There’s a budget coming. ‘Yay!’ Shouts everyone. Or not.
As we approach the unveiling of the UK government's budget this October, everyone will doubtless be wondering what it will mean for the world of fresh produce. From our perspective, what impact will it have on recruitment and overall market confidence?
We all make budgets in our respective businesses, and we know that they are more than just numbers on a page. We ensure that the numbers add up and we’re hopefully factoring in some aspirations for growth.
Sometimes that growth comes organically and steadily by doing the little things well and sometimes it comes from winning new business.
This budget promises to be especially significant—and possibly ‘painful’—according to Sir Keir.
I can testify from a twenty-year career listening to clients and candidates who often share their woes, that there’s always some new drama to contend with. Our monthly Executive Dinners serve as a safe space for some cathartic releases and I think that our guests are always comforted to hear that most companies experience similar fears and challenges.
What I can say with confidence, is that the products and people we work with have always excelled in their resilience and abilities to overcome a challenge. Having worked in other sectors (albeit a long time ago), I love that we work with core products that find their place at the heart of a healthy diet and the family home. No matter the ups and downs in the wider market, people want to eat fruit and veg. To what extent most of us can influence the Chancellor of the Exchequer’s blueprint for how the government will manage its finances, deciding how much to spend on public services like healthcare, education, and defence, and how much to collect in taxes, is likely minimal.
What we can do is stick to what we know and ensure that we don’t talk ourselves into a negative space. We’ve been there before with other doom-mongering and self-fulfilling prophecies so watch out for that.
Remembering back to the impact of Covid in March, April, May 2020, we (understandably) saw a reduction in confidence. Uncertainty became the word most often uttered and priorities were triaged to ensure business survival. At MorePeople we saw vacancy numbers drop off as hiring became a small issue. What soon followed was a resurgence in confidence as lots of businesses spotted opportunities and realised that their hiring plans were still valid. The months and years that followed were pretty buoyant for recruitment (set against the backdrop of the usual ‘shortage of talent’ we all experience when hiring).
When it comes to recruitment, in any market, but particularly one so important to the nation and with a shortage of candidates, it’s vital that it remains a priority. It costs nothing to meet a candidate and, more often than not, it costs nothing to have a conversation with a recruiter about any potential issues, gaps, succession or general fears. Be honest with them though. Share your recruitment plans with your recruitment partner. Be open about the realities of hires being made. No one wants to waste anyone’s time, and we’ve all got company and personal brands to maintain.
All roles aren’t created equal. Some are urgent and very ‘real’, and some are more speculative ‘nice-to-haves’. That’s fine. We can help with them all.
Bear in mind that recruitment processes take time. As you read this, we already have candidates placed and waiting to start in roles in January and February. I think that we work pretty quickly if I’m honest, and whilst some recruitment processes can turn around in a week, most take much longer. Added to that you have the notice periods that candidates have to serve.
I’m no economist (it will surprise you to learn), but I suspect that even the most ardent economic seer will struggle to commit to an opinion without a crystal ball.
We can expect that those with the broadest shoulders will bear the heavier burden – I think this will mean all of us and the companies we work for.
Some taxes somewhere will go up – plugging economic black holes requires it doesn’t it?
Now, I’m not suggesting that, whilst trying to stimulate economic growth, we overlook the reality of a post-pandemic recovery or the cost-of-living crisis or our climate commitments. Nor am I directly comparing the challenges of a budget being as significant as the Covid pandemic. What I do think is that we maintain our usual stoicism, keep calm, and carry on.
