Talence Ltd

New data from the ISE reveals fierce competition in early careers as hiring growth slows. With more students applying and employers lowering barriers, hiring for early careers has reached new levels. Yet with limited economic growth, companies face the challenge of achieving results with fewer resources. The ISE urges companies to hold steady on student recruitment, as today’s hires become tomorrow’s leaders. Are companies ready to plan long-term despite economic challenges? #EarlyCareers #Recruitment #HiringTrends #FutureOfWork #ISE

New CIPD & Omni RMS report reveals costly inefficiencies in hiring and retention strategies Only 24% of organizations track recruitment ROI, while just 31% calculate turnover costs. According to Omni’s Recruitment Cost Calculator, companies hiring 100 people per year could lose over £500,000 due to hiring/replacement expenses and a 34% turnover rate. Key Findings: Private sector firms are planning recruitment budget increases, yet lack tools to measure effective outcomes. Many businesses focus on short-term metrics (e.g., time-to-hire) while overlooking critical data that impacts employee retention. Inefficient hiring practices disrupt team morale and performance, amplifying attrition. Louise Shaw of Omni RMS notes, “Addressing inefficiencies in hiring and onboarding is essential to avoid further resource waste amid skills shortages.”

A study by Wipro's Designit shows that nearly half (49%) of employers find meeting Gen Z’s work-life balance needs their top challenge. Other key hurdles include aligning with Gen Z values (38%), whereas tech engagement (6%) and creativity retention (8%) are seen as less pressing. Dr. Pardis Shafafi, responsible business lead at Designit, explains, "Gen Z’s desire for work-life balance is often perceived as a lack of motivation. But it’s a mindset shift driven by new values. Employers must adapt to these values to attract and retain Gen Z talent.” As Gen Z heads toward making up 25% of the workforce by 2025, companies that foster transparent, values-driven environments will fare better in retaining this generation. Are companies ready to make this shift?

The UK government has approved a new Energy Skills Passport to help workers in oil and gas transition into renewable energy roles, with the scheme set to launch in January. This initiative will allow both workers and employers to easily identify the qualifications and training standards needed for offshore wind jobs. The energy skills passport, jointly managed by Renewable UK and Offshore Energies UK (OEUK), will offer an interactive career-mapping tool, streamlining training and reducing duplication of courses. It aims to help highly skilled oil and gas workers transfer their expertise into the booming offshore wind sector, supporting the UK’s transition to Net Zero. Energy Secretary Ed Miliband, along with Scottish Net Zero Secretary Gillian Martin, described the passport as a significant step towards a green energy future, ensuring the workforce can seamlessly transition between sectors. The initial focus will be on offshore wind, but future updates will expand to other areas of renewable energy. The renewable energy sector is expected to create thousands of jobs, with offshore wind employment forecasted to grow from 32,000 to over 100,000 by 2030. According to OEUK, 90% of oil and gas workers have transferable skills that can be applied to offshore renewables. As the UK seeks to build a homegrown energy transition, how do you think industries can further collaborate to ensure a smooth workforce transition while maximizing the potential of the green economy? #EnergyTransition #NetZero #GreenJobs #RenewableEnergy #OffshoreWind #OilAndGas #SkillsPassport #Sustainability #CleanEnergy #WorkforceDevelopment

The UK is set to create nearly 38,000 jobs following the announcement of £63 billion in private investments during the recent International Investment Summit. These investments span key sectors including tech, infrastructure, renewable energy, and AI, showcasing a strong vote of confidence in the UK’s economic future. Key investments include: £6.3bn in UK data centres: Several major US-based tech firms have announced substantial investments in UK data centres, vital for enhancing the country’s AI capabilities and supporting economic growth. Data centres store and process vast amounts of information critical to AI, driving further development in this fast-evolving field. Infrastructure investments: Associated British Ports (ABP) and Stena Line will jointly invest over £200m in a new freight ferry terminal at the Port of Immingham, expected to create around 900 jobs (700 during construction and 200 permanent). Additionally, DP World is investing £1bn in the London Gateway port operation to add two berths and increase transport capacity, which will support international and domestic supply chains. £150m R&D campus at Imperial College London: This new investment will expand Imperial’s deep tech ecosystem in West London, creating a hub for innovation and economic growth. Renewable energy: Companies like Iberdrola, Orsted, and Octopus Energy are investing billions into renewable energy projects, including wind farms and solar power, to drive the UK's net-zero ambitions and create thousands of new jobs. Other highlights include Amazon Web Services' £8bn investment, expected to support around 14,000 jobs annually, and a major £10bn AI data centre investment in Blyth, Northumberland, creating 4,000 jobs. Given the scale and diversity of these investments, it is clear the UK’s strategy to attract foreign capital is well underway. However, questions remain around how smaller businesses and local economies will benefit from these large-scale investments. What can be done to ensure that these investments create sustainable, inclusive growth, particularly in regions outside major cities? How can the benefits of this economic surge be distributed more evenly across the UK to foster long-term prosperity? #InvestmentSummit #UKEconomy #AI #RenewableEnergy #DataCenters #Infrastructure #TechInnovation #EconomicGrowth #JobCreation #Sustainability #PrivateInvestment #GlobalBusiness #NetZero #InclusiveGrowth

