Restructuring Businesses To Move On From The Recession And Focus On Economic Recovery
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...key levers on opportunities for development[/b], reward and recognition. There is a growing realisation that people no longer base all there aspirations and contract demands simply on money, they want more than that. So there is a need for companies to promote and deliver sustained personal development opportunities to all of their work force.
With the cost of living on the up due to the recent VAT hike and the likely rise in inflation rates, there might be a temptation by businesses to increase wages to retain employees and attract candidates. However, they should focus on offering diverse...
...benefit options based on personal development and skills training, rather than financial incentives. This will help maintain financial stability and also ensure that a workforce is well-protected and invigorated. It all falls under the need to improve and manage organisational effectiveness through better candidate experience, for both new and existing employees.
Balancing the scales between business needs and staff needs will be made more difficult by the restructuring of the public and private workforce across the UK. With heavy public sector job losses expected in 2011, there will be an increased role for HR in supporting firms making redundancies. Making mass culls to a workforce without implementing thoughtful strategy could be hugely detrimental to a company’s ability to attract talent in the future. An expertise is required to identify who the business can afford to let go to ensure the right staff remain and business performance is maintained.
The aim of candidates in 2011 should be to pinpoint core skills and personal strengths and focus on these specialisms to secure the best opportunities available. In particular, the uplift in the financial services and manufacturing sectors will present workers in the HR sector with ample job opportunities, and if you are able to mirror specific skill-sets... continued on page three >