August 2020: Latest update on the labour market

Business people walking to work

ONS figures released this week were not unexpected but stark nonetheless. The UK is officially in recession for the first time in 11 years and sees 730,000 less employees on UK payrolls than the previous quarter.

Commenting on the latest data, INTOO UK and Ireland’s Managing Director Owen Morgan said “It is a period of great uncertainty, with some already losing their jobs and many told their positions are at risk of redundancy. Furthermore, when the economic outlook is pessimistic, even those remaining in work can experience real concerns.

Unless planning and communication from leaders is astutely judged, not only will the economic challenges negatively impact those leaving a business, but those remaining in it too. Without communicating transparently and effectively, the potential lack of focus and productivity from employees who are worried and distracted by industry headlines and company whispers, could derail a business even if market conditions do not.

By getting this communication right, employees will be reassured and less sceptical, able to focus on the core aspects of their role – helping the business perform more effectively and leaving it better placed to overcome the challenges presented by Covid-19.”

Communication during periods of possible redundancy is covered in more detail in our recent guide to change and redundancy which can be downloaded below: 

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