UK Falling Behind in Global Skills Race?
New research published by City & Guilds Group, the leading global skills development body, reveals that the UK risks being left behind as employers across the world race to upskill their workers.
Emerging economies are overtaking the UK in skills development, with only 54% of UK employers forecasting a rise in L&D investment
71% of employees worldwide recognise that the skills they need are changing but only 66% of UK workers think their employer is keeping pace
As digitalisation and fluctuating economies transform the skills needed in the workplace today, employees are less confident than their bosses that they’ll have skills they need for the future.
The study found that employers in developing countries with rapidly emerging economies are among the most likely to ramp up investment in upskilling their workforce in the near future, compared to developed economies such as the UK.
As technological advances continue to transform the way we live and work, employers in developing economies are feeling the impact most acutely. While just 25% of employers in the US and 42% in the UK recognise the impact of digital transformation on their business, significantly more Kenyan (65%) and Indian (62%) employers consider this an important factor driving change. Equally, when it comes to automation and AI, the majority of employers surveyed in Malaysia (60%) and India (58%) found this to be a
The research also showed that while 71% of employees globally recognise that the skills they need to do their job will change in the next 3-5 years, only 66% of UK workers think their employer is keeping pace with changing skills – lower than the global average.
However, UK employers are much more confident in their workforce, with 75% saying they’re confident they have the skilled staff they need for the next 3-5 years. This highlights a worrying perception gap, that – unless addressed – could lead to lower retention rates and compromised service levels and opportunities as employees seek out organisations who can better meet their training needs.
Steve Ricketts Circle Recruitment MD "It is vital for businesses to have a highly skilled workforce, and also important to keep up with the everchanging skillset. We encourage our clients to keep recruitment partners involved with any decisions and policies about any future tech changes".