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Private sector “won’t pick up the pieces”

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When asked if they expect an increase in recruiting ex-public sector employees over the next year, 74 per cent of employers said no.

The Chartered Institute of Management Accountants’ (CIMA) latest mid-size business confidence monitor, which surveyed CIMA’s 14,000 members, paints a worrying picture for future employment trends.

Only 11 per cent of employers say they expect to hire more ex-public sector workers, despite the huge cuts the public sector faces over the next couple of years.

“This may be a concern for many public sector workers who are facing redundancy and hoping to find jobs in the private sector,” says Ray Perry, executive director of CIMA.

In fact, it’s increasingly looking like the hiring freeze is set to go deeper than expected – over half of respondents (59 per cent) say they anticipate no rise in recruitment levels during the first quarter of the year.

Other findings from CIMA’s confidence monitor:

 

  • VAT rise: 61 per cent expect little effect on overall performance. Only 33 per cent expect a negative impact on their sales as a result of the VAT rise.
  • Confidence: 48 per cent feel confident about their general business performance in the current climate
  • Funding: Businesses continue to find this challening. When securing additional finance, 49 per cent of businesses say access to cash was difficult, compared to 34 per cent in Q3.
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