KD Recruitment, one of Yorkshire\u2019s leading recruitment companies, has spoken out about the \u2018cost of living\u2019 announcements made today (8th September) by Prime Minster Liz Truss.<\/p>\n
Plans announced today include the introduction of a six-month cap on business energy bills which will be reviewed after six months.<\/p>\n
It is hoped the scheme will, along with interventions announced for domestic energy bills, help curb inflation by around 5 per cent.<\/p>\n
KD Recruitment\u2019s founder, Kelly Dunn said: \u201cAnyone who runs a business in the Yorkshire and Humber region is feeling the ongoing impact of rising costs coupled with the challenge of recruiting and retaining staff in a world that is still reeling from the effects of the Pandemic. Here in the UK, we are also adjusting to Post-Brexit Britain which has brought its own issues.<\/p>\n
\u201cBusinesses have seen costs increase exponentially in many areas, from their raw materials and energy costs to their insurance premiums, and this has been across all sectors within the region. It\u2019s a perfect storm and is a very worrying time for employers as well as their staff.\u201d<\/p>\n
While the eagerly awaited plan will help to address some business concerns, other obstacles are still prominent including the new electronic ID verification system and IR35.<\/p>\n
Kelly revealed: \u201cTwo thirds of employees are saying that a salary increase is their main priority at the moment, while employers are stills struggling to recruit and retain their staff. It is very easy to fall into the trap of retaining employees who are not as engaged, which can reduce their productivity by around 20%.<\/p>\n
\u201cThose employees who feel valued can add over 20% to productivity levels to your business.\u00a0You can focus on improving employee engagement by communicating regularly and showing that your staff feel valued. A good way to start the conversation is to ask how they are feeling at the moment with the current cost of living crisis going on? Is there something relatively low cost that could be introduced, such as a free fruit bowl on employee\u2019s desks or breakfast rolls to support everyone, but especially those employees who can\u2019t afford to heat their homes and feed themselves at the moment and are turning to food banks.<\/p>\n
\u201cWhile it is anticipated that one in five of employees will be job hunting by this time next year, some smaller steps now to show you care, might help retain your staff when you need it most.<\/p>\n
\u201cOther government measures that Liz Truss has confirmed already is the reversal of the National Insurance hike for businesses, the introduction of a new law regarding minimum staffing levels during strike action\u00a0and another look at IR35 which affects contractors. These will affect all employers as they will mean a change in policies to grapple with over the coming weeks and months.<\/p>\n
\u201cHowever, today\u2019s announcement is broadly welcomed and while not a cure-all, it will alleviate some of worries for our workforce as a whole.\u201d<\/p>\n