AS CONCERNS grow over wage pressures building up in the UK economy, the Institute of Management today publishes a report showing that small businesses have found it harder to recruit senior staff.
Two out of five small businesses hiring new managers last year had problems, and nearly three-quarters of these cited lack of specialised skills as the main difficulty.
In 1999 the comparable figure was that just over a quarter had recruitment problems, and 60 per cent of these involved skills shortages.
The Institute, the UK's largest organisation for professional management, says: "The latest research is especially significant because 2000 saw the biggest recruitment drive for 10 years, with 74 per cent of the 125 companies taking part reporting that they had engaged in a campaign to hire new senior staff."
Because of the shortages, the pay of executives in companies with annual sales of less than pounds 60m rose by an average of 6. …