Hurrah! London firms to embark on hiring spree

Half of London businesses expect to grow their workforce, and nearly as many plan pay rises

Here’s a positive piece of news to start the week. Companies based in London are set to make 2015 the year they go on a talent acquisition bender.

This should mean that over 2015 there will become more jobs available for the humans of London.

According to the CBI/Accenture Employment Trends Survey, which covers 127 businesses that employ people in London, 54% of them expect their workforce to grow over the next year.  

Job prospects for young people have also improved with many of these firms planning to recruit graduates and apprentices.

The survey also revealed that 43% of firms are planning a pay rise in line with the Retail Price Index (RPI). There has been a small increase in the proportion of companies expecting to pay above RPI when compared with last year’s survey – 12% in 2014 compared to 7% in 2013.

CBI London director Lucy Haynes said: “Firms in London are gearing up for a positive 2015 with over half planning to create jobs, most of which will be permanent. Young people should find more chances to get a foot on the career ladder this year, with many firms looking to boost their intake of graduates and apprentices.

“We want to see everyone enjoy the rewards of the recovery and London has a big role in driving the UK economy forward. Growth should work for everyone, and skills are the key route to ensuring that this happens through improved productivity and pay.”

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