PracticeConsultingOne in five FDs freeze recruitment

One in five FDs freeze recruitment

The sour outlook for the economy was this week confirmed by UK finance chiefs as more than one in five revealed that their company had a recruitment freeze in place.

Just over 20% of the 251 finance directors responding to this week’s Accountancy Age/ Reed Accountancy Personnel Big Question, said they had some form of ban on hiring new staff in place at the moment. And many pointed to the current economic slowdown and drop in confidence.

One FD, who wished to remain anonymous, said: ‘This is in place, not just for the UK – it’s a global freeze. In some cases it is almost cutting your nose off to spite your face as we are losing money by not recruiting.’

Tony Jones, financial director of Leith Europe, added: ‘(We) have been affected by the American economy. People are worried how long it’s going to take, but are certain it will pick up again.’

But some have only imposed freezes due to company policy, such as not recruiting in the final quarter of the year, while others simply do not need to recruit.

But, more optimistically, 74% of FDs said their companies did not have a recruitment freeze. Ian Rose, FD of Denlon, said: ‘All leavers are being replaced and the headcount is actually going up due to an increase in activity.’

Some complain they have not been able to attract the staff they need. ‘[We have] the opposite problem. It is really difficult to get staff at the moment,’ said Bruce Balicki of Seevic.

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