UK employers are increasingly flexible in hiring non-English speakers to tackle labour shortages, with 2.8% of job ads stating "English not required," mainly for lower-paid roles like cleaning (7.9%), driving (7.6%), and beauty (6.6%). While this shift helps attract migrant workers, the UK lags behind countries like the Netherlands (7.8%) and Spain (5.8%) in offering language flexibility. Jack Kennedy from Indeed highlights that while language flexibility may help fill lower-skilled jobs, visa sponsorships for highly skilled migrants remain scarce, with only 0.5% of job listings offering them. Is language flexibility the key to solving labour shortages, or should the UK focus more on attracting skilled migrants? #UKJobs #MigrantWorkers #LabourShortages #VisaSponsorship #Workforce

A recent survey by the Institute of Job Aggregation (IJA) has shed light on growing concerns around the use of AI in recruitment. Almost 48% of job seekers have noticed an increase in fake job ads since AI tools became more common, and an overwhelming 90% of respondents say they don’t trust AI to manage recruitment fairly. Key challenges identified include bot traffic inflating job views, AI-driven biases in applicant tracking, and growing risks of data theft. Mike Wall, Chair of the IJA, stressed the need for collaboration among industry leaders, regulators, and tech experts to address these challenges and restore trust in the recruitment process. The IJA is committed to promoting best practices and transparency to ensure AI-driven recruitment benefits everyone. #AIRecruitment #JobSearch #TechEthics #DataSecurity #FutureOfWork #RecruitmentChallenges Is AI improving the hiring process, or creating more hurdles for job seekers?

UK universities are seeing a 17% drop in international student visa applications by the end of August 2024 compared to last year. This decline comes as institutions face rising costs and stagnant domestic tuition fees, making overseas recruitment more critical than ever. Robin Mason, pro vice-chancellor at the University of Birmingham, said competition for fewer students is intensifying, with some universities growing while others face declines. UCAS data shows 61,110 international undergraduates accepted for 2024-25, a 0.6% drop from the previous year. Worrying trends include a 1.9% drop in Chinese enrolments, a 3.8% drop from India, and a 31.4% drop from Nigeria. The UK’s ban on students bringing dependants, along with the collapse of Nigeria’s currency, has further deterred applicants. In the first half of 2024, student visas for India fell by 28%, and Nigerian visas dropped by 68%. Many institutions, especially those relying heavily on students from India and Nigeria, are facing revenue shortfalls. Some may lose more than £2 billion in international student revenue this year, leading to staffing cuts and course closures. UKHigherEducation #InternationalStudents #StudentVisaCrisis #HigherEdChallenges #UniversityFundinghttps://buff.ly/3YeIxIk

New research from Canada Life reveals that more than half (51%) of UK employees regularly exceed their contracted hours, with 17% working at least two extra hours daily. This trend highlights the toll the cost-of-living crisis is taking on workers, with 25% reporting increased job-related stress over the past two years. The study also shows that 30% of employees fear they may need to work beyond the state pension age due to financial pressures, and 18% say the crisis has worsened the impact of work on their personal lives. Notably, 10% find it difficult to disconnect from work, reflecting challenges in maintaining a work-life balance. To cope with these pressures, workers are checking emails more often outside work hours (16%), taking fewer breaks (12%), and starting work earlier (11%). Additionally, 15% feel the need to prove their value by consistently working harder. Dan Crook, Canada Life’s Protection Sales Director, points to the rise of an "always on" work culture, exacerbated by the pandemic, as a key driver of this overtime trend. With two extra hours daily amounting to 520 hours annually, this unpaid work could cost employees over £9,000 a year. #WorkCulture #CostOfLivingCrisis #Overtime #WorkLifeBalance #HR #EmployeeWellbeing

A new survey by Ciphr reveals that over 7.3 million UK employees (26%) are actively seeking new job opportunities in 2024, largely due to the cost-of-living crisis. Younger workers (18-34) are particularly affected, with 40% on the job hunt. London-based employees and those in sales (37%), business consulting (35%), and hospitality (35%) are among the most eager to switch roles. Financial pressure is a key driver, especially for younger generations—53% of 18-24-year-olds and 34% of 25-34-year-olds are seeking higher-paying positions. In comparison, only 9% of those over 55 are looking for new jobs. Many job seekers are also taking on extra work, with 53% picking up additional hours and 40% exploring side gigs. Job search trends also vary by region, with London (37%) and the South West, Northern Ireland, and Scotland (around 33%) leading the way. In contrast, the East Midlands has the fewest job seekers (12%). Industry breakdown shows that professionals in sales, business consulting, and hospitality are most likely to be seeking new opportunities, while legal professionals (15%) and transport workers (17%) are the least likely to be looking. These findings highlight the impact of financial pressures on career decisions and regional and sector-specific trends in job seeking. #JobMarket #CostOfLiving #EmployeeTrends #JobSearch #HR