Grant Thornton: UK businesses single out staffing costs

Grant Thornton’s
International Business Report
has found that staffing costs, rather than raw
material costs, will have the biggest impact on cost pressures on UK companies
over the next 12 months.

Its research revealed that 41% of UK companies felt staffing costs would have
a major impact over the coming 12 months, compared to the rest of the world,
which felt that raw material costs would have the biggest impact.

Only 31% of UK businesses felt raw materials would have a major impact –
ranking it as the third biggest effect over the next year.

Alysoun Stewart, head of
Thornton’s Strategic Services Group
, said: “We know from our own clients and
from other research that the skills shortage we are currently facing is the
biggest constraint to growth, causing upward pressure on labour costs to ensure
the business can attract the best people.’

Further reading:

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