Heading towards year-end

We're now on the last stretch to Christmas, and hopefully, most of you are looking forward to a well-deserved and relaxing break. But before we head off, it's a good time to reflect on the final quarter of the year and look ahead to what 2024 might bring.

Of course, the big event from the last quarter is that we now have a confirmed government in place and with the change in government has come a raft of policy changes.

Some of these, like scrapping Fair Pay Agreements, might not have a significant impact on the for-purpose sector, but others in health, climate and social areas could have knock-on effects.

The job market has been swinging back towards employers

From a peak a couple of years ago of hiring and wage increases, the pendulum is now swinging back to an employer's market - salary growth has slowed right down, and competition for jobs is greater.

Job ads are down, and application numbers per job are up - this is reflected in Do Good Job's stats and more widely across the country.

That might mean it's easier for you to find talent. But it might also mean you have to sift through a lot of applications to find it!

Looking forward - there are still challenges to navigate

In general, over the latter months, business confidence has been increasing, and many are optimistic about the prospects for 2024. But there will still be challenges that for-purpose organisations will need to navigate.

Here are some areas that might come into focus in the coming months.

• Long Covid poses a new issue when it comes to employee health and well-being, and employers may need to look at plans for how to deal with this sort of health issue.
• Migration is also a potential challenge, with many people entering the country but a decent number leaving for places like Australia, too, now that border controls have been lifted and moving has become easier again post-COVID.
• Staff benefits such as hybrid working and professional development continue to be important, even though recruitment and retention challenges seem to be easing. Now is a great time to invest in the people you have so that if it becomes a candidates' market again, you aren't stuck in a struggle to recruit new staff. Remember, it's easier and more cost-effective to keep the people you have than to constantly recruit and train new staff.
• Sustainability - not only for the sake of the planet but also as a business opportunity - is entering the spotlight. A report by the Sustainable Business Network found that some businesses are putting a focus on sustainability because it gives them a competitive advantage. It's true that many prospective customers and employees - especially younger ones - are looking at the green credentials of organisations. Those in the impact and for-purpose sector already know how important sustainability is for lots of reasons, so you may be ahead of the curve here.
• AI is looking like more than just a flash in the pan, so if you haven't already, next year could be a time to look at how you can use AI ethically within your organisation and when it's best to avoid it. It's also good to be aware that other people are likely to be using AI too. We've seen several AI-based recruitment options recently offering to use AI to match jobs and candidates, screen CVs and even write a cover letter for you.

If you'd like a bit more detail around some of these, catch up with our full Q4 Labour Market Update on our blog.

Want to get a head start on recruitment for next year?

If recruitment is on your to-do list, then don't forget that we are offering 10% off Basic, Enhanced and Premium single listings until the end of December.

Just enter the code 10DECEM when you buy a single listing to get your discount.

Plus, if you list your job in December, we'll extend the listing time to 60 days to give you more flexibility over the holiday season.

Happy holidays

This is our last LinkedIn newsletter of the year. The Do Good Jobs team is taking a break over Christmas and New Year. We'll be back on Monday 8th January. We wish you all a happy and restful holiday.