UK to become Europe’s largest “talent magnet”, KPMG expert believes

Increased demand for skilled workers as well as a lack of suitable domestic candidates is likely to turn the UK into a "talent magnet" within the European Union, a senior partner for professional services company KPMG has argued.

The latest REC/KPMG Jobs Outlook report for August revealed that, out of the 400 companies that answered the poll, over half (53.5%) had fewer available candidates for permanent roles in July than the previous month. This is the thirteenth consecutive month the number of available candidates has fallen, and also the steepest decline seen since the report began in 1988.

One of the immediate results of the persistent lack of candidates is that starting salaries have gone up, with more than one-third (35.9%) of employers being offered higher starting wages in July than June.

Commenting on the results published in this report, KPMG partner and head of business services Bernard Brown said that the UK is likely to become a real "talent magnet" for skilled workers from all over Europe, who are likely to be drawn in by the higher salaries.

"I see this as an opportunity for the UK," he argued. "Wages are up due to a classic case of demand outstripping supply. With more jobs and higher wages, highly skilled workers from all across Europe will be falling over themselves to come and work here.

"Britain will become a magnet for talent and skills. Far from this being a problem here, it's much more likely to become an issue in other parts of Europe as they suffer a talent drain."

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