STRATEGIC HIRING - HOW TO GET AHEAD OF THE CURVE

Economic Outlook Roundtable: What Yorkshire’s Finance Leaders Are Saying About Growth, Hiring and the Road Ahead

Senior finance professionals from across Yorkshire recently joined Sharp Consultancy for an exclusive roundtable discussion featuring an economic update from Paul Mount, Economist and Deputy Agent at the Bank of England. The session provided a timely, in-depth look at the UK’s economic landscape — followed by a candid conversation about what businesses are experiencing on the ground.The picture that emerged was one of cautious realism. While official forecasts point to easing inflation and a gradual return to stability, many organisations across the region continue to navigate weak demand, rising labour costs, tightening legislation and stalled investment projects. Yet despite these pressures, there remains a strong sense of resilience and adaptability — qualities that have long defined the Yorkshire business community. At Sharp Consultancy, our specialist finance and accountancy teams speak daily to employers and professionals across commerce, industry, public practice and the not-for-profit sector. What we heard in this session closely aligns with the insight we gather from clients and candidates across the region. Below, we explore the key themes shaping business confidence, recruitment activity and the outlook for 2026. Inflation Is Easing, but Confidence Has Yet to Follow The Bank of England outlined its latest central forecast: Inflation expected to gradually return toward the 2% target. GDP growth set to remain modest but stable through 2026. Interest rates anticipated to settle around 3.5% based on market expectations. Unemployment projected to hold near 5%. However, the sentiment in the room was clear: despite improving headline numbers, confidence across most sectors remains fragile. Many organisations described the environment as “flat” — not contracting, but unable to capitalise fully on opportunities due to economic uncertainty. Sharp Consultancy continues to see this play out: businesses are stabilising rather than expanding, focusing on cash management, operational efficiency and carefully controlled hiring. Labour Costs Continue to Reshape Workforce Strategies Wage pressures were a recurring theme throughout the discussion. Employers highlighted: Significant increases to the National Living Wage. Higher employer National Insurance contributions. Expected future changes to minimum wage equalisation for younger workers. Rising cost and complexity associated with apprenticeships. These factors are pushing up costs at every level of the workforce and reshaping recruitment behaviours. Across Sharp Consultancy’s accountancy and finance divisions, we are seeing: Strong demand for replacement hires where roles are business critical. Lower volumes of growth hires, particularly in commercial and project-focused appointments. Clients increasingly prioritising candidates who bring breadth, adaptability and long-term value. Construction & Infrastructure: Capacity Under Pressure Leaders from the construction sector painted a challenging picture — one mirrored by many Sharp Consultancy clients operating across the wider built environment. Key themes included: Planning delays of 9–10 months, particularly related to the Building Safety Act. Businesses holding on to workforce capacity despite reduced margins — a strategy that may not be sustainable in 2026. Difficulty justifying new capital expenditure under IFRS when future cashflows are uncertain. Concerns that smaller subcontractors may not withstand prolonged delays or reduced demand.Yet, attendees also highlighted that construction could become a catalyst for economic recovery — provided policy reform and planning improvements unlock stalled projects. Manufacturing: Rising Costs and Shifting OperationsLeaders representing manufacturing shared concerns around: Rising energy and operational costs. Increased frequency of site closures and offshoring. Significant challenges in attracting engineering and technical talent. Early signs of contraction in several sub-sectors, with aerospace a notable exception. These pressures reinforce the growing importance of finance leaders who can model scenarios, manage volatility and guide long-term planning — roles Sharp Consultancy continues to support across the manufacturing landscape. Charity & Public Sector Organisations Facing Acute Strain For organisations reliant on local authority funding, the challenges are particularly stark. Attendees reported: Government and council funding caps. Rising NI, wage costs and VAT changes adding millions to annual budgets. Increasingly complex consultation requirements under forthcoming employment legislation. The likelihood of significant cuts to the frontline services in the months ahead.Sharp Consultancy’s continues to work closely with organisations navigating these pressures, supporting clients through restructuring, recruitment challenges and financial planning needs. Recruitment Outlook: Stability Over Expansion Across sectors, the message was consistent: 2026 is expected to be cautious, steady and focused on maintaining capability rather than expanding headcount. Attendees forecast: Workforce levels remaining broadly flat. Hiring driven by essential replacement roles. Transformation, M&A and large-scale project hiring likely to remain subdued. Improved recruitment confidence only once interest rates and policy direction stabilise. For employers, this means sharper competition for high-quality finance talent — an area where Sharp Consultancy’s specialist teams continue to provide targeted, market-led support. What Comes Next? A Slow but Steady Rebuild Despite the challenges discussed, the roundtable ended on a constructive note. Many leaders believe that once interest rates settle and stalled investment begins to move, the region could see a more meaningful upturn — potentially from 2026 onwards. Yorkshire businesses have proven time and again that they are resourceful, resilient and ready to adapt. Sharp Consultancy remains committed to supporting them through every stage — whether stabilising teams, recruiting future leaders, or navigating the next phase of growth. If you’d like to understand what these economic trends mean for your business or team, speak to our specialist consultants for a confidential market discussion. Contacts Us

