According
to the CBI’s
latest report, confidence is growing in the business and professional
services sector. With optimism in the market at its fastest pace for more than
15 years, there are many reasons to be upbeat.
However,
the buoyancy of the sector comes at a cost for some employers, who are facing
challenges posed by skills shortages, which are all the more visible when
addressing growth strategies.
While
major firms invest a great deal of time on annual graduate recruitment drives,
there is work to do to ensure retention levels, particularly with increased
market competition.
Commenting
on this, Wayne
Brophy, managing director of specialist procurement, buying, supply chain
and logistics recruitment company, Cast UK, said: “There is more
emphasis on a ‘total reward’ approach nowadays, in the wake of an unsettled
financial period where firms have not been able to commit to salary increases.
The drive to offer attractive benefits is critical and these need to be clearly
communicated to employees.”
Described
in a Government report into sector skills insights as “the oil in the cogs of
the overall machine that is the UK economy” there is no doubting the importance
of business and professional services as a sector. However, to achieve the
growth that is predicted, businesses will need to adapt to change and re-evaluate
team models in many cases.
Wayne
added: “We work with firms to map out their skills requirements by analysing
the market and identifying the impact of major factors such as increased global
competition and technological advances. Only by taking these considerations on
board can businesses really be geared for growth.”
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