Firms intend to recruit fewer new employees and work their current staff harder in 2011, says a Bank of England report.
The research, conducted by the Bank of England’s UK agencies, asked 370 companies about their plans for the year ahead.
Here are some of the findings as quoted on the Daily Telegraph website:
- Most businesses plan to raise output by 5 per cent using only their existing workforce
- Fewer than 10 per cent of firms said they did not have the capacity to increase output using current staff levels
This trend could lead to a rise in the number of cases of employment law cases as companies put the challenge of dealing with upward pressures onto staff. Workers will as a result face increased workload, more work-related stress and job-loss fears.
The Bank of England report also focused on specific industries, highlighting key trends including:
- 84 per cent of firms are set to pass on the full VAT rise to consumers
- Companies in the construction industry are tendering for work that would usually be left for smaller firms, leading to “industrial concentration”
- Bank credit remained hard to get for small business, but was more or less “back to normal” for large businesses
Firms plan to work staff harder (Daily Telegraph)
Learn about UK employment law (Findlaw.co.uk)
More about problems at work (Findlaw.co.uk)
Find a UK solicitor in your area
Ask a legal question in the Findlaw Community
You may also like:
- Law and government: Councils appeal for increased powers to limit…
- International: Virginia governor overturns law to allow convicted criminals to…
- Legal Aid: New report shows rise in DIY defence since…
- Guest Blog: Cohabiting couples, their rights and the common law…
- Health and Safety: Alton Towers owner pleads guilty to health…
If you cannot find what you are looking for on Findlaw.co.uk please let us know by contacting us at: email@example.com.
Furthermore, please be aware that while we attempt to ensure all our information is as up-to-date and relevant as possible occasionally some our articles may no longer be accurate.