Cordant Focus

Category: Employment Landscape


A profile of an emerging region

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Yorkshire has been named as one of the top places in the world to visit in 2015 in a new travel booklet and Lonely Planet put the area third in the top 10 world regions, behind destinations in India and Australia.

The Yorkshire economy is showing clear signs of recovery and is now gathering real momentum. Different regions have distinct economic profiles, strengths and weaknesses and Yorkshire and the Humber is taking impressive strides to modernise its industrial base and build a knowledge economy. The aim is to produce a more dynamic environment in which greater numbers of businesses start up and survive. Through this, more jobs can be created, ensuring that a healthy economy spreads prosperity to all its citizens.

Today, national and global demographic changes are a potential catalyst for a long-term systemic imbalance. The consequences of a shortage of a skilled workforce will mean higher wage-push inflation and potential  decreases in international competitiveness, and even the erosion of future domestic production capacity.

Three primary factors have been identified as the reasons for a pending systemic shortage: demographic changes, changing labour force participation patterns, and the need for productivity increases. These three factors are important signals that business must track in order to determine the ultimate size and depth of a systemic shortage.

Therefore, industries, schools, colleges and universities in Yorkshire need to consider methods to develop and attract students to train and become successfully skilful in a trade in order to accommodate the current huge deficit of skilled workers not only in Yorkshire but in the whole of the UK.

Yorkshire and the Humber is the best strategic location in Europe for leading industries but now is the time for companies to get more involved with recruitment agencies, as skill shortages is a problem that is going to require a long-term process and companies cannot rely on someone else sorting out the problem it is a matter which must be addressed collectively – Cordant Recruitment offer expert advice and are readily available to assist in all matters of recruitment.

This report outlines a snapshot of data for Leeds, Sheffield, York, Hull and Bradford, as well as key economic and future employment forecasts.