Investment, innovation and growth: The ultimate win-win for job creation

We all know that unemployment is an issue that needs to be tackled with immediacy. After all, taking a paid job is the single most effective way for individuals to move out of poverty. Therefore, in principle, job creation can only be a wildly positive thing. More jobs equals more money in the economy, and a healthier economy is good for business, creating a cycle of positivity and prosperity. If only it were that simple…

Can we afford more staff?

When it comes to job creation, there are countless obstacles to navigate around, not least the financial impact. With the national minimum wage and the national living wage both rocketing skywards, the cost to add any personnel, particularly at a time when the general cost to do business is soaring in every way, poses a challenge. Businesses are having to absorb additional costs rather than pass them onto cash-strapped consumers, and as a result, the bottom line suffers. Yes, we need people, but the question is, can we afford them?

Is there a solution? Well, yes. While I understand the government’s focus on increasing wages across the board, I implore them to take their time and consider the downsides as well as the obvious benefits. From an overhaul of business rates and the taxation system, there has to be some support or recognition for businesses determined to invest and innovate.

The more we can invest in our future, the more we can create jobs – it’s the ultimate win-win. How can we be supported so that as business owners, we don’t have to strip back to the bare bones simply to keep the lights turned on and the doors open?

Growth strategy and challenges

There is also the red tape to consider. It’s hard to establish and deliver a growth strategy with regulations introduced with alarming regularity, only to be withdrawn or forgotten further down the line. And, specifically for recruitment, the impact of Brexit still lingers, affecting our ability to recruit workers for all kinds of roles. 

Money and regulation aside, we also have to ask if we are attracting and hiring the right people. The fact is, times have changed as job hunters arm themselves with a list of requests for would-be employers, which can put businesses such as ours at a distinct disadvantage. We are a seven-day-a-week business, operating during unsociable hours which isn’t for everyone.

While we, as a long-established family-run business, pride ourselves on creating a great place to work where employees enjoy fair pay, good working conditions, opportunities for progression and an inclusive, supportive environment in which to thrive, we can still be overlooked in favour of companies offering hybrid or at-home working, bring-your-pet-to-work days or other appealing ‘benefits’.

Any employee or no employee?

So what can we learn about job creation? I mean, is any job better than no job? On a purely transactional level, maybe. But deep down? We can ask the question a different way: is any employee better than no employee? As an employer, I can categorically say no.

We all know that skills can be taught but the right attitude and an enthusiasm to learn and embrace new challenges is truly invaluable. Perhaps this has to be the starting point when we consider job creation. Perhaps as businesses looking to grow, we need to focus less on the job details and deliverables, and more on the type of people we want to be working alongside, supporting our growth.