The Barclays Employers’ Survey 2015 has revealed that less than half of companies in the media industry are feeling more confident about the UK economy compared to the same time last year, and fewer firms are planning to take on apprentices this year compared with last (23 per cent; 27 per cent). Looking further afield at the ongoing events in Europe, 34 per cent said they were concerned about the impact these events could have on their business.
“It’s concerning to see the slight dip in intention to take on apprentices, as apprenticeships are extremely important in nurturing and developing the next generation of leaders and can also bring significant commercial benefits. At Barclays we firmly believe that quality apprenticeships are fundamental to our business and we’re keen to support any company that wants to tackle youth unemployment.”
However, 53 per cent of firms in the media industry will be increasing wages this year, up from 44 per cent in 2014. These planned wage increases are in spite of the fact that 59 per cent of respondents said that wage pressure wasn’t an issue, however, 30 per cent said it was a concern to some extent and 11 per cent said it was a major concern.
The same survey also revealed that almost half of media companies are creating new roles this year and in further good news for the sector, none of those surveyed are planning to reduce headcount, down from 10 per cent in 2014.
Of the media companies which are hiring, 59 per cent are gearing up to increase the number of entry level positions; fifteen per cent will be creating senior management roles; and 85 per cent plan to create middle or junior management or skilled positions.
Commenting on these findings, Lorraine Ruckstuhl (pictured), Barclays’ technology, media and telecoms team, said: “Against a positive backdrop of continued falling unemployment and wage growth outstripping inflation in recent months, it’s heartening to see that over half of media firms surveyed are planning to increase wages this year and a similar amount are also poised to create new roles.”