15 September 2014

Skills shortage in London

The recent KPMG/CBI London Business report states that 45% of London's businesses report a skill shortage.Two thirds of the firms reported difficulty in recruiting highly skilled people for technology and creative roles.

Recognising this, half of the firms have established links with schools and colleges. Many provide work experience to students and around a third provides careers advice and talks. 56% want a reformed visa system to remove the barriers to hiring highly skilled individuals from overseas.

The survey shows increased optimism about the economy, but it is growing at the slowest pace in a year. 47% are optimistic about their business prospects over the next six months, 66% planning to expand (highest figure this year). 62% will increase headcount, 18% reducing headcount (5% down on the last quarter).

CBI London Director, Lucy Haynes said:

"Having the right skills to drive the capital's economy forward is a core ingredient in the recipe for continued success. To keep the capital internationally competitive, we need to attract skilled workers and asked for further streamlining the visa system. We would also like to see the Mayor take urgent action to free up land for house building and invest more in the city's transport infrastructure."