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U.K. companies are gearing up to hire more workers to satisfy growing demands from consumers to buy products and services instantly online, a survey showed.
Lloyds Bank Plc said 47% of the 600 businesses it surveyed plan to add staff in the medium term, with more than a third saying it’s a priority to develop new products and services. At least 30% expect to increase sales through the internet.
The research marking the 20th anniversary of the Business Barometer survey indicates most companies think the next two decades will be more difficult than the last, weighed down by the rising cost of recruiting staff, tighter credit and Britain’s exit from the European Union.
“They are gearing up for growth and expect to increase headcount, enhancing their service offering or utilizing new technologies,” Paul Gordon, a director at Lloyds for SME and mid-corporates, said in a report released Tuesday.
The report also showed:
- 11% of companies cited the fast pace of technological development as a challenge for the next two to three years
- 83% said they think the next 20 years will be more difficult because of the recession, credit crunch, Brexit referendum and the pandemic
- 30% say increasing online sales is a key priority
- 44% say the government could smooth difficulties by improving vocational-based learning
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