One in three companies are struggling to find staff with the right skills, new research shows.
InterTradeIreland’s latest All-Island Business Monitor reveals that the business landscape across the island is mostly positive.
56% of the 750 companies surveyed said they are stable, while one third are growing.
However, access to skilled labour is putting pressure on firms.
Over half of these companies are experiencing long term vacancies, while nearly a quarter are dealing with short term skills gaps.
The findings show that certain sectors including construction, manufacturing and leisure, hotels and catering are most impacted by the tight labour market.
This is in addition to companies reporting growth, and those with 11-49 employees.
When asked about the steps that firms are taking to address any skills gaps, 31% of all businesses with more than three staff said they are embracing new technologies.
For those that are struggling to access skilled labour, just over half are increasing recruitment activity and widening their search.
Just 16% are investing more in training and development.
Over a quarter of the businesses surveyed saw sales rise between April and June, while one in three expect sales to rise in the next six months.
Seven in ten said they are profitable, although cost pressures remain the most important concern for businesses.
The survey also asked businesses how they have adapted to Brexit.
A third of companies said they are not impacted, while 46% indicated they have adjusted in full or to a large extent. 21% said they have only adapted to a small extent or not at all.
Over 60% of businesses surveyed said they have no knowledge at all of the Windsor Framework.
“InterTradeIreland has developed a Trade Hub which is a powerful resource for businesses looking to trade effectively and efficiently between Ireland, Northern Ireland and GB, with a fully funded trade health check available,” said Martin Robinson, Director of Strategy for InterTradeIreland.
“It also contains information for SMEs who want to know more about customs, VAT, regulation and cross-border employment,” he added.
Article Source – One in three companies struggling to find skilled staff – RTE
