UK professional services firms hit by labour shortages

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Professional services firms in the UK have warned of growing “white collar” labour shortages as businesses fight it out for top talent amid the economic recovery from the coronavirus crisis.

Some City of London firms have even started to turn away work due to a lack of staff, according to business leaders.

Attempts by professional services firms to poach rivals’ staff are unleashing sharp rises in pay across the industry, said executives and headhunters.

The UK labour market is heating up after the lifting of most coronavirus restrictions, with the number of job vacancies in the UK rising above 1m for the first time on record in the three months to August, according to official data released last month.

Data compiled by KPMG and the Recruitment & Employment Confederation showed that appointments to permanent roles hit a record high in August, as a big drop in candidates drove sharp increases in pay.

While much attention has recently focused on…

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