Business News Round Up (22/06/2021)
UK businesses confident of growth but need employees with new skills
The gradual lifting of COVID-19 lockdown restrictions and opening of key sectors has left 86% of UK businesses feeling confident about growth prospects for H2 of 2021, according to the latest quarterly Demand for Skilled Talent report by recruitment specialist Robert Half. Overall business confidence levels have increased by 10% compared to January 2021, with 28% of employers now saying they feel ‘very confident’ and over half (58%) are ‘somewhat confident’ of growth this year in the report which analyses trends in demand for specific talent. The biggest factor standing in the way of growth is employers struggling to find employees with the right mix of skills, with the majority focused on reskilling and upskilling employees to meet evolving business needs and opportunities brought on by the pandemic. The most in demand employee skills for H2 2021 are hybrid skills (a combination of soft and technical), digital and data capabilities, change management and communication.
Employers need to prioritise staff wellbeing, new work survey shows
Employers are being urged to prioritise staff wellbeing as a new survey has revealed working from home leaves people struggling with ‘excessive workloads’ and poor regulation of their personal time. The impact of Covid has led to significant shifts in workers’ wellbeing with more than a third (37%) of those working from home saying they find it hard to relax because of their job, the annual industry survey by the Chartered Institute of Personnel and Development (CIPD) Scotland has found. The Working Lives Scotland report found that the pandemic has exposed deep differences in job quality across the Scottish workforce, by measuring five key dimensions of fair work: respect, security, opportunity, fulfilment, and effective voice. It found that homeworkers – just over half of all Scottish employees at the time of the survey – have seen some benefits, but also drawbacks to the changes in ways of working. While homeworkers, paradoxically, report better relationships at work and are more positive about employee voice compared with those not working from home at all, they report poorer work-life balance and excessive workloads.
North West food and drink manufacturers battle Covid-Brexit double whammy but look ahead to growth
Food and drink manufacturers have endured the twin challenges of COVID-19 and Brexit with resilience and strength, and are ploughing ahead with growth, according to new research published today by accountancy and business advisory firm BDO. Despite a year of substantial change and uncertainty, BDO’s Food & Drink Report 2021 shows that more than three quarters (78%) of businesses are feeling positive about their future prospects, with 68% expecting profitability to increase in the next 12 months. Looking ahead, new product development, expansion into new UK markets and investment in production are the top three areas of growth identified. Business leaders also see sustainability as a key focus, particularly in reducing waste, plastics, and emissions. However, challenges remain for the sector which employs 45,500 people in the North West and contributes £3.28bn to the regional economy. Almost a third (31%) of the businesses questioned experienced a decrease in margins last year and, with rising inflation on the horizon, increased pricing pressures are expected.
Tech start-ups defy pandemic with strong growth
A significant majority of Scotland’s tech start-ups grew during the pandemic, defying some predictions that many would be forced to cutback or even shut down. The Scottish Start-up Survey 2021, run by the Engage Invest Exploit (EIE) team at the University of Edinburgh’s Bayes Centre, has revealed that 68% per cent of start-ups said they grew during the pandemic, with only 11% cent saying they contracted. Almost three-quarters (72%) said they expect to come out of the pandemic in a stronger position, with only 7% anticipating a decline in business. A fifth (21%) were unsure while 59% said they had to pivot in the wake of the pandemic. The findings of a survey by Turing Fest last April in the early weeks of the first lockdown revealed huge concern about the survival prospects of tech firms.