As we approach 2024, the recruitment and retention of staff continue to be a top priority for businesses, as companies navigate the challenges of the current climate and candidate demands. Economic pressures and the ongoing cost-of-living crisis continue to impact both businesses and their employees.
Reflecting on our 2022/23 SME Business Survey earlier this year, we discovered that 36% of businesses perceived recruiting staff as a major challenge. This year, the results of our 2023/24 survey are likely to explore innovative solutions to ease the challenges presented by recruitment, including the exploration of apprenticeships, skills-based recruitment, and AI solutions.
To attract the best talent, companies should review their policies and employee benefits to ensure competitiveness in the market. According to our CEO, Greg Guilford, “Company culture is vital. Aligning your business values with your employees will help you to retain and attract top talent.”
Creating a culture that inspires employees to stay and entices potential candidates involves showcasing your team, providing insights into day-to-day operations, and recognizing and rewarding top performers.
You need to create a culture within your business that makes employees want to stay, and encourages potential candidates to join, as well as showcase your team, give the world an insight into your day-to-day operations and recognise and reward your top performers.
It’s important to take a deeper look at why employing people is proving difficult. The UK is still in a candidate driven market, meaning that candidates are demanding higher pay, making it increasingly difficult for businesses to bring the right people on board.
Candidate demands coupled with an ongoing talent shortage mean recruitment is arguably more competitive than before.”
Our 2023/24 SME Business Survey is currently open, and we are urging small and medium-sized enterprises to share insights into the obstacles they anticipate facing over the next 12 months, not just limited to recruitment but for all business challenges.
This year, we’ve partnered with local digital marketing firm Qoob Agency and Pulse Group Media – publishers of Business Times and Business MK newspapers. So far this collaboration has expanded the survey’s reach and strengthened its authority, providing us with greater insight into how SMEs navigate their current business environment.
The survey results will offer a deeper understanding of the economic landscape and shed light on how SMEs plan to navigate the changing business climate.
Greg emphasises the significance of the survey, stating, “The results of our SME Business Survey help us to predict the challenges businesses are likely to face in the coming year and provide a support network in response to that to offer the information they need to help them to succeed.
There is still time to complete the survey. It doesn’t take long to do and your involvement will really help us to get a clearer picture of what businesses need from us right now.”
To take part in the 2023 SME Survey, visit https://www.hrsolutions-uk.com/business-support/sme-business-survey before 15th December.