26 January 2015

UK businesses set to hire up big in 2015

According to recent stats 50% of businesses plan to hire new employees in 2015. The figures come from a recent Employment Trends Survey conducted by the Confederation of British Industry (CBI) and Accenture. Drawing on responses from 323 individual firms, the study revealed that half of British businesses plan to expand their workforce in 2015.

Katja Hall, the deputy director-general of the CBI explains that “businesses are planning to create jobs in every region of the UK next year as the recovery continues, and more and more of those jobs will be permanent.”

A positive outlook for university graduates 

As well as indicating a rise in job advertisements the survey also unveiled a growing demand for university graduates. According to the study over 30% of businesses plan to increase the number of graduate employees they take on over the next year. Apprenticeship prospects are also looking bright, with 33% of firms on the search for in-house trainees over the next 12 months. “The outlook for young people is also looking brighter as firms look to boost their graduate in-take and expand apprenticeships,” adds Hall.

A boost for the British economy

As well as helping individuals the rising demand for new employees, graduates and apprentices can be interpreted as an indication that the UK economy is well on the road to recovery. Olly Benzecry, managing director for Accenture in the UK maintains that “the positive outlook on jobs growth revealed in this survey is a welcome sign of the UK’s economic recovery.”

A focus on skills and training

Yet despite the positive implications Benzecry warns that the UK must ensure that it can provide its businesses with the skilled labour needed to foster economic success, explaining that “we must make sure we have workers with the skills required to drive the UK’s competitiveness, and this requires a comprehensive approach to skills development.”

A joint effort from government, education and business

So how can the UK make sure that its workforce is skilled, capable and ready to deliver? Experts uphold that the solution lies in a skills oriented partnership between the government, education and business. Benzecry explains, “the collaboration between government, education and business on the skills agenda, alongside the investments being made in higher-level apprenticeships, are improving employment prospects for young people, while those companies investing in the digital literacy of their employees will be well-placed to capitalise on the rapid digitisation of the UK economy.”

As the UK enjoys an increased demand for labour it is essential for all businesses to take out comprehensive employers liability insurance. As well as protecting employees it also protects businesses and ensures that they can reap the full benefits of an expanded workforce.