It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
The biggest challenge for employers in 2023 will be retaining and motivating their older members of staff, says the boss of a HR & Employment Law firm.
Rob Tice, director of growing Derby business BMcPrecept, sees continued challenges for businesses across the UK in the new year and is urging bosses to think of innovative ways to incentivise their staff.
Findings from the recent Resourcing and Talent Planning Report from the Chartered Institute of Personnel and Development (CIPD) found that recruiting for senior and skilled roles was most challenging with 58% of companies struggling in this area.
Sixty per cent of companies also reported that talent was more difficult to retain compared with 12 months ago.
Rob said: “Retention of staff is a massive issue for many businesses. Pay is, of course, a huge factor in keeping employees happy but flexible working and other factors are becoming increasingly important.
“It is also important to bring in the right staff. Currently, we are seeing a lot of people in roles that they may not necessarily be suitable for because the Company has struggled to find the right candidate and that has a knock-on effect for management, owners and clients.
“That is where honest conversations need to be had. These conversations haven’t been held because people try to avoid them; they’re afraid of the consequences on livelihood, especially with the rising cost of living.
“But it’s vital for everyone that employers are honest and open.”
Rob also believes that, in 2023, we will see an increase in apprenticeships and a push on workers over the age of 50 being re-employed.
In November, the Government unveiled a network of dedicated 50PLUS: champions now in place across England, Scotland and Wales. It builds on £22m funding boost secured to support older workers.
“Brexit hasn’t helped the jobs market but the huge drop-out of people aged over 50 in the labour market is something that is being addressed,” said Rob. “These people are seen as a huge asset to our country with their skills and experience.
“We are also seeing quality apprenticeships come back in fashion, with more and more companies seeing the value of employing apprentices at all levels including degree-level apprentices.”
