Rising labour costs are likely to affect businesses’ ability to attract the skills they need, and businesses are increasingly reporting higher wage bills.However, whether they’ll be able to find and keep the staff they need remains to be seen. Almost half of UK firms (45%) are planning to pump money in recruitment and retention over the coming 12 months. Against this backdrop, recruitment and retention is now the number one priority for business investment.7 in 10 businesses regard their ability to attract skilled staff as crucial to determining whether they’ll grow over the next three years.The introduction of flexible working (because of the pandemic) is the change that businesses are most likely to make permanent (42% of respondents).īusinesses also tell us that a dramatic shortage of skilled staff is the biggest threat to UK businesses’ growth ambitions.
Research carried out by Santander in 2021 found that: For businesses of all sizes and sectors, the world of work has dramatically changed since the start of 2020.
