Food manufacturers face skills drain unless wages rise

By Nicholas Robinson contact

- Last updated on GMT

Roger Martin-Fagg spoke at the British Frozen Food Federation Conference on February 20
Roger Martin-Fagg spoke at the British Frozen Food Federation Conference on February 20

Related tags: Economics

Food firms face a skills drain, unless they raise wages in line with economic growth, a leading economist has warned.

Speaking to FoodManufacture.co.uk in this exclusive podcast, Roger Martin-Fagg, of Ashridge Business School said: “It’s one of those paradoxes​. What makes sense for the individual business often doesn’t make sense for the economy.

Wages growing at 3% plus

“For the economy we want to see wages growing at 3% plus this year, but of course that puts margin pressure on individual businesses.” ​A tendency to “award the minimum” ​would not be enough to maintain staff, he added and said employers must increase pay as much as they can.

If companies can afford to pay more money to their employees, it will bring benefits to the business in the long-term, although it would not feel like that in the short-term, he said.

Meanwhile, visit Foodmanjobs​ to view the latest career opportunities in the sector.

Related topics: Frozen, Services

Related news

Show more

Related products

Made for Trade – The International Trade Report

Made for Trade – The International Trade Report

Walker Morris | 23-Dec-2021 | Technical / White Paper

In the latest report from Walker Morris, 'Made for Trade – The International Trade Report', we provide insight and investigation into the challenges...

Carbon Reduction for Large Energy Users

Carbon Reduction for Large Energy Users

ESB Energy | 12-Nov-2021 | Product Brochure

ESB Energy Business Solutions can help you meet your companies carbon targets by 2050. We offer a range of sustainable tailored solutions to reduce the...

How to choose a specialist ERP solution

How to choose a specialist ERP solution

Columbus | 25-Sep-2020 | Technical / White Paper

An out-of-the-box solution isn’t enough for food businesses. You need a specialist ERP system that will cater to your specific industry requirements and...

Related suppliers

Follow us

Products

View more

Webinars