HIRING INTENTIONS are set to hit record levels in the coming months, as as strong business sentiment and growth plans lay a foundation for increasing staff numbers.
The latest Business trends Report by BDO has found its hiring intention index at 107.7 in May, up from 105.6 in April. This is just below the index's peak of 108.9 in February 2007, with that figure set to be eclipsed in coming months. The survey has been run for 22 years.
However, there are concerns that a skills shortage will develop in certain sectors, with BDO citing strong growth plans in manufacturing as an example of an area that might struggle to meet its own expectations.
Peter Hemington, partner, BDO, said: "UK businesses are translating their confidence in economic recovery into action, demonstrated by the sustained increase in hiring expectations. But a gap between supply and demand for skilled workers is developing, which could take the momentum out of the recovery."
You may also like
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.