Skill Shortage Crisis In the UK: Could it be your next best opportunity?
⦾ Study Abroad News
-By LeapScholar
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78% of firms in the UK have reported decreased productivity, profitability & growth! Why?
The Business Barometer report reveals that ⅔ of firms are struggling to find the right talent. There is reportedly a severe "Skills-shortage.”
The Open University (OU) with the British Chambers of Commerce (BCC), surveyed more than 1,300 organisations of all sizes across the 4 nations from the public, private & third sectors. They have revealed some interesting facts.
The findings of the Survey
1. More than two-thirds (68%) of the SMEs businesses acknowledged that they were having trouble keeping up with the demand for labour.
2. The consequence of skills shortages is increasing the burden on other employees, according to nearly 72% of the organisations.
The findings of the Survey
3. 28% of businesses have to turn down work or are not able to bid for work cause of this shortage.
The findings of the Survey
Skilled Shortage occupation list
1. Health sector job2. Teachers 3. IT professionals4. Engineers5. Designers, producers & directors
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It was inevitable that there would be structural changes in the organisation as automation grew. The ageing population finds it difficult to use today's technologies, which also creates a significant lag.
As a result of this, there may be a nearly 20% increase in demand for jobs in management, technology, & health by 2030.
In the upcoming years, more than half (52%) of big organisations and at least 47% of SMEs will invest in the training and development of their staff.
While this is a concerning matter for businesses in the UK, it is also a great opportunity for highly skilled individuals to be the game changer for many businesses.
Strategically planning, experts have suggested that roles in the future will require great leadership skills, digital skills, communication and decision-making abilities. Companies are to be on the lookout for the same.
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