UK business leaders are calling for the government to prioritise initiatives that help foster a skilled workforce, as nearly two-thirds of bosses say a lack of key skills is hampering their growth prospects.
A global PwC survey of more than 1,300 chief executives reveal UK business leaders are more concerned about the availability of key skills than any of their Western European counterparts, rating it as the greatest threat to their company growth.
The research shows businesses are looking to the government to help them plug this skills gap.
Three out of four UK CEOs said creating and encouraging a skilled workforce should be the Government’s highest priority for business for the year ahead.
This is in contrast to businesses’ own immediate investment priorities, with only a third of UK CEOs placing filling talent gaps as a major priority for the year ahead.
Instead, they see it as a longer-term goal; with 70% of respondents saying they plan to increase investment in their workforce over the next three years.
The study reveals that mining, energy, and engineering and construction companies are experiencing a chronic shortage of skilled employees, and mirrors findings from the 2012 Northern Lights report into skill shortages in the oil and gas industry.
Erika Campbell, human resources director at PwC in Aberdeen, said: “Companies in Scotland and across the UK are struggling to cope with the widening mismatch between the skills of their workforce and the skills needed to achieve strong growth.
“It is vital that government, business and academia work together to plug the skills gap. In the case of the oil and gas industry, the creation of an Aberdeen energy academy will be a significant piece in this jigsaw. Apprenticeship programmes are another great example of where business and the government can work together to tackle this issue.
“With almost half of the oil and gas industry workforce currently over 45, an injection of fresh talent is needed to guarantee a ready supply of skilled labour over the coming years. This supply of appropriately-skilled labour continues to be the greatest threat to Aberdeen’s ability to become a global energy centre of excellence.”
The CEO research also reveals that UK businesses are planning to hire this year, with more UK businesses looking to increase their headcount (45%) than make cuts (35%).
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