
According to chancellor George Osborne, unemployment is at its lowest rate since 1975.
In his 2015 Budget speech?he said: ?We are reminded that the most important consequence of our plan is more people in work ? with each job meaning a family more secure. The pace of net job creation under this government has been three times faster than in any other recovery on record.? For the first time in 35 years, the UK boasts a higher employment rate than the US and?Yorkshire has created more jobs than the whole of France. However, Geraint Johnes, director at Lancaster University’s Work Foundation, suggested that?sustaining an economic recovery would mean an increase in pay. In turn, he stressed, the turnaround in productivity would need to be realised.? “If productivity can rise at a steady state once more, the budgetary plans look as though they can be achieved,” he said. “But if it cannot, meeting deficit targets will be an impossibility.” According to?Warwick Business School research, one area which could hamper both growth and productivity alike is the?current levels of management and leadership skills?within SMEs. Professor James Hayton, of Warwick Business School, suggested that when looking at the distribution of skills in the population, there is a “long tail” of SMEs not employing management best practice.? Read more about management:- How to keep your best staff: A guide to employee share schemes for SMEs
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