PRCA FD Forum: Effectively retaining talent and recruiting in a competitive market

A study reported by the BBC found 38% of workers in the UK are looking to change careers in the next six months with the cost due to the expected number of resignations estimated at £16.9 billion. With over 800,000 vacancies in the UK currently and factors such as rapid economic recovery, a radical overhaul in working practices and a wholesale adjustment in attitude to work-life balance in the mix, the talent war is on – and it’s more competitive than ever.

Retaining talent is proven to be the most cost-effective solution and there are many angles to explore for the media industry. A recent Forbes review suggests that the real cost of replacing employees is more than 1.5 times salary and over two times at C-suite level. For growing businesses, recruiting for new positions in this environment gives candidates more negotiating power and having a strong proposition is just as important.

Our Media Partner, Esther Carder and HR Consultant, Jessica Wallace discuss the challenges in the sector and how to align your talent retention and recruiting practices to ensure you have the talent your business needs to thrive.
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