Be awesome.
We drive special initiatives to support employers and candidates on their journey!
WE ARE HEYLLO! WE CREATE AWESOME.| Heyllo! is one of the fastest growing recruitment agencies in the North East. |
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Inflation's resurgence in the United Kingdom has cast a shadow of uncertainty over businesses, profoundly impacting their operations and recruitment strategies. The Consumer Prices Index (CPI) rose by 6.8% in the 12 months to July 2023, down from 7.9% in June, and down from a recent peak of 11.1% in October 2022. It is still significantly above the Bank of England's 2% target.
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Here are some statistics highlighting the impact of inflation on UK businesses and some recommendations for their recruitment plans:
1. **Reduced Consumer Demand**: Rising prices have led to reduced consumer purchasing power. According to the Office for National Statistics (ONS), in Quarter 1 (Jan to Mar) 2023, household spending growth (adjusted for inflation) was 0.0% compared with Quarter 4 (Oct to Dec) 2022. To address this, businesses should consider diversifying their product or service offerings to cater to more budget-conscious consumers. Additionally, investing in marketing and promotions to highlight value for money can help maintain sales. 2. **Increased Operating Costs**: The cost of raw materials, energy, and transportation has surged, impacting businesses' profitability. In a survey by the British Chambers of Commerce (BCC), 70% of UK firms reported increased costs due to inflation. To mitigate these challenges, companies should explore cost-saving measures like improving supply chain efficiency and negotiating better deals with suppliers. 3. **Wage Pressure**: As the cost of living rises, employees seek higher wages. The ONS reported a growing wage-inflation gap, with average weekly earnings rising by 6.2% in nominal terms in July 2021. To address this, businesses can consider adopting a more flexible approach to compensation, including performance-based incentives and non-monetary benefits. 4. **Recruitment Strategies**: Given the uncertainty, businesses should adopt a cautious but strategic approach to recruitment. Rather than freezing hiring altogether, they can focus on essential roles that drive growth and innovation. Investing in upskilling and reskilling existing employees can also help meet workforce needs without extensive external recruitment. |
5. **Contract and Temporary Workers**: Hiring contract or temporary workers can provide flexibility in managing labor costs while meeting short-term needs. Businesses can utilize temporary staffing agencies or freelancers for specific projects to maintain agility and minimize long-term commitments.
6. **Remote Work**: With the prevalence of remote work, businesses can tap into a global talent pool, potentially reducing labor costs. Consider recruiting for remote positions when feasible, which can offer both cost savings and access to specialized skills. In conclusion, the impact of inflation on UK businesses is multifaceted, but prudent strategies can help mitigate its effects. Businesses should adapt by focusing on cost-saving measures, innovative recruitment strategies, and a flexible approach to compensation to navigate these challenging economic conditions successfully. If you have any inquiries or require assistance, please don't hesitate to contact us on 01429 363160 or via email at [email protected]. 
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MERRY CHRISTMAS!We would like to thank our partners and candidates for being part of our journey! We wish you all a very Merry Christmas and successful 2023.
Your Heyllo! Team (Our offices will close on 23rd December and reopen on 3rd January 2023) |
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Would you like to know more?Laura our Head of Recruitment would be delighted to discuss your goals and hire needs.
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CREATING AWSOME FOR EMPLOYERS| Heyllo! was created to add value to your businesses, using 40 years of combined experience. |
Be awesome.
We drive special initiatives to support employers and candidates on their journey!
Key numbers
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% increase of weekly earnings
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Open vacancies in June 2021
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% increase in activity pre pandemic
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Data from construction news UK
Merry ChristmasWe would like to thank our partners and candidates for being part of our journey! We wish you all a very Merry Christmas and successful 2022. Your Heyllo! Team Our offices will close on 23rd December and reopen on 4th January 2022. |
Happy New Year!We would like to thank our partners and candidates for being part of our journey! We wish you all a very Happy New Year and a successful 2021. Your Heyllo! Team |
Merry ChristmasWe would like to thank our partners and candidates for being part of our journey! We wish you all a very Merry Christmas and successful 2021. Your Heyllo! Team |
Our offices will close on 18th December and reopen on 4th January 2021.
Services
Hiring an Apprentice
Recruting an Apprentice through Hey Talent is completely free of charge. We work with you to find the best possible match, we will discuss the role with you to understand the needs fo your business, and match the right candiate to the role. We will advertise, match , interview and select before submitting the best of talent with a min of 3 CVs’ to each of your role for you then to interview. You can reply on us to do all the coordination of interviews, sensitively deliver rejections and manage the job offer, then onto the relevant qualification for your new start Apprentice!
The right qualification to meet your needs
Once you appoint an apprentice, we will match you with the provider who will dedicate a trainer assessor to start the learning jouney with your Apprentice. They will work with the using a wide range of contact methods including, zoom, skype, group training and face to face individual session that will take place in the workplace or online. Our trainers will always provdieyou with feedack throughout the journey on the apprentices progress.
How does apprenticeship recruitment work?
An apprentice has the same rights as all your other employees and is subject o the same work regulations. However one major difference Is:
Recruting an Apprentice through Hey Talent is completely free of charge. We work with you to find the best possible match, we will discuss the role with you to understand the needs fo your business, and match the right candiate to the role. We will advertise, match , interview and select before submitting the best of talent with a min of 3 CVs’ to each of your role for you then to interview. You can reply on us to do all the coordination of interviews, sensitively deliver rejections and manage the job offer, then onto the relevant qualification for your new start Apprentice!
The right qualification to meet your needs
Once you appoint an apprentice, we will match you with the provider who will dedicate a trainer assessor to start the learning jouney with your Apprentice. They will work with the using a wide range of contact methods including, zoom, skype, group training and face to face individual session that will take place in the workplace or online. Our trainers will always provdieyou with feedack throughout the journey on the apprentices progress.
How does apprenticeship recruitment work?
An apprentice has the same rights as all your other employees and is subject o the same work regulations. However one major difference Is:
- Apprenticeship pay rates start from £4.15 per hour, with a min of 30 hour per week.
- The age of an apprentice will determine the pay rate: 16 years (£4.15 in their first year), 17-18 (£4.55), 18-20 (£6.45), 21+ (£8.20).
- The initial contract for an apprentice is one year
- We encourage you to offer a potential apprentice a trial for 2/3 days before making a formal offer.
- Having a fresh approach to building your talent - Recruit an Apprentice - it’s like a blank canvas, waiting for their strengths and talents to be discovered and utilised for the good of your business.
HEY! LLO
HOW CAN WE CAN HELP?
HOW CAN WE CAN HELP?
Hey Talent Recruitment Team can support you with your talent needs in the following areas:
Construction / Financial / Health Care / Executive Search / Hospitality / Commercial / Automation / Industrial / Technical and Engineering / Sales / HR / Marketing / Call Centre / Operations
Have you been impacted?
Covid-19 support
COURSES
Select a category and explore courses
Health & social care
We can help the healthcare sector. Just click on any of the links below and explore our courses.
health & safety
Food
Business skills
