By Will Young, Director
It’s no exaggeration to say that the end of 2024, first half of 2025 has been an economically uncertain period. While November 2024’s total employment figures hit the headlines for showing the largest decrease in employees in Northern Ireland since August 2020, December’s figures showed an upturn from 803,000 to over 806,000. Add into that the effect of National Living and Minimum Wage and National Insurance contribution increases and the unstable environment created by global tariffs, and it has been a difficult environment to navigate for employers of every type.
In an increasingly challenging labour market, a compelling employee value proposition has become a cornerstone for attracting, engaging and retaining talent, and for building truly great places to work. Redundancy concerns, weakening demand for temporary roles, and declining starting salaries are unsettling both employers and employees. As business costs continue to rise, employer confidence is unlikely to bounce back quickly.
Against this backdrop, the role of HR has never been more pivotal. HR must take proactive steps to ease internal anxiety, build resilience, and foster a sense of stability. This can be achieved by listening closely to employee feedback, implementing development initiatives, and creating inclusive cultures where individuals feel a sense of belonging, rooted in mutual respect and ethical values.
At the heart of this strategy is a strong employee value proposition. Far more than a list of perks, a compelling value proposition represents the total employee experience: career development opportunities, company culture, work-life balance, and wellbeing support. It is an employer’s promise to its people in return for their skills, experience, and commitment. A true signal of trust and shared purpose.
In today’s multigenerational workforce, each with its own set of values and expectations, a one-size-fits-all approach is no longer sufficient. Generation Z may seek flexibility and purpose; Millennials may prioritise growth and mobility; and Baby Boomers and Generation X may value stability, recognition, and comprehensive benefits. A thoughtfully crafted employee value proposition can bridge these generational divides, fostering a culture of connection and shared mission in a diverse workforce.
When HR leads with clarity, consistency, and a people-first approach, employees are better equipped to focus on their growth and contribution, despite external economic headwinds. A workplace where employees feel seen, heard, and invested in is not only more resilient, but also more productive and innovative.
Ultimately, in an uncertain, challenging and often crowded market, a strong employee value proposition is a differentiator. It helps organisations become employers of choice, and more importantly, it lays the foundation for workplaces where people want to stay, thrive and grow.
The organisations that prioritise their people – through meaningful engagement, development, and an authentic employee value proposition – will not just weather the storm. They will emerge stronger, more united, and ready for the future.
To discuss any aspect, please contact Will Young Consulting Director E: willyoung@bakertillymm.co.uk T: 028 9032 3466
This article first appeared in The Irish News on 10th June 2025.