xcd’s Post

While in February of 2024, the BCC economic forecast stated that the UK recession was expected to end, the British public were still warned that growth would still be weak📊 Human Resources play a vital role in the workplace during any time of economic hardship. In spite of the obvious stresses and anxieties that a recession can bring for people professionals, their skills become more important than ever💜 In the below article, we explore some of the ways that a recession affects Human Resources and how HR can take control of the situation. https://lnkd.in/dC-eaXen #UKcostoflivingcrisis #HRleaders #UKrecession

UK recession risk grows as companies cut staff at a sharp pace Full Article Link >>> https://lnkd.in/g_w4k5kc Sep 22, 2023 03:10 PM IST While the economy is weakening, there was more evidence of inflation &hellip;<p class="read-more"> <a class="ast-button" href=""> Read More »</a></p> Latest For Me . . . . #trendingnews #newstrending #trendingtopicnews #lifestyle #business #news #healthylifestyle #smallbusiness #supportsmallbusiness #lifestyleblogger #luxurylifestyle #businessowner #businesswoman #smallbusinessowner #businessnews

Data suggests that the UK appears to have emerged from a very well-documented, two-quarter-long recession. It's great to see that the economy grew by 0.6% in the first quarter of this year (Source: ONS data). The UK fell into a recession at the end of last year after shrinking for two quarters in a row (six months). More in the BBC report, here: https://lnkd.in/ebgn7_cv And the recruitment sector appears to also be responding positively, too. We have certainly noticed an increase in business confidence within the recruitment sector in Q1. Our market data from our Outlook 2024 report also suggests that hiring confidence in recruitment companies is set to return from Q2 this year and the sector is optimistic about better months ahead, following a 'slower' 2023. The Recruitment sector is often considered, or referred to, as a confidence barometer for the UK economy and we have certainly noticed a trend between the economic performance and positive sector happenings since the start of Q2. If you would like advice on how to scale with potential headcount growth opportunities in your recruitment company, please feel free to reach out to myself and the team at Camino Partners Ltd for more information. Good luck in the forthcoming quarters and here's to more positive news for both the economy and our sector. -Sachin

So the news today that UK has gone into recession (or I prefer, 2 quarters of negative growth) which is not surprising. With interest rates "high" and continued inflation (at of course a much lower rate), this is all having an impact. From an Employer perspective this puts even greater emphasis on Employees financial wellbeing. There are many tools and schemes that can sit alongside any direct pay increases to really help Employees; some don't even come at a cost to the business! Happy to have an informal chat to talk through these. ian.lacey@pluxeegroup.com #financialwellbeing #affordability #recession https://lnkd.in/eh5qQCYE

The latest economic update from the BBC indicates that the UK economy has plateaued due to the impact of higher interest rates. Many companies are responding by making strategic decisions on talent, focusing more on internal efforts and retention rather than expanding their workforce. Considering the 14 consecutive interest rate hikes aimed at curbing inflation, the UK economy has shown resilience amid global challenges. It's crucial to bear in mind that economic situations are cyclical. As highlighted in our recent #WednesdayWisdom post, your #EmployeeValueProposition plays a vital role in attracting the right talent. Continuously evolve and develop it to not only retain your current talent but also be well-prepared to seize growth opportunities when the economic cycle shifts. If you're seeking a partner to assist in refining your Employee Value Proposition, why not schedule a free, no-obligation call? Find the link in the comments. We've also attached a link to our complimentary Talent & Employer Brand Audit & Diagnostic tool. https://lnkd.in/eHgsrXsF

🔮 Labour Market Outlook: Amidst global economic challenges, the UK's labour market demonstrates resilience. 💪 The economy is facing a challenging outlook with the Bank of England forecasting little or no growth in 2024 and only modest growth in the following years. Despite this, the labour market shows durability with employer hiring stronger than pre-pandemic levels, although slightly down from their peak in late 2022. Follow @onefixmedia for careers, hiring and advertising tips and advice and to learn more about our service! #UKLabourMarket #EconomicResilience #LabourTrends

Some promising news for professionals and job seekers alike! According to the latest report from the independent Office for Budget Responsibility (OBR), the UK's recession, which witnessed a contraction in growth during the latter half of last year, is officially over. But wait, it gets better! The forecast indicates that not only is the recession behind us, but the trajectory ahead looks incredibly promising. Instead of facing stagnation or a sluggish recovery, the OBR predicts a robust growth trend for the UK economy. By the end of this year, we can anticipate growth rates surpassing expectations and continuing to soar through 2025, 2026, and 2027. This means exciting opportunities lie ahead for businesses, professionals, and job seekers as the job market is set to improve undeniably. Are you ready to seize the opportunities this optimistic forecast presents? #EconomicGrowth #JobMarketOptimism #OpportunityKnocks

The UK economy has just been reported to be in a recession with growth forecasts for 2024 - 2025 predicted to be no more than 0,75% which is the lowest it has been since the major global banking financial crisis of 2007 - 2009. This will inadvertently have a major impact on the health and social care sector despite high staffing shortages and high expenditure across the board. The challenge is to address key areas of concern across the various public and private sector services whilst managing the challenges this recession will bring. It is important for service managers and directors to balance the need to maintain the quality and efficacy of the services they provide, whilst adapting to the unpredictable micro and macro economic challenges that lie ahead. The key is in developing systems and cultures within their organisations that foster growth and restrict complacency and uncalculated risk. #changelives #connect #advise #educate #inspire Rodney R. Chawota

📊 Navigating Q4 2023: Insights into the UK Labour Market 📉 Key Points: - UK wage growth eases amid a 17-month decline in job vacancies, hinting at a softening labour market. - Traders anticipate a potential interest rate reduction, though labour market tightness remains a variable. 💸 Earnings Overview: - Regular pay up 7.3% (private sector) and 6.9% (public sector). - Total pay (including bonuses) sees a solid 7.2% increase. 💼 Real Terms Impact: Inflation-adjusted data reveals a 1.4% YoY rise in regular pay and a 1.3% increase in total pay. 🔍 Outlook: The Bank of England's decisions in response to market predictions, especially in its meeting on Thursday, will shape near-term labour market dynamics. #Retail #RetailInflation #Inflation #WageGrowth #RetailInsight #Earnings #BankofEngland #Outlook #Q42023 #UKLabourMarket

Mixed signals? No wonder we’re confused! On the one hand we are being told that lower interest rates will ease inflation and lift the economy and house prices. On the other, we have a dire prediction that approximately 47,000 UK companies are on the brink of collapse after a 25% jump in the number of businesses facing “critical” financial distress in the final three months of 2023. At the same time a survey by jobs website Totaljobs, as revealed that almost half the firms they asked were intending to review pay and benefits and possibly improve them in order to retain staff. Furthermore, more than twice as many British industries reported rising demand last month, according to the latest Lloyds Bank UK Sector Tracker. But the benefits of any improvements are not evenly spread as the Resolution Foundation points out. While it says the services sector is booming, “London is capturing an ever-bigger share of the UK's service sector exports”. Meanwhile there is also speculation that the UK may already be in a “technical” recession. So what are businesses to make of all this? It could be argued that it is the perfect storm. And what do you do when it is stormy? You take cover and take precautions. That means keeping up to date records, tracking cash flow rigorously, being careful not to expand too quickly and if you are having cash flow and other problems talk to someone such as a restructuring advisor to get a handle on the position your business is really in. If you are in need of an informal chat we’re here for you, You can call, message or email us to set up a date.   #K2BusinessPartners #businessconfusion # inflation #taxcuts