Is Low Unemployment a Threat to Your Business?

In Business, In The Press by PCH Staff

As unemployment in the UK has fallen to its lowest level in the last six years with 30.8 million people now in work and an unemployment rate of 5.8% of the adult working population, we ask how this may be seen as a threat to your business and what steps you can take to protect your most valuable resource… your employees.

Until recently many employers had the pick of a large and well qualified talent pool and there was significant competition for jobs with in many cases hundreds for vacancies. Is this now the case? Evidence would suggest that for certain roles where specific talent is needed there is a distinct lack of suitable candidates… how can this be countered?

From discussions with our clients, many of them have suggested that having a comprehensive benefits package which has been communicated properly allows both current and prospective employees to calculate the additional salary it would take to buy these benefits. Plus by having a comprehensive benefits package you will be seen as an employer that places a premium on staff welfare.

This though is only half the story…

What happens when an employee falls ill and is absent or you see a reduction in effectiveness? This can have an effect not only on the success of your business, but on the welfare of colleagues. Many employee benefits offer services to help manage absence and cover some of the key costs associated with sickness absence.

The ultimate aim of many of the services is to achieve a swift and effective return to work or even prevent absence in the first place. Therefore the need to recruit to replace may be removed.

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