London is expected to see an increase in the amount of jobs offered in 2016, but executives are already worrying about the apparent skills shortage, according to a recent report.
The study by recruitment firm Robert Half found that 63% of finance executives in London predict new job openings in the first half of the year, compared to just 58% in the rest of the UK.
A shocking 99% of senior finance executives claim that recruiting the right level of professionals will be a huge challenge in the upcoming months, whereas 85% admitted they were very concerned that their top employees would leave.
Matt Weston, Director at Robert Half UK, explained the results: “As demand for employees increases the available talent pipeline will continue to shrink. We therefore advise companies in London and the south east to act quickly if they find a candidate with the right skill set and commercial acumen.
“The best way to remain competitive in the hiring process is to ensure salaries are benchmarked and your existing employees are looked after – either by offering additional perks such as flexible working, or by hiring temporary resources to help ease the pressure of workloads.”
A further study by Association of Professional Staffing Companies (APSCo) found that recruitment firms experienced a rise in permanent job vacancies up to four per cent.
However, this is not the first warning that there may be recruitment challenges ahead.
Following the release of the Office of National Statistics’ new report last week, several recruitment experts spoke out about skills shortages and the problems caused by a strong sterling.