how upcoming trends and laws could affect your business. The impact could vary massively depending on your level of preperation.
We take a look at some trends we’ll see in the coming year:
More temporary staff Temporary working is becoming a crucial part of modern business as companies find value in quick short term solutions managing fluctuating seasonal demands. 98% of companies plan to hold or increase agency worker numbers in the medium term (next 4 12 months) according to the Recruitment Employers Confederation (REC) Jobs Outlook 2015.
A more varied workforce Flexible working is becoming more prominent in the workplace, with more people working from home, around family commitments, studies or other interests. With everyone living and working longer, it means there is a more diverse age group in regular employment too. The Department for Work and Pensions reported that the employment rate for 65+ has increased from 5% to 10% in the past 30 years. As an employer how should you respond and can you benefit from this trend?
Staff movement We are now further into a Candidate led market with more prospects and 20% of people in the UK saying they will switch jobs in the next year according to research done by the REC.
Smart Budgeting Coping with the increase in living wage to £7.20 in April, as well as pension contributions, for those who have yet to enrol their staff in a pension scheme will bring budget challenges for some.
Developing a more flexible workforce can be a sound business response to these changes in the employment market. However employing temporary staff brings regulatory and compliance requirements, so it may be worth seeking advice to review your practices and see if there are cost effective alternatives.
Please feel free to contact ASA if you think we can help with your flexible staffing strategy.
Sources:
The Candidate Strikes Back 2015: REC
October Jobs Outlook 2015
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/473821/employment-stats-workers-aged-50-and-over-1984-2015.pdf
http://www.thepensionsregulator.gov.uk
http://www.pensionsadvisoryservice.org.uk/about-pensions/pensions-basics/automatic-enrolment
