Understanding the CIPD Survey Insights | Consensus HR in Herts & Beds
In today’s rapidly evolving business landscape, staying ahead means adapting to change. The latest CIPD quarterly Labour Market Outlook for Winter 2024/25 has sent a strong message: one in four employers are planning redundancies within the next three months. This marks the highest level of redundancy intentions in a decade—outside of the pandemic—and signals that many businesses are rethinking their strategies as employment costs continue to soar
Understanding the CIPD Survey Insights:
The recent CIPD report highlights several key trends that are reshaping the business environment:
- Rising Redundancy Intentions:
- One in four employers (25%) are planning redundancies in the next three months, with private sector expectations rising from 22% to 27%.
- Falling Net Employment Balance:
The gap between employers expecting staff increases and those anticipating decreases has seen its sharpest decline on record outside of the pandemic. - Increasing Employment Costs:
Two in five employers are bracing for significant cost increases due to budget measures, such as the National Insurance Contributions rate increase and adjustments to the lower secondary threshold. - Sector-Specific Impact:
Industries like retail and hospitality—sectors that employ large numbers of people—are especially vulnerable to these rising costs. Peter Cheese, Chief Executive of the CIPD, noted these as the most significant downward shifts in employer sentiment seen in the last 10 years (outside of the pandemic).
What This Means for Your Business:
The implications of the CIPD survey are clear:
- Cost Pressures:
With 42% of affected employers planning to raise prices and 32% aiming to reduce their workforce, managing operational costs is more critical than ever. - Strategic Adaptation:
To remain competitive, businesses must reassess their staffing strategies, streamline operations, and invest wisely in growth and training. - Future-Proofing Operations:
Now is the time to implement solutions that not only mitigate cost increases but also drive efficiency and enable sustainable growth.
How Consensus HR Can Help:
At Consensus HR, we’re dedicated to turning these challenges into opportunities. Our innovative solutions are designed to help you navigate today’s uncertain market by:
- Streamlining Operations:
Our state-of-the-art HR and business management tools help you optimise staffing and reduce unnecessary overhead. - Expert Strategic Guidance:
Leverage our expert advice to manage rising employment costs, adjust your pricing strategies, and plan for a resilient future. - Empowering Growth:
With tailored solutions that align with your business goals, we ensure you’re not just surviving—but thriving—in a competitive landscape.
A Message from Our Owner, Matthew Chilcott:
“The recent CIPD survey is a wake-up call for businesses across all sectors. At Consensus HR, we see every challenge as an opportunity to innovate. We are committed to helping our clients manage rising employment costs and navigate redundancy decisions with confidence. By leveraging our expert solutions and strategic insights, businesses can not only adapt to these turbulent times but also unlock new avenues for growth and success.”
– Matthew Chilcott, Owner
Take the Next Step Towards Resilience:
The CIPD survey underscores a pivotal moment for businesses: rising redundancy intentions and increasing employment costs require a proactive, strategic response. Consensus HR is here to guide you through these changes, providing the tools and expertise you need to optimise your operations and secure a sustainable future.
Ready to transform challenges into opportunities?
Contact us today to discover how our tailored solutions can help you reduce costs, streamline your workforce, and drive lasting business success.
Connect with Consensus HR:
Stay informed and engaged with the latest industry insights and company updates by following us on social media and visiting our website:
- Website: www.consensushr.com
- LinkedIn: Consensus HR on LinkedIn
- Twitter: @ConsensusHR
- Facebook: Consensus HR on Facebook
- Instagram: @ConsensusHR
Embrace change with confidence and let Consensus HR be your partner in navigating today’s complex business landscape.
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