UK companies still optimistic about job creations, despite challenges

UK companies are still optimistic about their prospects to generate jobs in the short-term, building on the UK’s record labour market performance, data published in the latest CBI/Pertemps network group employment trends survey has been able to suggest.

The annual survey found that 51 per cent of firms across the UK will grow their workforce in the year ahead, with confidence highest amongst small and mid-sized firms (58 per cent). And 93 per cent of respondents reported that a diverse and inclusive workforce is important to the future success of their organisation – up on 76 per cent in 2016.

But the survey, carried out between August and October 2017, warns that delivering further jobs growth depends on businesses being confident they can remain competitive if they choose to base staff in the UK. Nearly two thirds (63per cent) currently believe that changes in the UK labour market will contribute to Britain becoming a less attractive place to invest and do business over the next five years – up from 50per cent last year and 25per cent in 2015.

Skills gaps were found to be the single most prominent worry facing firms, with nearly four in five (79per cent) respondents highlighting this as a concern – up from 64per cent in 2016. Access to overseas workers is a big contributor to this, with nearly half of respondents (49per cent) identifying uncertain access to labour supply – up from 35per cent in 2016.

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