Chantelle O'Sullivan’s Post

The True Cost of Undervaluing Talent: A Lesson in Business Economics This week, I encountered a situation that highlights a common misconception in business: the false economy of underpaying for skilled work. A successful business owner reached out about an open role: • 5-10 hours/month • $10/hour • 1099 contract • Stringent deadlines • Medical billing expertise required When asked if I saw any red flags, I couldn't help but think, "Where do I begin?" Breaking it down: 1. $50-$100 monthly for specialized work in a notoriously complex field. 2. The commitment-to-payoff ratio is severely imbalanced. 3. 1099 status saves on compliance costs for the employer but adds burden to the contractor. My advice: Reinvest the savings from the 1099 arrangement into a more competitive pay rate. This increases the odds of finding and retaining qualified talent, avoiding the costly cycle of constant rehiring. Remember: Cutting corners on compensation effectively cuts the legs out from under your business. It's time we stop seeing every line on the balance sheet as a cost to minimize, and instead view it as an investment in those who drive our success. How are you ensuring fair compensation in your business? Let's discuss the long-term benefits of valuing talent. #BusinessStrategy #FairCompensation #TalentRetention

Are there steady jobs in the informal sector? Absolutely! Over 80% of informal businesses have managed to keep their teams intact for the past two years. Get the full insight in our Informal Sector Report with link: jobbermanreport.com #JobbermanNigeria #JBNInformalSectorReport #NigerianInformalSector #JobStability #InformalEconomy #ResilientBusiness #NigeriaJobs

💼 Job market and economic growth: What the 2024 Budget really needs to deliver 📊 Our latest blog explores what the upcoming Budget needs to deliver for job market growth. Here are some key areas to watch: 🎓 Investment in skills and training 💰 Tax incentives for businesses 🏗️ Infrastructure development 🌱 Support for SMEs and green jobs 💻 Digital transformation incentives 🏙️ Regional growth initiatives These measures could create exciting opportunities for recruiters across various sectors! Want to understand how the Budget might impact your agency? Read "Job market and economic growth: What the 2024 Budget really needs to deliver" on our blog. #Budget2024 #JobMarket #EconomicGrowth #RecruitmentInsights #SkillsDevelopment #BusinessGrowth #ETZSoftware

The widening skills gap in financial services is continuing to cause problems for the industry with eight in ten describing the situation as ‘challenging’. The overall outlook for the sector is less than positive with hiring managers citing a lack of candidates with the appropriate skills to fill key roles within the industry. Employers say they are fighting for the limited amount of talent available to fill the high-demand technology and specialised finance roles. This article expresses the importance of collaboration between financial organisations and specialist providers to source, train, and equip the next generation of talent. If you need help finding the right people for the right role, we at Robert Cavendish are here to help. Contact us today to arrange a call. https://lnkd.in/erjftT5J #SkillsGap #RecruitmentChallenges #FinancialServicesIndustry

Price of a Service vs Cost (This a slightly longer post) These are two very different considerations one needs to make when weighing up one's options, and the distinction is important. In today's economy it's tempting to simply pick the cheapest option (the lowest price). Unfortunately, the compromise in quality and service value could cost a lot more. For business owners and executives, the decision needs to be based on more than a number. When it comes to tangible products, quality can be felt and tested before making a decision. For services, this is more difficult. So how does one make an informed decision (feel the quality) not solely based on the price of the sevice? 1. Listen to what the service entails and pre-empt possible needs. The service may offer more than you need at the moment but what is the price you put on peace of mind? 2. Read the SLA and take note of stipulated turnaround times, service offerings, additional costs etc. Is the current price low because there are possible future charges or is the price a little higher but with a more comprehensive service? 3. Note any guarantees within the agreement. Guarantees provide you with recourse if it's ever needed and illustrates that the service provider has confidence in its abilities. They put their money where their mouth is. 4. Ask for a reference from, or contact number of, a client in the same industry. 5. Ask questions. It's always beneficial for both parties to set expectations. Choose a service that provides value rather than paying less for something that will cost you more in the long run. Because your business deserves the best opportunities for success and growth. LabourNet offers unrivaled compliance solutions with degreed, specialist consultants in the different HR spheres, to industries across South Africa.

The government sector’s gains in June were above its average monthly gain of 49,000 over the last 12 months. The public sector has played an ever-increasing role in buoying jobs gains as the government sector has now risen to its highest share of total employment since the end of 2021. https://hubs.ly/Q02KhrW20

Jam tomorrow: Today's joint report from REC and KPMG shows an accelerated decline of people placed in permanent positions by UK recruitment firms. Respondents continued to feel that the UK government Budget in late October was increasing uncertainty in business confidence. However, with market expectations for further rate cuts in 2025 and government investment plans, future prospects point to improvements.

The UK's 2024 budget spells good news for SMB recruitment firms! 🌟 Increased funding for training, skills development, and tax reliefs mean better-qualified candidates and reinvestment in growth. The focus on high-demand sectors like tech, green energy, and healthcare offers new opportunities for specialization. Incentives for digital adoption, flexible work, and prompt payments enhance cash flow, positioning recruitment SMBs to expand services and thrive in the UK's high-growth sectors. 🚀 #UKBudget2024 #Recruitment #SMBs #HighGrowthSectors

A pause on hiring 🛑 https://lnkd.in/e3eN49KE This definitely aligns to what I hear when talking to business owners. It highlights the need to focus on the people and skills you have. A couple of key things to do: - Look after your people! I don't mean give youself a pat on the back for giving them the minimum holiday allowance. I mean REALLY look after them and their wellbeing - Look at your skills gaps and where you can bridge them - Have a plan for if you can secure funding, what roles do you NEED to sustain or move into success If you need help on any of this, drop me an email lucinda@ravellohr.co.uk. None of this is lengthy, you can get some real quick wins.

Follow for more updates: https://lnkd.in/gZT3Q26u Top Occupations for salary Hikes in Canada 2025 ✅ IT Sector Growth: Cloud architects and cybersecurity experts are seeing up to 10% salary hikes, with high demand for skilled professionals. ✅ Digital Marketing Surge: Salaries for digital marketers rising 9%, driven by the growing importance of SEO, social media, and influencer marketing. ✅ Finance Sector Stability: Compensation analysts and accountants witnessing a steady 7% pay increase, emphasizing certifications like CFA and CPA ✅ HR Salary Boost: Senior HR roles focusing on diversity management see 12% growth, making it a lucrative field for professionals with certifications like CHRP. ✅ Automation's Future: Automation technicians and electromechanics experience 8% salary hikes as Canada invests in robotics and advanced technologies. To know more click here: https://lnkd.in/gAxnaJk6 #ITCareers #CanadaJobs #FinanceJobs #WaveVisas