Labour costs 'biggest worry for CFOs'

News Article - 06 February 2008
Category:

European chief financial officers (CFOs) are most worried about the ability to control costs of labour this year, according to a new poll.

The survey, conducted by CFO.com, revealed that shortages of skilled labour and consumer demand were ranked second and third in the list of concerns, followed by the cost of fuel.

However, with the possible integration of a new EU blue card programme which aims to loosen immigration policies and attract foreign workers, CFOs' labour concerns may be addressed, stated the website.

To give sectors such as construction and IT the competitive edge, the EU has estimated that 20 million more workers are needed over the next two decades.

However, careful planning is necessary, it continued, explaining that previous attempts to make it easier for non-EU professionals to get European work permits have failed, as in Germany during 2000.

According to research by Bank of Scotland Business Banking, over 80 per cent of small and medium-sized enterprise owners think the overall costs of running their business will increase this year.

Article keywords:

---

More industry news

• Think tank warns UK may have already slipped back into recession
• Growing demand for HR staff in technology and international sectors
• Boosting business growth a ‘priority’ to avoid Eurozone slowdown
• HMRC launches alternative disputes pilot scheme this week
• December employment statistics disregard gloomy recruitment predictions
• Eurozone manufacturing PMI shows modest improvement
• UK scores highly for economic governance by ratings agency
• Government launches two-year project focusing on manufacturing sector
• Burden of regulation on UK businesses ‘too high’

Back to news home page »