Telecoms Industry Leading Economic Recovery

The Barclays Employers Survey 2014, which questioned nearly 700 UK businesses, has revealed that 77% of the telecoms companies surveyed will be creating new roles (2013: 69%), the greatest number of all the sectors surveyed. It is also the sector most likely to increase wages in the year ahead, with 77% reporting that it would do so.

The sector’s intention to create new jobs is now considerably further ahead of the national cross-sector average, which revealed 49% of all companies plan to create new jobs this year.

Of those telecoms firms which are hiring, there are opportunities for new staff at every level, with more senior management positions likely to be created (47%) than any other sector (2013: 39%). 96% of the sector will be creating jobs in middle management or skilled positions (2013: 79%), and 60% are likely to create jobs at entry level, which is a significant rise from last year (2013: 27%).

Employees in the telecoms sector are also some of the most open to flexible working practices, with 83% more open to flexitime than they would have been five years ago and 70% said that that they were more likely to let their employees work from home, compared to five years previously. In fact, 13% will base new staff at home permanently, more than any other sector.

There has been a steady decline in the sector of the number of companies believing that sales increases will lead to job creation, rather than creating jobs to drive sales (2014: 62%, 2013: 67%, 2012: 77%). This indicates that firms in the sector are slowly feeling more confident about creating jobs to drive business growth.

Further findings relating to the telecoms sector:

•53% are looking to hire freelancers or contractors this year, with 45% doing so because they have a particular skill, while 42% will hire them due to the flexibility they offer.
•52% of firms are more confident about the economy than they were this time last year.
•46% think the worst is behind them in terms of the Eurozone crisis, while 15% think the worst is to come. 32% think it’s neither any worse not any better.
•46% said they struggled to get the skilled labour they need.

Commenting on the findings, Andrew Skinner, Relationship Director, Barclays’ Technology, Media and Telecoms (TMT) team, said: “This is a sector looking to invest in people right across the board, which is great to see. After an extended period of wage freezes, which have been tough for employees, it’s good to see that so many employers will also be increasing wages in the coming year. This can only have a positive effect on employee morale and the UK economy.”

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David Dungay

Editor - Comms Business Magazine
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