This week, the BBC resported that up to a fifth of the UK’s working-age population was currently out of work. That means around 11 million do not currently have a job.
This staggering number of 11 million people not working is a worrying figure for the government – fewer workers means less tax and less funding for services like the NHS. In fact, Chancellor Jeremy Hunt is polishing a set of measures the government hopes will get more people back into work, or increase their hours at least in order to boost tax revenue.
Although this makes for senible economics, care has to be taken not confuse ‘non-working’ with ‘job seeking’. Recruiters are always talking about how the market is reacting, available candidates and time to filll, but it’s easy to fall into the trap of thinking that the latest figures point to a sudden availability of 20% of Britain’s workforce.
The breakdown
Overwhelmingly, the majority of people in that 20% are students. Making up 2.1 million of that 11 million figure, those currently studying may not be contributing to the economy like a full time worker, but there’s a lot to be said for students seeking temporary, part time or ad hoc work. However, the figures state that this group are marked as ‘not seeking work’, so can be removed from the conversation.
The other big number in that 11 million are those caring for someone else. That could be children or grandchildren, spouses or parents (almost 1.5 million). The other large number is those currently off work sick. This figure reaches over 2 million, with almost 1.8 million saying that their illness means they aren’t looking for a job.
The silver workforce
The first area of conversation lands at the over 50s. 3.5 million over 50s are currently out of work due to illness or early retirement, with the overwhelming majority who have retired early stating they do not wish to return to work.
Several years ago, many businesses (B&Q and Ikea, we’re looking at you) enjoyed great success targeting the over 50s market or even enticing recent retirees back into work part-time or on zero hours contracts. It seems that currently, even a cost of living crisis and a post-pandemic, pre-war economy all haven’t been enough to have a long term effect on the ability of the over 50s to subsist on savings, early pensions then eventually their state and personal pensions.
If your stakeholders are interested in tapping into this market, then the conversation needs to be about how to target the 500,000+ pool of over 50s who are still sharing a CV. Although not tech-first at the higher end of the age bracket, those in their 50s and 60s are certainly spending their time online, reading newspapers and news outlets digitally, browsing and connecting on Facebook and potentially checking the job boards. Don’t instantly think that over 50s won’t be visible online – this misconception could cost recruiters an easy, experienced hire.
The number you really need to be focusing on
When you strip away all the reasons why people are out of work, and deduct those who are studying or completely unable to work, you’re left with a figure of 1.4 million people who are classed as unemployed and actively seeking work.
And that seems like a big number, but in reality, it’s actually quite small, when you compare it to the available workforce. It certainly translates to the common conception that currently, the best workers are still extremely difficult to find, and applications remain low. The candidate is still king or queen.
And this relatively low number of active job seekers, against a much larger number of ‘economically inactive’ people is a stark contrast to the rest of Europe. You could argue that Britain is still suffering from losing a large chunk of its active workforce post-Brexit – or it could result in a conversation what what needs to be done to support those who cannot work to get back into work by providing support elsewhere.
A looming problem for government – and employers
The big concern, and the big picture, is around the scarier elements of economic inactivity.
With childcare costs at their highest ever, parents don’t see the point of working a job just to pay the nursery fees.
Finding care support, never mind paying for it, is so difficult that those caring for ill spouses or children have to rely on benefits, rather than work, to afford the bills.
And those who are sick can be shunned by outdated hiring customs that see people with illnesses or disabilities as too high a risk. Over half of disabled people aren’t in work, with many actively searching. Some have given up on the hope of finding work.
The conversation that could help your hiring managers, clients or recruitment managers, is about helping that huge wider subsection of the population, who want work but cannot afford to give up their other commitments, to get back in work in some form.
From flexible working, better salaries to improved childcare benefits, organsiations have to work harder to accomodate everyone. Better to have someone working a few days week than not at all, should be the mindset. But that’s only half the battle.
Targeting these people in the right places, and telling a story that entices them to hear how they can have the best of both worlds, is the real challenge. A solid employer brand and effective targeting, in the right places, can help with that.
So, instead of bemoaning the candidate shortage that just doesn’t seem to end, maybe it’s time to look beyond the active applicants in your ATS inbox, and go looking in the pool of candidates who may not be the most obvious choice, and who may not be seeing your live roles.
Need to review your targeting? Want to see better results from your job board advertising? Artfully can help you to tap into bigger and better candidate pools for the best possible return on investment. Book a call with us to learn more.
