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Does it want them to compete for staff?
Big banks say they must compete for staff with foreign firms that are not subject to restraints.
Social-media start-ups rubbed shoulders with better-known names such as Moshi Monsters, a game-playing website aimed at children, and with the new breed of finance websites that connect the cash-strapped with the flush.Can such fledglings compete for staff given the pay and job security offered by established tech giants, banks and consultancies?
Chris Williamson, chief economist at Markit, said: "The Bank of England needs to determine whether pay growth will continue to accelerate as firms compete for staff, or whether low inflation will keep the overall rate of increase below levels that would normally worry the monetary policy committee into hiking interest rates".
Big groups such as GRG have the resources to cope with any change, he said, but Brexit could mean that small family restaurants struggle to compete for staff, adding to the pressure already caused by the introduction of the government's new minimum wage for over-25s, the so-called national living wage.
They argue public sector salaries in the regions are higher than the true market rate and so the private sector struggle to compete for staff.
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Diamond's answer was that Barclays must pay top dollar because it competes for staff in a global market, aiming to wrestle talent away from the likes of Goldman Sachs, Deutsche Bank and JP Morgan.
It would be almost suicidal to try to deny the teachers a significant wage hike at a time when higher-paying suburban schools are competing for staff and city students are being required to pass increasingly difficult achievement tests.
Work and other training activities competed for staff attention.
As one study participant put it: " But the challenge we have in hospital is there's always so many learning needs and opportunities out there competing for staff time when they have so very limited time…".
While, in principle, a new provider could compete for available staff (offering them more attractive terms), in practice we observed that staff transfers and secondments became a lengthy part of the process of negotiation of service redesign.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com