New study shows businesses across the North West are keen to take on young people but need ‘better access to talent’. Tony McDonough reports

Firms across the North West are “ready to invest in young people” but say they need better access to suitable candidates to help them invest.

According to the latest Lloyds Business Barometer, 60% of North West businesses have recruited early careers talent in the past year. Of those who recruited, 95% plan to continue investing in talent in the year ahead.

When asked what factors would most increase their confidence to invest specifically in early careers talent, employers highlighted access to people and information.

A third identified better access to suitable candidates as the primary catalyst, while 28% cited better information on the support that’s available.

Nearly a quarter also reported that finance to smooth their cashflow until training pays back (24%), simpler apprenticeship and training schemes (23%) and finance to manage the upfront costs (22%) would increase their confidence to invest in early careers workers.

This confidence extends to the wider skills investment picture where more than four in five North West businesses (83%) are confident they can secure the capital required to invest in training, apprenticeships or new hires over the next one to three years.

Of the types of skills businesses need, customer service and relationship management (41%) was the most cited by businesses followed by sales and business development (35%) and financial management (24%).

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Jenny France, area director in the North West at Lloyds, said: “It’s important we’re giving opportunities to young talent to help them take the first step on their career journeys, so it’s encouraging so many firms in the North West are expecting to continue providing those vital early careers roles over the next year.

“Investing in skills is an investment in our long-term prosperity. At a time when technology is evolving at pace, technical knowledge is significant, but firms are clear that the softer and more interpersonal skills are also crucial and need to continue being developed.”