LONDON (Reuters) – The number of British firms looking to recruit new staff has fallen to its lowest since 2010 as companies seek to squeeze more out of existing staff, a quarterly survey of personnel managers showed on Monday.
Weak productivity has been a problem for Britain for years, and 2013’s rebound in growth failed to resolve it. Instead, firms responded to strong economic expansion with more hiring, creating a record number of jobs but limiting pay rises.
The Chartered Institute for Personnel and Development said on Monday that this may start to change in 2014, with rates of hiring returning to more normal levels, though it would take longer before wages started to rise significantly.
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