NEW TECHNOLOGY ADOPTION CREATING POTENTIAL EMPLOYMENT CRISIS IN EUROPE

New technologies have already started to change staff requirements in the majority of European companies, leaving employers to face a huge skills gap as they struggle to find suitable staff, a new business survey shows.

62% of European businesses say new technologies have already changed their employment needs, resulting in a requirement for higher skilled positions in 59% of firms. In addition, the survey, conducted by The European Business Awards sponsored by RSM, also shows that 40% of businesses are finding it a challenge to recruit for these new positions.

The main reasons cited for the challenge are a lack of available IT and software solution specialists combined with a lack of high-level training and education available in country; market constraints that are leaving traditional sectors over-looked in favour of tech and financial sectors.

Adrian Tripp, CEO of The European Business Awards, Europe’s largest cross-sector business competition, said: “We wanted to investigate how quickly the consequences of the new wave of technology would affect the European business community and the jobs market, and we found it is not simply an issue for the future, but the impact has already begun.”

He continued: “The concern is that as the rate of technology adoption increases the positive impact on competitiveness could become constrained by skills shortages. The increasing mismatch in the skills required and those that are available will lead to an employment crisis unless all stakeholders - business, educators and government, act now.”

Mr. Tripp concluded: ‘At a ‘100% Growth’ conference we will be holding in May business leaders from some of Europe’s most successful mid-market businesses will address this and other key business issues. We hope to find solutions that will help fill the gaps.”

The survey, which included responses from 400 leading European businesses, of all sizes and sectors from 30 plus countries, also showed that whilst technology was changing needs, it was not necessarily changing numbers. 77% of businesses said new technologies have made them more productive which has resulted in 35% of businesses increasing staff numbers overall and 44% keeping numbers the same.

The main motivators for investing in new technology (defined as new software that radically changes how something is produced or performed) were to give companies a competitive edge (57%), to solve business issues (21%) or simply to keep up with the changing market (11%).

The European Business Awards is now in its 11th year and its primary purpose is to support the development of a stronger and more successful business community throughout Europe. Last year it engaged with over 33,000 businesses from 34 countries. Sponsors and partners include RSM, ELITE and PR Newswire.

This year’s Awards Grand Final will be held in Warsaw, Poland on 22 and 23 May. Further information on this year’s competition or previous winners can be found on the website www.businessawardseurope.com

ENDS

For further press information or for case studies/interviews, please contact: EBA: Vanessa Wood at the European Business Awards on +44 (0) 796 6666 657 or email vanessa.wood@businessawardseurope.com RSM: Gillian Hawkes at the RSM Executive Office - gillian.hawkes@rsm.global

About the European Business Awards:

The European Business Awards’ primary purpose is to support the development of a stronger and more successful business community throughout Europe. The European Business Awards programme serves the European business community in three ways:

• It celebrates and endorses individuals’ and organisations’ success

• It provides and promotes examples of excellence for the business community to aspire to

• It engages with the European business community to create debate on key issues

The European Business Awards is now in its 11th year. Last year it engaged with over 33,000 businesses from 34 countries. Sponsors and partners include RSM, ELITE, PR Newswire, Bureau Van Dijk and SDL Managed Translation. www.businessawardseurope.com. Twitter: @rsmEBA Facebook: www.facebook.com/businessawardseurope LinkedIn: the company page “The European Business Awards”

About RSM:

RSM is the sixth largest network of independent audit, tax and consulting firms, encompassing over 120 countries, 800 offices and more than 41,400 people internationally. The network’s total fee income is US$4.9 billion.

As an integrated team, we share skills, insight and resources, as well as a client-centric approach that’s based on a deep understanding of our clients’ businesses. This is how we empower them to move forward with confidence and realise their full potential. RSM is the lead sponsor and corporate champion of the European Business Awards promoting commercial excellence and recognition of entrepreneurial brilliance.

RSM is a member of the Forum of Firms, with the shared objective to promote consistent and high quality standards of financial and auditing practices worldwide.

RSM is the brand used by a network of independent accounting and advisory firms each of which practices in its own right. RSM International Limited does not itself provide any accounting and advisory services. Member firms are driven by a common vision of providing high quality professional services, both in their domestic markets and in serving the international professional service needs of their client base. www.rsm.global

About ELITE:

ELITE is a full-service programme designed to share best practice and increase growth opportunities for fast growing companies, with a focus on understanding the capital markets. ELITE is an innovative programme based on exclusive training and a tutorship model, supported by access to the business and financial community. Its aim is to prepare companies for their next stage of growth and investment.

For further information on the programme, companies and the full list of partners, please go to: www.elite-growth.com

About PR Newswire:

PR Newswire is the leading global provider of PR and corporate communications tools that enable clients to distribute news and rich content. We distribute our client’s content across traditional, digital and social media channels in real time with fully actionable reporting and monitoring. Combining the world's largest multi-channel, multi-cultural content distribution and optimisation network with comprehensive workflow tools and platforms, PR Newswire enables the world's enterprises to engage opportunity everywhere it exists. PR Newswire serves tens of thousands of clients from offices in Europe, Middle East, Africa, the Americas and the Asia-Pacific region.

For more information on PR Newswire please visit www.prnewswire.co.uk

Other partners and sponsors:

Bureau Van Dijk: Bureau Van Dijk is a Moody's Analytics company which captures and treats private company information for better decision-making and increased efficiency. With information on over 275 million companies in all countries worldwide it is the resource for private company data. Certainty is a highly-prized commodity in business and BVD provides its customers with the best quality data available. Register for a free trial at www.bvdinfo.com

SDL Managed Translation: SDL is the global innovator in language translation technology, services and content management. For the past 25 years, SDL has created transformative business results through nuanced digital experiences with customers around the world. For more information about language services and technology, or with help going global quickly and efficiently, please email mantra@sdl.com or visit www.sdl.com/managed-translation

Founder Patrons: The four Founder Patrons are AirX, Megazyme, Alpha Trains Group and Remedica; all members of the European Business Awards community. These successful businesses are gleaming examples of the Awards’ core values: Success, Innovation and Ethics. Through patronage, they help to foster and create more successful companies and business communities in Europe. For more information about the founder patrons please visit /patrons