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CIPD: Firms should take advantage of growing talent pool

The growing number of redundancies means that the employment market in the UK is increasing and the talent pool is getting bigger, it has been claimed.

According to the Chartered Institute of Personnel and Development (CIPD), this is good news for businesses because it means they have more choice and a broader range of talent from which to select employees.

Vanessa Robinson, head of human resources practice development at the organisation, explained that this does not mean workers are easily replaceable and undervalued.

However, firms should not miss the opportunity to "have the resources and staff that they think will contribute the best in these particular circumstances".

Badenoch and Clark's most recent employment study has shown that employees in the finance sector feel the most undervalued and 22 per cent of banking professionals regard themselves as being easily replaceable.