Latest news with #HiringIntentions
The Guardian
19 hours ago
- Business
- The Guardian
UK small business owners: have your hiring practices changed recently?
Hiring intentions among British businesses are at a record low, according to new research. Experts suggest bosses are 'stuck in limbo' and are waiting for greater clarity in the autumn budget, as they grapple with rising employment costs and worry about the economic outlook. Only 57% of private sector employers plan to recruit staff in the next three months – down from 65% in autumn 2024, according to the Chartered Institute of Personnel and Development (CIPD). The hospitality and care sectors, and other organisations that hire young people, have been hit the hardest by mounting employment costs, the CIPD said. We would like to hear from you if you own a small business and your recruitment practices have changed over the last few months. If you've had a recruitment freeze, tell us why. Is this a short-term measure, or are you now resigned to working with fewer staff? Share your experiences in the form below or by messaging us. Please include as much detail as possible. Please include as much detail as possible. Please note, the maximum file size is 5.7 MB. Your contact details are helpful so we can contact you for more information. They will only be seen by the Guardian. Your contact details are helpful so we can contact you for more information. They will only be seen by the Guardian. If you include other people's names please ask them first. Contact us on WhatsApp at +447766780300. For more information, please see our guidance on contacting us via WhatsApp. For true anonymity please use our SecureDrop service instead. If you're having trouble using the form click here. Read terms of service here and privacy policy here.
Zawya
2 days ago
- Business
- Zawya
UK employers report weaker hiring and pay growth in July
LONDON: Hiring intentions by British businesses fell to their weakest since the COVID-19 pandemic and recruiters said starting pay was rising at the slowest pace in over four years, according to surveys on Monday which add to signs of a weakening jobs market. With the Bank of England watching the jobs market closely, the Chartered Institute of Personnel and Development said only 57% of private sector employers planned to recruit staff over the next three months, the lowest since the start of 2021 though only slightly down from 58% in the last quarterly survey. The professional body for the human resources sector said higher employer social security charges introduced by finance minister Rachel Reeves and an increased minimum wage were hurting jobs, particularly in hospitality and social care. Planned changes to employment law which are likely to make it harder to sack employees in their first two years in a job were also making businesses more reticent to hire younger, less experienced staff, CIPD economist James Cockett said. Other business surveys have shown similar concerns, as well as broader headwinds from weak domestic demand and residual uncertainty for some exporters over U.S. trade tariffs. Official data due on Tuesday is likely to show the jobless rate in the three months to June held at 4.7%, close to a four-year high, according to a Reuters poll of economists who will also be watching to see if pay growth slows as the BoE expects. Four of nine BoE policymakers opposed its quarter-point interest rate cut to 4% last week and they are likely to need further convincing that domestic inflation pressures are easing. CIPD members expected to raise pay by a median 3% over the coming year, unchanged from the previous five quarters. Separately on Monday, the Recruitment and Employment Confederation said growth in starting salaries in July was the weakest since March 2021 while pay for temporary staff grew by the least in five months. "Economic uncertainty, the complexities of AI adoption and global headwinds are all weighing on business planning," said Jon Holt, group chief executive at accountancy firm KPMG which sponsors the REC survey.
