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Read if you also like a good statistic 📊 …not that they’re particularly positive mind! There has been a noticeable trend of recruitment cuts and freezes ❄ and last week the CIPD published their quarterly labour market output report providing some further insights into this. If you missed it, here are some of the key points: 𝐍𝐞𝐭 𝐞𝐦𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭 𝐛𝐚𝐥𝐚𝐧𝐜𝐞 𝐞𝐝𝐠𝐞𝐬 𝐝𝐨𝐰𝐧 𝐭𝐨 𝐩𝐫𝐞-𝐩𝐚𝐧𝐝𝐞𝐦𝐢𝐜 𝐥𝐞𝐯𝐞𝐥𝐬 💡 • The net employment balance – the barometer for employment intentions which measures the difference between employers expecting to increase staff levels in the next three months and those expecting to decrease staff levels – remains positive but has continued its downward path from +22 last quarter to +19 this quarter. • 𝐍𝐨𝐭𝐞: This is buoyed by the private and voluntary sectors; net employment balance is simmering just above zero in the public sector at +3, the lowest it has been since summer 2019…. …𝐏𝐮𝐛𝐥𝐢𝐜 𝐬𝐞𝐜𝐭𝐨𝐫 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐫𝐬 𝐭𝐰𝐢𝐜𝐞 𝐚𝐬 𝐥𝐢𝐤𝐞𝐥𝐲 𝐭𝐨 𝐫𝐞𝐝𝐮𝐜𝐞 𝐬𝐭𝐚𝐟𝐟 𝐥𝐞𝐯𝐞𝐥𝐬 💡 • Public sector employers are twice as likely as their private sector counterparts to decrease their total staff level in the next three months (19% v 9%). 𝐌𝐨𝐫𝐞 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐫𝐬 𝐤𝐞𝐞𝐩𝐢𝐧𝐠 𝐬𝐭𝐚𝐟𝐟 𝐥𝐞𝐯𝐞𝐥 𝐬𝐭𝐞𝐚𝐝𝐲 – 𝐍𝐨𝐰 𝐛𝐞𝐢𝐧𝐠 𝐫𝐞𝐟𝐞𝐫𝐫𝐞𝐝 𝐭𝐨 𝐚𝐬 ‘𝐓𝐡𝐞 𝐁𝐢𝐠 𝐒𝐭𝐚𝐲’ 💡 • The net employment balance has fallen for 10 consecutive quarters. Now, over half (55%) of employers are looking to maintain their current staff level. This is the highest proportion since winter 2016/17. 𝐄𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐩𝐚𝐲 𝐚𝐰𝐚𝐫𝐝𝐬 𝐡𝐢𝐠𝐡𝐞𝐫 𝐢𝐧 𝐩𝐫𝐢𝐯𝐚𝐭𝐞 𝐬𝐞𝐜𝐭𝐨𝐫 💡 • The median expected basic pay increase remains at 4% for the second consecutive quarter. Expected pay awards in the next 12 months are lower in the public sector (3%) compared with the private sector (4%). 𝐇𝐚𝐫𝐝-𝐭𝐨-𝐟𝐢𝐥𝐥 𝐯𝐚𝐜𝐚𝐧𝐜𝐢𝐞𝐬 𝐫𝐞𝐦𝐚𝐢𝐧 𝐩𝐫𝐞𝐯𝐚𝐥𝐞𝐧𝐭 💡 • 37% of employers surveyed have hard-to-fill vacancies. Hard-to-fill vacancies are significantly higher in the public sector (52%) than the private sector (33%). • Most employers have responded to hard-to-fill vacancies in the past six months by upskilling more existing staff… …This requires thoughtful assessment and 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬 and 𝐢𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞𝐬 to nurture internal talent. A great way to do this is through targeted 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐜𝐞𝐧𝐭𝐫𝐞𝐬 (DC's) to identify potential and development needs of your current people. Some of the advantages of such DC's can be found here: https://lnkd.in/ewhxqCMA Link to the full report in comments #developmentcentres #businesspsychology #selection #assessment #development #talent #upskill #training #recruitment #psychology #employment #CIPD #pay #staff #employee

In this week's Sten10 Assessment Club newsletter I had the joy of speaking with Maryam S. the co-founder and CEO of PANTHEA who are revolutionising development for early careers individuals in the Middle East! Maryam is an award-winning leader in the DE&I space and shared her insights on the trends she's observing in the workplace right now: 🪙How shifting to a "creative economy" affects working norms ❇️The key skills graduates need when entering the workplace 🙌The vital role leadership plays in shaping the behaviours they want to see To read the whole thing, and stay in touch for more interviews, remember to sign up to our assessment club, link in the comments! 🤓 #AssessmentClub #FutureofWork #BusinessPsychology #ClientInsights #EarlyCareers