UK to become Europe’s largest “talent magnet”, KPMG expert believes

Increased demand for skilled workers as well as a lack of suitable domestic candidates is likely to turn the UK into a “talent magnet” within the European Union, a senior partner for professional services company KPMG has argued.

The latest REC/KPMG Jobs Outlook report for August revealed that, out of the 400 companies that answered the poll, over half (53.5%) had fewer available candidates for permanent roles in July than the previous month. This is the thirteenth consecutive month the number of available candidates has fallen, and also the steepest decline seen since the report began in 1988.

One of the immediate results of the persistent lack of candidates is that starting salaries have gone up, with more than one-third (35.9%) of employers being offered higher starting wages in July than June.

Commenting on the results published in this report, KPMG partner and head of business services Bernard Brown said that the UK is likely to become a real “talent magnet” for skilled workers from all over Europe, who are likely to be drawn in by the higher salaries.

“I see this as an opportunity for the UK,” he argued. “Wages are up due to a classic case of demand outstripping supply. With more jobs and higher wages, highly skilled workers from all across Europe will be falling over themselves to come and work here.

“Britain will become a magnet for talent and skills. Far from this being a problem here, it’s much more likely to become an issue in other parts of Europe as they suffer a talent drain.”

Faced with such prospects, every company and organization should also consider the possibility of implementing extensive workforce management system designed to permanently assess, evaluate and report the available skill base. This is specifically where Tensor’s extensive expertise in the field can be put to very good use.

Tensor plc offers a range of solutions designed specifically to streamline workforce and skill management within companies of any sizes. Our WinHR suite enables managers to save and easily access a wide array of data pertaining to each of their employees, thus allowing them to better use the available resources and skill ranges at any given moment.

Moreover, Tensor’s range of products offer both a high level of reliability and good value for money, which means that companies who do decide to implement our solutions will immediately see the returns, without taking a hit as far as their balances are concerned.

If you’d like to find out more about the range of workforce management and Time and Attendance solutions supplied by Tensor, just contact us or Book a Demo, our representatives will be more than happy to answer anu questions or queries you might have.