Despite three-quarters of the UK being confident and saying that they have the skills needed for the next 3-5 years, the country falls below the average in recognising the skills they need to do their job as it changes over the same period.
This was uncovered by a study compiled by Kineo, a workplace learning specialist owned by City & Guilds Group who said this shows a “perception gap that could lead to lower retention rates.”
It also found that the amount of learning and development (L&D) investment in the next 12 months in the UK will increase by 54 per cent, which pales in comparison to some emerging markets (EMs) like India who will see an increase of 92 per cent and Kenya with 78 per cent.
This means the UK is being left behind as other countries race to upskill their workers.
Other developed countries like the US and Australia also beat the UK with 67 per cent and 64 per cent respectively.
John Yates, group director – corporate learning at City & Guilds Group said:
Businesses worldwide are navigating a period of immense transformation – and this is particularly evident in emerging economies, where organisations are ramping up their investment in L&D as they embrace technology and hone the skills required to compete on a global stage. However, our study shows investment in skills is less of an immediate priority for employers in the UK – putting us at risk of lagging behind other, more future-focussed countries.
With the workforce becoming increasingly mobile – and the influx of overseas talent crucial to the future of British businesses – UK employers cannot afford complacency. Employers need to listen their workers’ training needs and ensure they continue to focus on upskilling – or they risk losing talent to other markets who are making this a priority. Equipping workforces with the skills to succeed in the future is a marathon, not a sprint, but those who overlook the importance of skills investment risk dropping out of the race altogether.
The study surveyed 6,500 employees and 1,300 employers across 13 international markets.