Manufacturing Leaders are crucial to capitalise on the Boris Bounce
After two and a half years of inertia the manufacturing sector is finally coming out of imposed hibernation caused by Brexit.
The impact of ‘dither and delay’ – coined by Prime Minister Boris Johnson – has been widely felt as indecision and uncertainty has resulted in an unwillingness by businesses to commit to invest for fear over what the future might hold.
But that is changing with Britain set to finally leave the European Union. Without doubt the ‘Boris Bounce’ is having an effect. Businesses are displaying far more confidence and a willingness to place orders and invest now there is far more less uncertainty.
Since the election, we had begun to notice this change in our discussions with manufacturing executives. In our conversations, it was easy to detect there was far more optimism in their outlook, orders were starting to increase, and the purse strings were being loosened for investment.
We were just picking up that vibe through informal discussions, but there has since been hard evidence to back that up.
The headline on the CBI’s latest quarterly report on UK manufacturing gave that clear indication as it boasted ‘UK manufacturing business optimism improves at the strongest pace since 2014’.
Anna Leach, CBI Deputy Chief Economist, said: “With business optimism improving at its fastest pace since 2014 and some of the squeeze on investment plans lifting, it’s clear manufacturers are entering the new year with a spring in their step. Firms are now planning to invest more in plants and machinery, which will ultimately help increase capacity and output.”
These are shoots of recovery, as everyone in manufacturing is aware that output and orders have remained on a downward trend while Parliament prolonged the Brexit process.
There is still a way to go as we’re only at stage one as there remains the not-so-small matter of the trade agreement with the EU as well as an eye on what new trade deals the UK agrees with nations across the world.
As the political hierarchy proceed, closer to home, it is important that your business capitalises on the optimism and the opportunity to grow. We’re feeling the benefits of the ‘bounce’ as we have seen an increase in the volume of enquiries for our services from manufacturers.
Businesses that are looking to make the most will need the right people in situ. The creative thinkers, the decision makers and the leaders that know how to make the most of this opportunity.
The demand for the best talent will increase as a result of this Boris Bounce. It is crucial that businesses don’t overlook having the right people to lead as they fill up the order books and invest in new equipment.
Clarico’s Manufacturing Talent Acquisition System can play a decisive role in your recruitment strategy to ensure your business capitalises on the new wave of optimism.
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