Companies must snap out of their survival mode to keep staff and customers

A fifth of British companies need to snap out of survival mode and invest in their staff before the National Living wage is introduced. Otherwise they may end up losing business.

That is according to a new report from the CIPD. The report says that a fifth of British companies are stuck in survival mode. That means that they are neither investing in new equipment nor in their staff.

Mark Beatson is the CIPD’s Chief Economist and the author of the report. He warns that companies that don’t invest in people or technology risk losing business to their competitors.

Beatson tells Executive Grapevine: “Businesses can end up in a vicious cycle of low performance and low investment leading to even worse performance as competitors pull ahead.”