The Covid-19 pandemic dramatically affected the UK job market, with unemployment rising by almost 400,000 people during the October-December period in 2020 ¹. Today, those effects are still being reflected in recent statistics, particularly when coupled with the sharp rise in cost-of-living. In April 2023, the unemployment rate in the UK increased to 3.8%, and although wages rose by 5.9%, total pay fell by 4.1% ² once inflation was taken into account, one of the steepest drops since 2009.

Additionally, businesses around the country are being impacted by an ongoing labour shortage and are having difficulty filling job vacancies, an issue which translates to delayed economic growth. Therefore, it is important for businesses to consider how they can help create job opportunities and support their local economy by thinking outside the box regarding recruitment and staff retention.

Offer Training and Apprenticeships
For many businesses, finding candidates with the right skillset and attitude to fulfil the job criteria is becoming increasingly difficult, as school leavers or those in the workforce who want to change their careers often have little to no experience in the area they apply for. Setting up an apprenticeship or on-the-job training programme can therefore be very advantageous, as it provides skills-focused education opportunities for both existing employees and new talent. The training can be tailored to upskill candidates in key areas that are beneficial to your business and attract career-oriented, dedicated individuals to your workforce.

Providing access to training and employment opportunities also supports the wider community as it boosts social mobility for people from diverse backgrounds and education levels who may not otherwise have been considered for a job role.

Partner with Local Organisations to Recruit Talent
If your company is struggling to recruit the talent you need to fill key positions, it may be worth considering candidates from community groups, local schools or nearby universities. Organisations such as these have a wide pool of talent to recruit from, often with varying skillsets, backgrounds and abilities.

Building relationships with these educational institutions and supporting their development through sponsorships or funding will ensure that your company is perceived as a trustworthy, viable option for students to apply to once they have graduated. Many schools and universities also hold job fairs or recruitment days which are valuable opportunities for local businesses to gain visibility and recruit talented candidates for various job roles.

Example: ParkerSteel Business Academy
ParkerSteel is a leading steel stockholder and processor in the southeast of England, employing over 300 people across the country. In order to combat the ongoing labour shortage in the UK, ParkerSteel’s senior management decided to develop their own external and internal talent for the company by launching the ParkerSteel Business Academy, a one-year programme aimed at providing diverse and exciting career opportunities for local candidates throughout their commercial operations.

The programme provides practical learning experiences and in-depth training in five areas of the business and encourages long-term career opportunities at ParkerSteel upon its completion. Applications were considered from current employees who were interested in the commercial areas of the business, as well as from graduates and external candidates with 3 years of work experience in any field.

Thus far, the Business Academy has enabled ParkerSteel to recruit talented individuals with a variety of backgrounds and personal experiences who can bring fresh ideas and new perspectives to the business. Additionally, the surrounding community has benefited from this programme as it provides education and training opportunities for local candidates and a fast-track to key positions at a leading steel company in the UK.

References:
1. commonslibrary.parliament.uk
2. ons.gov.uk/employmentandlabourmarket
3. theguardian.com/real-value-uk-pay-fall-inflation-wage-increases-unemployment