As recruiting new talent becomes increasingly challenging, staff retention has become vital for UK organisations. Despite a 4.5% drop in job vacancies since Q4 2023, the UK still faces over 900,000 open positions, with significant shortages in business administration, support roles, and middle management.
These roles are essential across all industries, yet they are part of the national recruitment challenge due to high turnover rates and widespread job dissatisfaction. While many businesses are focusing on continuous recruitment, this strategy is often just maintaining the status quo. In this environment, retaining existing staff is more crucial than ever, with competitive pay playing a key role in employee satisfaction and retention.
Our 2024 Brook Street Business Professionals Salary Guide provides the essential market insights you need to conduct effective pay reviews. By using this guide, you can reward top performers, maintain clear financial distinctions between roles and create incentives that encourage your employees to stay and grow within your organisation.
