There has been a great deal of doom-mongering recently regarding UK finances, with talk of a recession to rival that of 2008. On the back of an already challenging few years, it is no surprise that businesses and employees are feeling the strain. But is it really as bad as the media might have us believe?
While many experts have agreed that a recession is possible for 2023, this is not necessarily something to panic about. Recessions are a natural part of economic fluctuation and can have different durations and implications. Understanding what is happening and finding strategies to prepare and persevere through a recession are key for businesses and individuals to survive.
In a recent BBC article on a possible recession, experts have claimed that the UK ‘will avoid going into recession in 2023 but the economy is still expected to shrink by 0.2%, according to the Office for Budget Responsibility (OBR)’. However, household incomes are also predicted to fall by 6% in 2023 and 2024, which may lead to difficulties with employment and redundancies.
Whatever the impact of a recession, putting your people first is crucial. While managers should take the lead with implementing suitable strategies, everyone can contribute to a more positive company culture that can help to promote wellbeing, maintain productivity and foster resilience.
At Marmion, our fully trained team are receiving more enquiries than ever before, having just had a record-breaking year and with many exciting new ventures ahead. So while a recession may happen, we remain positive as we look forward towards a promising and prosperous year.
For support with all your recruitment needs, please give us a call on 0113 332 0678 or email us.
At Marmion, we deliver ethical, personalised recruitment services, investing the time to understand each business and individual, and working hard to ensure every introduction is thoughtful and well considered. Our process goes beyond CVs, using tools like i3 profiling to uncover instinctive strengths and align them with the right opportunities.
Every member of our team is a qualified recruitment consultant, committed to their craft and to continuous professional development. This ensures you receive advice grounded in expertise, insight, and current best practice. Whilst we use AI to support parts of our process, every decision about candidate suitability is made through human insight and emotional intelligence. This ensures we recognise great talent that technology alone might overlook whilst avoiding the bias that can come from over-reliance on algorithms.
We endeavour to do what’s right for all parties, through diligence, transparency, and genuine care, offering a clear service guarantee so you always know where you stand.
With Marmion, you gain a dedicated partner who blends skill, integrity, and commitment to deliver recruitment that works for you, today and for the future.
