A majority Government will have a positive impact on the compliance sector, in terms of business growth and employment needs, according to an industry survey just published.

More than two-thirds of compliance professionals polled stated that the General Election result will enable companies to increase turnover, while boosting staff numbers. The research – carried out among more than 100 sector specialists – revealed that in the last 12 months nearly half of respondents saw their workforce stagnate or reduce in size. In addition, the survey showed that retaining and finding skilled employees was one of the biggest challenges facing the compliance sector (50 per cent), with 65 per cent of people admitting that this factor has impacted on the business’ success.

Richard Abelson, director at specialist recruitment consultancy, MERJE, which conducted the research, commented: “Two months on from the General Election result, the sentiment amongst compliance professionals is positive. While 58 per cent of companies have experienced an increase in their workforce over the last 12 months – witnessed across multiple disciplines, including legal, operations, financial crime, risk and international business development – the political result clearly shows a renewed confidence for the remaining businesses.

“The issue of attracting the best talent to the sector remains a significant obstacle within compliance, coupled with the ongoing problem of the legislative burdens being placed on the profession.” The research carried out amongst members of the International Compliance Association (ICA), also showed that of those surveyed 67 per cent of companies have already experienced an increase in turnover or profits in the last 12 months.