54% of employers have increased wages to either keep talent or to recruit new employees, survey finds
November 2022 - Business Support
54% of employers have increased wages to either keep talent or to recruit new employees: A survey looking at how employers are keeping the talent they currently have and the process behind recruiting new employees, has uncovered that 54% of organisations have increased the salaries they offer, to maintain the workforce they currently have and to recruit new talent.
The twenty-third annual study by the CIPD and Omni RMS polled over 1,000 HR professionals during a time of economic pressure and a skills shortage. There are many ways for businesses to recruit new talent, however, some are more favourable than others, found the study.
One of the more common ways to attract employees is to offer a hybrid/remote working pattern, with 68% of those surveyed stating this method has helped them retain and recruit talent.
In addition, of those who had recruited within the last 12 months, three in 10 said the option for flexible working is one of the most effective recruitment methods.
With the challenges that face human resource professionals, almost half said the use of remote/flexible working has increased over the past few years and they do not expect it to decrease or stop over the next year.
Clair McCartney, senior resourcing and inclusion advisor for the CIPD, said: “Businesses are facing some of the most challenging times imaginable in the coming year, with a cost-of-living crisis and potential recession. It is now more important than ever to be proactive with workforce planning and to develop compelling offerings to attract and retain a diverse group of employees. Employers won’t be able to afford continued pay increases, but they have an array of other options available to them to continue attracting and retaining staff.”
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