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Smaller companies in competition for London’s stretched talent pool

Firms are forking out more than planned to attract and retain top talent

More than four out of five London-based small- and medium-sized companies (SMEs) are struggling to find recruits with the skills they need for their businesses.  This in turn means they are having to readjust their remuneration packages and increase their investment. many to increase investment and raise remuneration packages, a study by HR firm, Robert Half, has found.

In findings published as part of its 2019 edition salary guide, the HR company said that six out of 10 businesses in London found themselves paying above the amount they had initially planned in order to secure a candidate they wanted, as they scrambled for tech-skilled employees.

Chris Lawton, Robert Half’s director, said: “Technology and digitalisation is rapidly changing the London business landscape.”

“This, coupled with uncertainty around leaving the EU, means that businesses must adapt their recruitment strategies to ensure they are equipped with the right talent to keep up,” he said, adding such arrangements “will be key for London as it seeks to maintain its status as a global leader in financial and technological advancement.”

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