Business leaders confident about employment

07/01/2008

Despite reports of an economic recession, UK business leaders are optimistic about 2008, with 84% of senior executives predicting a ‘stable or growing’ employment situation over the next 12 months.

The figure is higher than it has been for fourteen years, according to the UPS Europe Business Monitor, which also found that 38% of businesses are looking to take on new staff in the next year – 2% more than last year’s results.

The survey of 1,451 executives in seven European countries also found that 48% of respondents said the economic position of their company is better than 12 months ago – compared to 44% in 2007.

And contrary to many reports, over half of business leaders in the UK predict a rosy year ahead, with 55% expecting the economic position of their company to have improved in 12 months’ time.

48% of respondents said that global competition posed a major challenge to them, with 32% adding that lack of skilled workforce was a problem.

Jim Barber, managing director of UPS in the UK and Ireland, said that following the recent turbulence in the economic climate, it is encouraging to see businesses feeling optimistic, especially in terms of employment outlook.

“UK businesses seem to be open to the opportunities presented by world trade, bucking the European trend of identifying global competition as the biggest challenge to business growth,” he added.