NEW London Chamber of Commerce and Industry announces results of Q1 2022 Quarterly Skills Survey

The study interviewed 502 London business leaders from micro to large-scale companies and analysed the skills needs of London businesses. The latest survey focuses on the transition to net zero and how businesses are becoming more sustainable. In particular, it assesses the role green skills have to play in facilitating this transition. The results suggest that access to the right skills is imperative to help businesses reduce their carbon emissions, and those businesses that have greater access to these skillsets have progressed further in their journeys towards net zero. It is clear from the results that the overwhelming majority of these were large businesses.

Key findings from the Q1 2022 Quarterly Skills Survey:

Recruitment and training in London

During Q1 2022, recruitment activity increased slightly in London with 19% of businesses responding that they had sought to hire. Responses based slightly based on business size.
Hiring by micro companies (0-9 employees) rose in Q1 2022 and reached a two-year high, with 15% of firms looking to take on new staff. However, recruitment by larger firms (defined as 10 or more employees) fell back from 69% to 59%.

Carbon action and skills requirements

The survey provided an insight into where businesses consider themselves to be on their journeys to net zero. 24% of businesses said they had already achieved their targets or were in the process of reducing emissions, while 28% of businesses plan or intend to enact plans to reduce emissions.
Responses varied greatly depending on business size and sector. Large businesses (250+ employees) were twice as likely as micro firms to say that their company had achieved its carbon emissions targets, or that they were in the process of reducing emissions – 53% vs. 23% respectively.
In terms of business sector, manufacturing companies were more likely to already be in the process of reducing emissions or planning to lower them (75%), compared to their counterparts in services (49%). One fifth (22%) of service sector businesses were not planning to take any action at all, a much higher number than in manufacturing (5%).

Necessary green skills

Once again, responses varied greatly depending on business size. While three-fifths (60%) of large businesses said they were able to access all or most of the skills they need, micro businesses were more likely to say that they only had access to a few or none of the skills required to lower carbon emissions.
Nearly half (46%) of London businesses said they do not have access to all of the skills they need to lower their carbon emissions. London businesses cited the greatest need for the following skills: recycling collection and treatment (27%), green finance (19%) and energy economics (18%). One third (35%) of companies also reported a demand for green procurement skills.
Businesses that reported a lack of access to necessary skills were also asked what steps (if any) they would take to acquire them. Two-fifths (42%) of companies said they would look to train existing staff, followed by using contractors (29%), while 15% said they would hire new staff.

The full report is available to view here.