In spite of a challenging economic climate and the tough conditions facing British businesses, a new study has revealed that the vast majority of firms are not planning on cutting back on staff in the near future.

Conducted by Right Management, the survey found that 81 per cent of respondents said there will be no redundancies at all in the next six months, indicating that businesses are confident that they can continue to operate as they are.

David Miller, managing director of Right Management UK and Ireland, said: "Companies appear to be staying resilient in the face of tough economic conditions and retaining staff, which is reassuring."

Yet given that 41 per cent revealed how they do no workforce planning or management, their business insurance policies may have to come into play in the future if they find themselves in trouble as a result of failing to plan ahead when it comes to staffing levels.