Around 60% of Yorkshire firms recruiting early careers talent, but barriers remain, Lloyds research finds
Nearly six in ten Yorkshire & Humber businesses have recruited early careers talent in the past year, but the real challenge is connecting firms with the candidates they need, according to new research from Lloyds.
The latest Lloyds Business Barometer has revealed a strong and sustained commitment to investing in young people, and of the companies in the region that hired early careers talent in the past 12 months, 81 per cent of Yorkshire & Humber firms said they expect to recruit more over the next year.
Even among Yorkshire & Humber businesses that did not recruit early careers talent in the last year, 51 per cent say they would do so if they felt able.
Martyn Kendrick, regional director for Yorkshire at Lloyds, said: “There’s real ambition among Yorkshire businesses to invest in the next generation, which is a strong vote of confidence in the region’s future.
“Yorkshire has a powerful mix of major employers, growing industries, universities, colleges and training providers. Bringing those strengths together and making it easier for early careers talent to access the opportunities on their doorstep will help build the skilled pipeline businesses in the region need to grow.”
When asked what factors would most increase their confidence to invest specifically in early careers talent, Yorkshire & Humber employers highlighted stronger external collaboration, more relevant local training provision and better access to suitable candidates.
More than a third (35 per cent) cited stronger links with colleges, universities or training providers.
This was followed by more relevant local training provision (33 per cent), better access to suitable candidates (29 per cent) and access to free work readiness or employability skills programmes for new hires (28 per cent).
Nearly a fifth (17 per cent) also pointed to finance to smooth cash flow while training pays back.
The confidence from the region’s firms extends to the wider skills investment picture where nearly nine in ten Yorkshire & Humber businesses (87 per cent) said they are confident they can secure the capital required to invest in training, apprenticeships or new hires over the next one to three years.
This is the second highest of any UK nation or region, after Scotland (89 per cent), and ahead of the UK average of 80 per cent.
On the types of skills businesses need, customer service and relationship management (36 per cent) was the most cited by Yorkshire & Humber businesses followed by digital and data skills (29 per cent) and sales and business development (28 per cent).
Nationally, more than half (52 per cent) of UK businesses have recruited early careers talent in the past year, with the North East leading on recruiting early careers talent at 70 per cent followed by Scotland (66 per cent) and the North West (60 per cent).
Of the companies that hired early careers talent in the past 12 months, 89 per cent expect to recruit more over the next year. That figure rises among South East and London businesses to 97 per cent and 96 per cent respectively.
Amanda Murphy, CEO for Lloyds Business and Commercial Banking, said: "Businesses are not simply hiring for today, they are investing in the people who will shape their future. The strength of employers’ appetite for early careers talent is encouraging, but ambition needs to be matched by better access to candidates, clearer routes into training and the confidence to keep investing.
“Technology will continue to transform how businesses operate, and the findings are a powerful reminder that customer facing skills still matter.”