The majority of businesses are raising wages and offering more flexible working conditions as they struggle to hire and retain staff, according to a UBS survey.
The push to offer better terms and conditions comes amid an increasingly tight labor market, with widespread reports internationally of staff shortages across multiple industries, particularly in the likes of hospitality, construction and transportation.
Over 80% of respondents to the UBS survey said they are having problems with both recruitment and retention of staff. This is good news for workers who are looking for more flexibility and better working conditions, but signals challenging times ahead for businesses.
Read more at Bloomberg.