Euro currency issues threaten business meltdown

IT recruitment specialists Sanderson Recruitment has warned that the introduction of the Euro into the UK threatens to cause a nationwide business meltdown with many firms failing to take on board the sheer size of the task associated with the expected currency change.

The recruitment specialists has indicated that many firms are ‘staggeringly under prepared’ for what will be the most radical currency changeover in history, and as a result businesses will be over run with problems.

Chairman Mike Beesley said: “The currency change will affect everybody’s lives in a fundamental way, yet most organisations haven’t even begun to consider how they tackle the changes. Unless the situation changes very quickly and businesses start to plan ahead, major problems are inevitable.

“Perhaps because of the magnitude of the task, many businesspeople are burying their heads in the sand and plan to leave it to the last minute before tackling the issues it raises.

“Independent estimates already claim that the introduction of the Euro into the UK will cost businesses four times as much as dealing with Y2K compliance because it is so much more wide-ranging and will take far longer to address.”

Mr Beesley also claimed that time was running out for many businesses, he added: “The rest of Europe has already adopted the Euro and Britain will not be lagging far behind - a referendum is likely during this term of Government. As we get closer, the costs of dealing with the task are likely to rise even higher.

“Just as there was a skills shortage of people capable of confronting the Millennium Bug threat, so there will be a real squeeze on sufficient numbers of IT people capable of managing Euro issues. They will be the real beneficiaries, demanding as they can, very high contract or salary rates. They are in a sellers’ market.”

Sanderson Recruitment estimates that the rate paid to freelance IT professionals could treble as demand for their services reaches a peak. (MB)