The world of work is changing faster than I can ever remember. In some cases, it’s “back to the future” in that we’re seeing a return to offices or increased attendance expected. It’s been reported that two early adopters of flexible working (Lloyds and Finncap) are asking teams to be in the office more frequently. This ties in with what we’re seeing. Each firm is different, and there are some that expect colleagues in the office full time, but most are now expecting colleagues in the office at least three days a week. There is a spirit of flexibility still, but also a recognition that teams work best when they have some face-to-face time.

The last couple of weeks has also given us some insights into the other moving parts of the work ecosystem. Our own survey of 289 respondees confirmed that 78% of people haven’t had a pay rise that has kept up with inflation. 74% had seen no improvement in their benefits package since the pandemic either. Our established business focuses on permanent hires in key functions across financial services. It wasn’t uncommon for us to see clients offer 40%-50% uplifts last summer, but the mood has very much changed since then with offers, whilst improving on a candidate’s current salary, not being quite as punchy.

Some of the listed recruitment firms have also published their results, which on the whole were strong. Temp hiring has made up for a fall back in permanent hiring, which shows that there’s some uncertainty out there, but unemployment is still at historically very low levels, and our view (and it seems the general consensus of the recruitment industry) is that perm hiring will pick up in the second half of the year helped by inflation falling back. In the interim, though, candidates may need to ensure that they are fully prepared for interviews. Whilst there is still a shortage of workers across most economies, my experience is that clients expect far more from candidates when hiring is perceived to be weaker. Sometimes this isn’t an accurate expectation, and can lead them to hold out for skillsets that don’t exist, but applicants must be aware of this and there is no excuse for not being prepared. Whilst the UK has had a long romance with the gifted amateur, who in this case just turns up to an interview and through charm and wit secures the role, the reality is that interview preparation, like many things in life, has professionalised. You can be sure that the competition will be working hard to understand as much as they can about a potential employer, interviewer, and role. In the age of the internet, and the transparency this brings, there aren’t many excuses for not being prepared if you’re serious about securing a particular role. We have a number of resources on our website on this and many other work-related topics, which I hope helps.

What else is on my mind as someone who is focused on talent and employment? Well, in short, it’s the image of the UK. I am unashamedly always bullish on the prospects of the UK. However, we no doubt live in a competitive world, and extremely competitive region, and I think the image of UK Plc has been damaged of late. Thinking about talent, I am very concerned that “brain drain” caused by the high levels of taxation we have in the UK and the high housing costs. Dubai in my view is the likely winner and we’re already starting to see a flurry of articles about why it’s a great place to live and work. It won’t be for everyone, but it could be for many – particularly in the age of the influencer. Photographs of luxury and good weather, coupled with messages of low tax will resonate with many, but of course Dubai isn’t the only place talented people can go to. I also think that the image of UK Plc has been damaged by the high-profile allegations of bullying and misconduct (some of which are subject to investigation and are contested). Whatever the outcome, the UK needs to be seen both internally and externally as a great place to live and work, and the government needs to work tirelessly in achieving this and to align its tax policies accordingly.

Over the coming months, we aim to host a number of work-related roundtables and workshops for executives and HR professionals to ensure that best practice is shared in a confidential and informal setting. Please do register your interest for events with my colleague, Fiona Wallace, at: [email protected] We hope that they will be excellent forums for learning and also for networking with peers.

I hope that you enjoy the many bank holidays we have in May, and spend time with loved ones doing non-work related things.