Retention | Redundancies drop to record low as firms struggle to keep staff

Redundancies have fallen to a record low as companies fight to hold on to their staff – the Telegraph reports.

ONS statistics reveal that 83,000 people were made redundant in the three months to October 2018, the smallest level since the Office for National Statistics began counting in 1995.

One possible explanation is that companies are struggling to recruit people given the very low rate of unemployment, so they are hanging on to as many staff as possible.

“It is no longer quick and easy [to hire], it is really hard to find staff, therefore one of the reactions is to keep hold of the people you have got,” said Tom Hadley, ­Director of policy at the Recruitment and Employment Confederation, to the Telegraph.