21 Feb 2011

R and D investment just not enough - survey

7:30 am on 21 February 2011

A new survey has found that the country's businesses are not investing enough in research and development to ensure they keep ahead of foreign competitors.

Deloitte's Talent Edge New Zealand surveyed 360 employers and found four out of five firms can't get the workers they need, and it's crimping profits.

Firms are lacking specific types of employees and skills, particularly managers, IT professionals and chartered accountants, and they expected the shortage to worsen as the economy improves.

More worrying, says Deloitte partner Richard Kleinert, is that only 8% of firms struggle to find research and development staff, which drives innovation.