The new Financial Year means a time to reset and develop a new hiring strategy. It also triggers bonuses for many employees which could act as a pull or push factor depending on the bonus amount and if it is line with employee expectations. Resulting in an increase of resignations and pressure on talent acquisition resources.
At our latest Banking on the Future event, one of our speakers reported a 100% surge in activity year-on-year. Additionally, the ONS reported Real Estate job vacancies have increased by 28% quarter-on-quarter, higher than any other industry, and in contrast to the series of quarterly falls in overall vacancy numbers which continued in January to March 2024, falling for the 21st consecutive period.
This heightened activity in Real Estate is likely to be fueled by the drop of interest rates which builds confidence amongst buyers in the market. The demand for property is on the rise, and subsequently so is the need for workers.
According to PWC, Nearly 40% of global CEOs believed their companies would no longer be viable in ten years’ time if they continued on their current path; additionally, CEOs expect more pressure over the next three years than they experienced over the previous five from technology, climate change and nearly every other megatrend affecting global business.
Resulting in finance teams having greater pressure to invest in technological innovation (mainly AI). Whilst AI has been around for a significant amount of years only right now are we beginning to use it as an integral tool for business.
However, to capitalise on today’s market conditions, your biggest value-add is your people. Working on your people strategy simultaneously to tech advancements will ensure AI is integrated with an efficient process, rather than a people system which isn’t refined for ultimate productivity.
Tech can and will continue to aid performance, but there is a prevalent need for right people (at all levels) to achieve a high performing culture which is reactive of today’s market demands.
Controlled outsourcing is a solution which will enable your business to develop AI over the next 5 years, whilst managing attrition, recruitment spend and resources, and employee satisfaction.