Read article

Consensus. Normally it’s hard to get more than five people to agree on the time of day so it’s unusual to have such a wide consensus, consensus across hundreds of businesses and business leaders, but my anecdotal evidence is that we have just that. So what is the consensus I refer to? Just this; everyone agrees that no-one has any real idea what the next 12 months will bring. Forecasting is nigh on impossible and this would be highly amusing if it wasn’t so serious. A CFO friend of mine told me that the auditors had queried his going concern forecast. Fair enough. He asked them how they would do it differently and if they had further ideas or information that could make it more certain. The forecast stood.

And that’s the problem; how do you run a business when you really have no idea what is going to happen, when the variables are so great and there has never been so many ‘what if’s’. I can’t say I can answer that any better than anyone else.

I do know though that quality management teams nearly always find a way. Sometimes there is no solution to be found and that is terribly sad, but on the whole the best teams find a way forward. However, ‘good’ in a pre-covid economy may not be ‘good enough’ in a post-covid economy. The qualities needed to navigate a ship in calm waters may no longer be sufficient in one hell of a storm. This is praying on the minds of investors, lenders, owners and management teams a lot at the moment. I have heard of so many inspirational stories since March it just shows what is possible when the chips are down. I’ve also heard of some less inspirational stories too.

Strategic hiring is something we normally associate with a benign or growing economy, when the future looks pretty certain and rosy, where key people are tracked for some time before finally
being fitted in as the perfect peg in the perfect hole. Measured, thoughtful, careful, strategic hiring all as part of a five year master plan. Horizons are no longer five years. Or three. Three months more like and that’s stretching it on occasions.

If we accept that the only certainty is uncertainty that at least gives a business something to plan around. In turn that allows businesses to assess their capacity to cope with change, rapid and sometimes unforeseen change. You may not know what’s around the corner but you can know whether you have the capabilities to not only cope but also to extract every ounce of opportunity from whatever that ‘corner’ brings. In short, you can think strategically about your management team’s capabilities and you can and should make strategic hires before the need arises, in the knowledge that when the need becomes suddenly apparent it will already be too late to fit that perfect peg in the perfect hole.

Demand for many skills will change and for some reduce over the next year. Demand for those that can manage change and excel under stress though will be huge; supply is already diminishing.
Given the chance and a little time we at Sharp Consultancy almost always find that perfect peg. Give yourself the time to get ahead of the curve (or should that be corner) and give me a call.

Sharp Consultancy has a vastly experienced team of Executive Search consultants specialising in identifying, selecting and placing senior finance professionals in roles with owner managed
businesses, corporate plcs, private equity and venture capital firms and leading accountancy practices throughout Yorkshire, the North West and beyond. CONTACT UStoday to discuss your recruitment needs with a member of our team.