employment 4 students - The UK's most visited student jobsite

Menu

Half of firms ill-prepared, says survey

10 Jul 2008

Half of firms ill-prepared, says survey More than half (51 per cent) of UK firms have admitted they do not have the right strategy to deal with the current financial climate, one new study has found.

A report – entitled Fight of Flight? – by consultants Hay Group revealed an astounding lack of planning for the economic slowdown as companies have been preparing on average for the last ten months – which is when the credit crunch began.

Students about to embark on year-long internships as part of their placement years could be interested to hear many firms are not prepared for the next chapter in the economic slowdown.

More than one quarter (27 per cent) of those polled admitted they have been preparing for the last six months and nearly one fifth (18 per cent) say they have not done so yet.

Russell Hobby, a spokesman for the firm, said British businesses have been caught out by the downturn and remain in danger of missing the recovery too.

"Business leaders must recognise it will not be business as usual after the economic strife. Planning for the recovery starts now," he added.

In other news, it was revealed by a new Workplace Intelligence Unit report released last month that half of employees in the UK do not feel valued in their workplace.

Find and apply for summer internships, Easter internships and Placement year internships through the Internship Job Search, or use the All Jobs Search to find other types of student job vacancies and work opportunities.

Find your perfect job now!

Register now to let employers find you and be notified about the latest relevant jobs