roundtable: TVBMA 43
enough skilled workers coming through to meet employers’ needs. Government support for corporates – through favourable tax schemes such as R&D credits and share ownership, and the focus on an engineering- led export-focused economic recovery – was proving successful. “But, there is a bit of a mismatch on what the Government is doing in primary, secondary and tertiary education and what it is doing to encourage the corporate world. The UK leads the world in high-end engineering and manufacturing and elements of government policy don’t stack up for me. If the Government could marry up the two areas of support – education and corporate support - then I think we would see a sea change within 5-10 years that would lead to a sustainable rebalance of the economy.”
competing strongly against the traditional High Street – astute corporates were now running parallel and integrated bricks and clicks retail platforms. “We (Retail Marketing) are embracing that change and aiming to lead the retail market of 10 years ahead.” Retail Marketing has done major analytical work on the future marketplace, and is already undertaking initiatives such as alternative uses for empty shops. “We are starting to do things that no other agency is doing. The only challenge for us is ‘Have we got it right?‘”
Lane: “The challenge of predicting the future is relevant for all businesses, because if you try to keep one step ahead of the opposition then you are nine tenths of the way there.”
Thorne: “Businesses that have gone under in the latest recession have either had too much debt, the market has completely changed, or they have not kept pace with technological change.”
Embracing change was essential, said Richmond, adding: “What happened to the manufacturer of bowler hats for the City?"
Global opportunities, but local difficulties remain
Murray queried if adopting international markets and operating globally might be one challenge too far for some companies.
Dee Doyle
Thorne revealed that much of his work now involved global businesses wanting to put more investment into the UK because of the attractive tax changes made by the government. “That’s mainly at the corporate level, of course, but perhaps at the operational level more could be done to incentivise training and education, and development of some of those intangibles such as building IP.”
The Roundtable agreed with Lane that innovation, particularly in sciences and technology, was a strength of UK plc – a strength traditionally driven by good education.
“Throughout our history we have produced ‘Made in Britain’ products that are ahead of the game, then in five years time the rest of the world catches up. But, we have always stayed one step ahead. We may not be so competitive when it comes to volume manufacturing, but at the top end of the value chain, we are the best in the world.”
Adams highlighted “the gap in the middle” and the need for apprenticeships and vocational training: “The really clever will always find their way to the top, but we also need to provide jobs and the ability to upskill for those in the education middle.”
‘Made in Britain’ innovation was highlighted by Richmond. With the retail world undergoing a major ‘bricks to clicks’ change – online selling and social media marketing
THE BUSINESS MAGAZINE – THAMES VALLEY – FEBRUARY 2014
Thorne: “Successful Thames Valley businesses tend to be leading edge so most see global markets as an opportunity not a threat. Either way, technology is key to the business model, and that’s why, again within this area we see more success than in other UK areas.” But, business models are increasingly changing throughout the UK to encompass international trade, he added.
Barnes: “As a country we want our skills to improve and that has to start from education. Support for the high-growth areas such as technology and engineering is important, but they do not employ massive numbers of people, so to help the whole economy we also need a broad-based trickle through. In the Thames Valley, we plainly start from a position of strength, but if we want to go faster then
THAMES VALLEY BUSINESS MAGAZINE AWARDS 2014
David Murray
“Heathrow has already made the Thames Valley a global destination for companies to work but we could strengthen that attraction by also highlighting it as a great place to live. We have lots of good things here, but we don’t fully integrate them and market the whole as a package.”
Pratt said location had been a recruitment hurdle for the Taplow-based company (ScentAir UK). “We have recruited well up to now locally and largely by word of mouth. With our dynamic culture and passion in what we do, not to mention our fantastic customer base of many of the worlds leading fashion, retail and hotel brands we have developed an exciting and attractive workplace that prospective employees want to be a part of. There was however, a time where we were having to advertise in the West London media to get people out to Taplow. Many young, energetic people were looking towards London as the place to start their careers”.
Newbury-based PHABRIX had similar problems said Adams. “People will travel. We have employees who come to Newbury from Bristol and Chiswick, but we really feel we have achieved something as a company when they choose to move to the area and live here.”
Mike Thorne
we have to improve our education further and build the desire to live and work here rather than go to London.
Recruitment specialist Yadegari re-iterated his earlier advice: “All our clients aiming to grow seem to ask me the same: ‘How can you attract good people to come to us rather than go to London?’ The truth is that potential employers need to have all the things we have mentioned today – a friendly company culture, strong branding and marketing, a good management structure, and an interesting working environment. They will travel or relocate if you get those right. I also tell clients: “I can identify good people for your company, but whether they end up in your business will come down to you, your management team or your staff persuading the candidates that this is the right place for them to work.”
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