Firstly, View HR would like to wish you a happy new year.
The Covid-19 pandemic has shown that none of us can predict for certain what the future holds! However, we explore some of the key HR issues that employers might find themselves facing this coming year.
What can employers do to help ensure they have the talent to succeed?
Of course, the rules of supply and demand mean that rates of pay, and benefits are important factors but the heightened appetite for hybrid and flexible working is also a leading factor.
However, it is also important to remember that (as with customer service), retaining your current employees can often be more cost effective than trying to recruit new ones. As such, tools such as “stay interviews” can help to inform the management of that individual employee, as well as wider HR strategy.
Will flexible working grow?
Employers are likely to face more requests, questions (and possibly even challenges) from employees on this topic. Benefits such as enhanced flexible working entitlements can be a helpful in attracting talent to your organisation, and some reports also highlight that this can improve accessibility for a diverse workforce. We recommend having a clear flexible working policy in place, and publicising this with your employees.
What impact will rising inflation have on our people?
A rise in inflation is not just an abstract economic concept; it means that employees are likely to be facing an increase in day-to-day living costs, and so their salary will not be stretching as far as it used to. As such, employees may be more likely to seek a pay-rise; either from their current employer, or by going into the market and seeking a new opportunity with better pay. We do recommend that employers undertake regular benchmarking and keep abreast of market data, to inform their pay policies.
It’s also worth remembering that the National Minimum and Living Wage rates are set to increase in April 2022.
Gemma Murphy, Director of View HR Limited
hr@viewhr.co.uk | 01425 205390
This article is featured in the January issue of the Dorset Business Focus magazine. Read on the online version here.