Northern Powerhouse fuels growth…..Leeds and Manchester performing well

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Leeds’s economy has grown at a faster pace than London during the three years since the Northern Powerhouse was launched, new figures show.

Information in the UK Powerhouse report, showed that Leeds’s economy had grown by 8 per cent since George Osborne launched the initiative at the end of June 2014.

This compared with London which grew by 6.9 per cent. The new research showed certain sectors in Sheffield, York Bradford and Hull were all performing well too, with the former city having grown its financial sector by 28 per cent since 2014.

However the report, compiled by think tank the Centre for Economics and Business Research (Cebr) and law firm Irwin Mitchell, showed that all of Yorkshire’s cities were positioned behind Manchester, which has seen output grow by 9.1 per cent in the same period.

However Leeds’ job creation rate of 9.5 per cent exceeded that of both Manchester and London, the research showed. Award win: Leeds’s Victoria Gate shopping centre.

Within the league table for financial performance, Leeds came second to London in terms of both Gross Value Added (GVA) and employment growth.

Elsewhere York and Wakefield were both shown to be leading the way for employment in the UK.

The study, which provides a quarterly estimate of data and job creation within 45 UK cities, also highlighted the fact that more needs to be done to rebalance the UK’s economy, revealing the longer term picture to be slightly more bleak as it predicts that the gap between London and the rest of the UK will get even wider by 2026.

Leeds’ economy is set to grow by 12.8 per cent in the next 10 years, compared to 16.1 per cent for London and 22 per cent in fast-growing Milton Keynes. Judith Blake, leader of Leeds City Council, said: “The Northern Powerhouse must focus on people and respond to their needs and wants.

Andrew Walker, head of business legal services at Irwin Mitchell in Leeds, said: “The results of this study are on the whole encouraging, particularly as it shows that Leeds is benefitting from a number of high growth industries including health care and medical technologies, edtech and game development. The city is home to large digital companies such as NHS Digital, Rockstar Games, and houses Sky’s Betting, Gaming, and Technology enterprises and in order to make sure the city continues to thrive, it’s crucial that these industries are allowed to flourish.”

Mark Goldstone, head of business representation and policy at West and North Yorkshire Chamber of Commerce, said: “The Northern Powerhouse brand is already making a difference to perceptions around the world so it is pleasing to see this reflected in our city’s performance.

“Leeds is already proving attractive to investors in addition the growth of companies in the city has been strong since the end of the recession.”

Leader of Leeds City Council Councillor Judith Blake said: “Despite the continued challenging economic environment, Leeds has continued to perform exceptionally well, especially in regards to job creation which is the highest in the country.” The former Chancellor of the Exchequer George Osborne at AMRC in Sheffield where he signed the Northern Powerhouse  Picture Bruce Rollinson

The report said Leeds has expanded its financial sector substantially in recent years, with the city’s total output from finance and insurance increasing by 40 per cent between 2012 and 2015.

It also said that Sheffield’s financial sector is on the up, with around 43,000 employed in the sector over 2016.

Jack Coy, Economist at Cebr, said: “Despite the UK-level economic slowdown over the first quarter, it is good to see some bright sparks in local economies across the country.”
While the performance of many key northern cities will be welcomed by business and civic leaders, the report did also sound alarm bells about a slowing economy and one that was still some way behind redressing the north south divide.

According to the Cebr and fellow authors law firm Irwin Mitchell the UK economy grew by 0.2 per cent in the first three months of the year, a considerable slowdown from a quarterly expansion of 0.7 per cent at the end of 2016.

The slowdown in GDP was predominately driven by a weakened performance in the services sector,as a squeeze on household incomes continues to reduce consumer spending.

