Small companies recruitment problems cost economy billions

The Everline Small Business Tracker has revealed that the amount of time it takes small companies to recruit appropriate staff is costing the UK economy approximately £18 billion each year.  Each small business owner spends on average around 100 hours each year on recruitment and staff development, equating to almost £3,200 worth of their time. However, nearly one in six business owners trying to fill a vacancy in October 2014 were not able to find an adequate candidate. The number of vacancies in small companies in November 2014 (520,000) was the highest since 2004, and a substantial number of  small companies are planning to step up recruitment into 2015. Commenting on the findings, Charles Davis, Centre for Economic and Business Research (Cebr) Director stated: “As small businesses continue to create jobs and this reduces unemployment faster than expected, we are seeing skill shortages become an ever greater challenge.”
Read more about the Small Business Tracker figures at:

Skills shortage to hinder UK growth

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