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Regional insights

The view from the North West

Every two months, we ask business leaders across the country to share their expectations and priorities for the future. We want to track how sentiment is changing in the market and get insight on timely issues: from tax to ESG.

Read the latest views from business leaders in the North West.

What's changed since December 2021?

  • As we start the year, optimism about the country’s economic prospects has risen from 54% to 64% in the North West, just below the national average of 65%
  • Of the mid-sized businesses in the North West surveyed, 61% are experiencing unusually high attrition rates – with more people leaving their business than normal.
  • Over half (61%) are offering higher salaries for new roles, with the same percentage confirming they are offering pay rises or bonuses to help retain their existing people.

The battle for talent

Competing in the talent market requires looking beyond just salary, with jobseekers increasingly taking the wider employee offering into consideration. The research finds that the North West mid-market is responding to this, with two thirds of respondents (66%) offering flexible working opportunities as standard and 62% also currently reviewing their employee benefits package to make it more competitive.

Attracting and retaining the necessary skills is an ongoing challenge and many North West businesses are now looking to government for support. Over a quarter (30%) respondents said incentives to invest in skills attraction and development should be a top priority for policymakers.

120x120-carl-williams.pngCarl Williams, Practice Leader, North West, said:

“For many employers, flexibility will be key. The rise in hybrid working has allowed people to achieve a better work-life balance, while still providing the opportunity for collaboration and human connection in the office environment. Employers who can offer this continued flexibility will be much better placed than those who don’t.

“Job seekers now consider a much broader picture when deciding where they want to work and a company’s overall employer brand and offering has never been more important. While salary and benefits will always be high priority, people also now place much more importance on other aspects of the employee proposition such as the long-term development opportunities, the workplace culture, an employer’s focus on wellbeing and inclusion and diversity, to name just a few. Many in the mid-market are already focusing on this which will put them in good stead for the future.”

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