Member Article

Two thirds of North West businesses to increase wages in 2015 according to Barclays

The Barclays Employers’ Survey 2015, which questioned over 660 UK businesses has revealed that, against a backdrop of wage growth outstripping inflation in recent months, 66% of North West businesses are planning to increase wages in 2015.

This is the second highest of all UK regions surveyed after Wales (joint second with Yorkshire and Humber).

It also found that 48% of local businesses are planning to take on new staff.

When looking at the types of roles local businesses are looking to fill, middle and junior management employees continue to be the most in demand across businesses of all sizes, with 93% of hiring businesses planning to hire at this level.

A quarter (26%) of local businesses reported skills shortages, with over half (51%) saying the majority were lacking in their main business activity.

Over a third (36%) of local businesses surveyed are planning to take on apprentices this year, an encouraging sign given the focus on bringing down the UK’s broadly flat youth unemployment rate.

Managing Director, Barclays Corporate Banking in the North, Michael Hartig, said: “It’s great to see so many North West businesses planning to increase wages this year.

“This is positive news for employees as firms compete for talent but also, in the longer term, for businesses themselves as they look to ensure they are well-positioned for future growth opportunities.

“Businesses are becoming increasingly engaged with apprenticeships, with over a third in the region planning to take them on this year.

“However, it would appear to be the largest businesses that are really ramping up their hiring.

“Smaller businesses may feel more constrained by resources but grants and support available to help SMEs take on apprentices could open the door to talented new employees, and ultimately bring these businesses tangible commercial benefits.”

This was posted in Bdaily's Members' News section by Sophia Taha .