London firms face recruitment challenges due to picky applicants

Firms in London are finding it difficult to hire staff, according to a recent survey of 1,000 companies. The survey reveals that more than 80% of businesses have job openings, a trend that has increased since 2023. Many businesses say applicants are becoming more selective. Almost half of the companies reported challenges in finding suitable candidates. Additionally, over 25% noted a lack of interest in available roles. About 45% of firms mentioned that requests for remote work hinder their hiring efforts. Companies are also expressing dissatisfaction with current employees. More than a third of firms believe their staff lack essential skills. One-fifth of these firms pointed out that English skills were not sufficient. Basic math skills were also highlighted as a common weakness. The communication and finance sectors are seeing the highest number of vacant positions. In response, many businesses are taking proactive measures to attract talent and enhance their employees' skills. Approximately 80% of firms plan to invest more in training. Mark Hilton from BusinessLDN noted that London’s job market appears to be slowing down. He suggested that the struggle to recruit workers might prompt businesses to seek significant changes in training and education during the upcoming Spring Statement. Hilton emphasized the need for collaboration among businesses, education providers, and government to fully utilize London's workforce.