GETTING YOUR RECRUITMENT PROCESS RIGHT

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

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A shortage of high-quality candidates can spell disaster for your recruitment strategy. Even during times where supply is more plentiful, the best candidates will always get snapped up quickly. To make sure that you secure the best talent for your organisation you need to have a focused and efficient approach to your recruitment search.

Creating the right role. Top quality candidates are ambitious; think about what is going to appeal most to somebody and highlight opportunities for growth and progression.

Research. Find out what salary packages are currently being offered by your competitors for similar roles – and understand what candidates are looking for. In times where opportunities outstrip available talent, then you could find you need to pay more to secure the best people.

Make recruiting your priority. Recruiting can be extremely time consuming. Dedicate the time you need to interviews and try not rearrange appointments to see potential candidates. Avoid cutting an interview short by allowing sufficient time for each meeting.

Streamline processes. Most candidates would expect to have a first and second interview. Try and keep the internal decision-making process as efficient as possible by inviting anyone who needs to be involved to attend and providing prompt feedback.

Talk to your recruitment consultant. If you are interested in a particular candidate, make sure you work closely with the recruitment consultant handling your search. They will give you valuable feedback from the candidate themselves and guide you on their salary expectations and any other opportunities they might be pursuing. They will also manage the communications between yourself and the candidate so if there are any internal delays on being able to make them an offer, they can ensure that your selected individual doesn’t lose interest.

Make a strong offer. Most candidates will expect an improvement on their current salary package – however, as well as the base salary consider what additional benefits will be included. Additional holiday allowance, contributory pension scheme and flexible working hours can all be attractive.

Your offer should be competitive and be prepared to be flexible – you don’t want to pay over the odds for someone, but you may need to stretch your budget to secure the person that you want. Also, be aware that their current employer may make them a counteroffer.

Keep on top of paperwork. Make sure any paperwork is issued as soon as possible – a candidate is unlikely to resign until receiving an offer in writing.

Communicate. Notice periods can vary in length – anything from one month to three months is common. It’s good to keep in touch with your new employee from time to time during this period and, if possible, arrange an opportunity for them to meet the rest of the team they will be working with before their start date.

Sharp Consultancy specialises in the recruitment of temporary, interim and permanent finance and accountancy professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond. CONTACT US today to find out more.