Courtesy Yorkshire Evening Post – Mon 17th July 2017

Innovation and digital will cement North’s role in rebalancing UK, says EY chief economist

Innovation and digital will cement North’s role in rebalancing UK, says EY chief economist

As part of the North’s economic revival we hope that Interface can be part of the Digital revolution and help spearhead every region we operate in to create opportunity for both business and individuals to learn, develop and progress. It’s evident that Digital is a key area where Manchester and the North can compete at every level. Regardless of being a small to medium or an enterprise size organisation, skills adoption is key to putting yourself at the forefront of the market and in that sense the recruitment industry is going to play a pivotal role in working towards attracting skills and talent into the region.

We invite any organisation to discuss the challenges they are facing and to see if we can offer advice or practical solutions to solve problems in the tightest of skills markets. What ever shortages exist we may be able to help.

REF: thebusinessdesk.com 04/07/17

Are you able to hire – in 1 day!

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Many leading firms now need to be innovative, agile and super responsive with regards to their interview process and the time it takes them to hire. It seems that many top firms are losing out to the SME world as their interview process stretches over 4-12 weeks, which is far too long. Essentially all this does is aid the smaller firms, as they strike first, decisively and buy the top level graduates and experienced hires from the market. Usually before the first interview has even been booked the targeted candidates are receiving offers elsewhere.

Sound familiar? Then why not do something about it.

Perhaps it’s down to one or two key things. There are a multitude of reasons but here are a couple that may get you thinking…

Firstly, many SME businesses can be flexible, make decisions without the restriction of governance or numerous peer group buy in/decision making. Making changes with other more sizeable businesses can take time. After all, if the attraction piece of their HR/Recruitment teams has worked for many a year, then why change it now. There also seems to be the need to receive buy in from all peer groups; which can delay the process further as availability then plays a key part. The fear of making the wrong hire, lying squarely on your doorstep, is a frightening thought for some. Understandable but it doesn’t cure the problem and the brave employer is winning the day with cute candidate propositions and a speedy process.

Secondly, perhaps larger companies also fall foul of “we are the best, we are the biggest, everyone will want to work for us…regardless of the competition” syndrome.

This is not to be mistaken for arrogance, only that some businesses are confident in their office space/benefits package and the blue sky career on offer…granted many SME’s cannot compete on all fronts. Although they can offer a role with perhaps more autonomy and daily coverage across a diverse technical and functional set of topics. It’s a known fact that the smaller companies could offer you the chance to do more, as the need to do more is prevalent as team size is smaller. Sounds like a nuance and not a real reason to join a company. Well may be but job boredom is becoming a major factor in people’s lives and a major reason why people make poor lifestyle choices and put a plaster over the negative feelings they endure during their working daily lives. Work boredom can equate to an early grave…according to some credible and very recent studies.

So why run the risk of heads being turned and losing niche hires that can take months to attract?

When it comes to recruitment ideology then change can be a very good thing indeed. It means you’ve investigated, listened and learned from your research into the market. A wise recruiter always knows what the competition are doing and will recommend changes within their own business to remain in the race.

A little analogy…

When fishing do you merely turn up and expect you’ll get the biggest and best fish if you’re slow casting your line and turn up just after lunch. Do you think that throwing the largest piece of bait into the pond will attract every fish going and they will feast only on the biggest meal.

The hungrier recruiter is throwing all of their available bait, into the pond and in one foul swoop. Wowing the fish with their attraction skills, coaxing them to take the bait and once hooked they are unlikely to let go…

We believe that recruitment trends are fickle, ever moving and ever changing in a world driven by the next social/ web trend. Could it be that the larger players in the UK market have been slower to react to these trends and don’t act decisively when they see someone good.

Agency Recruiters also play their part in the education process as they have exposure to their client’s competitor outlook. A good recruiter will not just tell you what you want to hear, they will also play a part in letting you know what the market thinks about you, what your completion do and how you can become leaner and more efficient when recruiting.

Finally, why has the trend of interviewing from first to final stage (in one day), only just caught on?

See this link regarding KPMG’s outlook. A great organisation looking to adapt, attract the best and become a new age recruiter casting off the competition – most probably with comparative ease as they not only have the proposition but they can now act decisively.

KPMG HIRE IN 1 DAY

ref BBC website www.bbc.co.uk 2/8/16