Our latest Employment Trends Survey reveals access to skills seen as a threat to UK competitiveness.
Key takeaways
- More than two-thirds of UK businesses (71%) have been hit by labour shortages in the last 12 months.
- 77% of businesses believe access to skills threatens the UK’s current labour market competitiveness.
- Nearly 7 in 10 firms (69%) that responded to the survey are investing in training to upskill current workers to ease skills gaps and labour shortages.
Over the past year, labour shortages have hit businesses, disrupted plans and stifled growth. According to CBI’s Employment Trends Survey, carried out in partnership with Pertemps, more than a third of businesses (38%) have been unable to seize new opportunities despite demand.
The impact of shortages extends further: 22% have had to hold back on their investments and 12% have even had to shrink their business.
So it’s clear that labour shortages are continuing to impact businesses’ ability to grow. But there’s also sign of the lasting damage these shortages are having. Over the past five years, the UK has become a less attractive destination for investment and business growth. A resounding 76% of businesses expressed their concern on this – and that’s the bleakest outlook in years.
Access to skills (77%) and access to labour (66%) are the two most prominent threats to the UK's labour market competitiveness. The rising cost of living (61%) continues to be a
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