UK wages are growing at a record rate, but employers are not openly disclosing these increases to job candidates.
Only 51.5% of UK job ads in April 2023 included salary information, a drop of nearly 10% compared to the previous year.
Sectors with labor shortages, such as retail and professional/technical industries, were the least transparent about pay in job ads.
Pay transparency is important for long-term employee motivation and creating a fairer work environment.
Employers struggle to recruit competitively while managing budget constraints, leading to the omission of salary information in job ads.
Including salary information in job advertisements can attract six times more applications on average, according to data from job search engine Adzuna.
73% of consumers globally trust content created by generative AI, according to a study by Capgemini Research Institute.
Generative AI is trusted for financial planning, medical diagnosis, and relationship advice by consumers.
Adoption of generative AI tools has been consistent across age groups and geographies, including Baby Boomers.
Consumers are most satisfied with generative AI use cases like chatbots, gaming, and search, but also use it for personal day-to-day activities.
Consumer awareness of the ethical concerns and misuse of generative AI is low, highlighting the need for education and safeguards in the industry.
Based on this survey, utilising generative AI tools in recruitment processes can enhance candidate experiences, streamline workflows, and improve hiring outcomes.
A new Edelman Trust Barometer study reveals that Gen Z consumers have a different approach to brands compared to other demographics.
Gen Z's relationship with brands often begins at the point of purchase, challenging the traditional linear "purchase funnel" model.
Gen Z consumers continue to engage with brands after making a purchase, with 78% of respondents uncovering and discovering things about a brand post-purchase.
Gen Z holds brands accountable for their actions on social issues, with 64% wanting brands to make their values clear during the purchase process.
The new marketing approach for Gen Z is characterized as a continuous loop of engagement, emphasizing constant attraction, interaction, and engagement to deepen the brand relationship.
When targeting Gen Z candidates, it is important for recruiters to understand that their brand relationship often begins at the point of purchase, not before. Engaging with Gen Z applicants requires a continuous loop of attraction, interaction, and engagement throughout the hiring process to deepen their interest and connection with the organisation.
The number of micro-businesses (0-9 employees) in the UK has grown consistently over the past decade, while medium and large businesses have plateaued.
In 2022, the number of micro and small businesses reached 1.4 million, an increase of 31,000 compared to the previous year.
Smaller businesses, especially those with 10 or fewer employees, are less optimistic about their future performance compared to medium and large businesses.
Retailers, despite being the sector with the largest turnover and employing the most people, reported one of the lowest levels of performance increase in the year up to April 2023.
Mastercard is hosting Thrive Street, a pop-up high street in Manchester, to support small businesses by providing free retail space, masterclasses, and access to training and advice through their Strive UK program.
The consistent growth of micro businesses in the UK over the past decade indicates a thriving entrepreneurial landscape, making it an opportune time for hiring managers to tap into this pool of talent and consider the potential of small business professionals for their organisations.
A report by SaveMoneyCutCarbon reveals that 19% of UK employees refuse to join a company that doesn't prioritize sustainability.
Only 18% of respondents state that sustainability is central to training processes at their workplace.
Deloitte's survey indicates that 60% of respondents are willing to pay more for sustainable products and services at work.
SaveMoneyCutCarbon's EcoWise program offers a year-long course for employees and business owners to lower their carbon output and gain rewards.
14% of employees feel their co-workers and managers don't address sustainability, leading them to take matters into their own hands or even switch jobs.
Incorporating sustainability practices and prioritizing environmental goals in your company's culture can attract and retain top talent, as 19% of UK employees refuse to join a business that does not prioritise sustainability. By showcasing your commitment to sustainability, you can enhance your recruitment efforts and build a workforce aligned with the values of environmental responsibility.
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