British Businesses Deciding to Remain Optimistic in the Current Economic Climate

British Businesses Deciding to Remain Optimistic in the Current Economic Climate

It seems that British businesses are deciding to remain optimistic in the current economic climate as it has been revealed that 74% of engineering employers are planning on recruiting this year. There is a skills shortage that currently means recruiting companies are unable to find suitable applicants. 80% of engineering employers have said that the skills shortage is the biggest challenge faced while trying to find new talent.

Hays Engineering has compiled research which includes a survey of 600 engineering employers and employees in the UK. The research was conducted before the referendum in June, but the research also includes a snap poll of more than 150 engineering employers and employees that was carried out in September. The research showed that 93% of organisations expected business to either remain the same or increase this year.

As part of the Hays UK Salary & Recruiting Trends 2017 guide, employers are said to feel relatively reassured in the economic climate right now. However, employees aren’t quite as confident, with 55% planning on moving jobs this year. Just over half, 51%, of professionals in the engineering sector say they are dissatisfied with their pay. Salary is also the top reason for employees wanting to change roles. 33% of those asked cite a lack of future opportunities as a reason for wanting to change jobs.

However, on a positive note, engineering employers are confident that their business activity will actually increase, and nearly three quarters of those employers asked as part of Hays’ Index plan on recruiting a mixture of both permanent and temporary staff in order to expand their workforce.

However, with the engineering sector looking to expand yet 80% of engineering employers saying that there is a shortage in suitable applicants, it is worth wondering where the people needed in order to meet the businesses’ expansion plans. 52% of employers expect competition from other businesses for the applicants, where 53% say that applicants have unrealistic salary expectations.

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