21 Nov, 2012

Private sector pay expected to exceed public sector by 2016

Research released today by the Centre for Economics and Business Research (CEBR) and totaljobs.com outline that in spite of cuts, over 1.5 million public sector vacancies will need to be filled by 2017, with over half a million experienced, managerial hires required. However, with private sector pay expected to exceed that of the public sector by 2016, the research recommends that these organisations will need to think and act more like a brand to attract future talent.

  • Lack of public sector leaders despite appetite amongst graduates to join the sector
  • 54{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} of Public Sector hiring managers state ‘poor perception’ is a key barrier in attracting talent

Entitled ‘Bridging the Gap: Developing a framework to attract new talent into the Public Sector’, the report details that 54{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} of public sector hiring managers state that poor perception of the sector is a key barrier in attracting talent. With 70{6060b2de664e4eaa3e7b7e86961ce2c4bbd7a29b6c1097abf8257a4e5b07383e} believing that a lack of new talent applying for roles is hindering efficiency in their organisation, a dearth of future public sector leaders is predicted in the next five years, adding another challenge to the implementation of the reforms instigated by central government.

With other benefits such as pensions continuing to be brought in line with the private sector, organisations will need to address how their ‘employer brand’ is perceived by potential recruits.

However, the report outlines that graduates, an important future talent pipeline for the public sector, see job prospects and training opportunities as the most attractive aspects of a career in the public sector. It’s clear that to attract public sector leaders of the future, organisations need to shift focus away from pay if they are to compete for top graduate talent of the future, with schemes such as Teach First held up as examples to follow.

Credit: onrec.com



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