The threat of skills shortages and talent gaps are a major concern for UK companies at the moment, On Rec reports. According to findings published in The Workforce Review – a study on the views of both employers and staff, conducted by ADP – companies are not investing enough in training and development, which threatens to cause a major talent gap in UK industries.
Half of all workers felt that budget cutbacks and reduced hiring were causing talent gaps in their organisation, up from last year’s figure of 37%; while a similar number (46%) believed these skills gaps were the result of inadequate training and development.
Other contributing factors include a lack of recruitment and losing skilled staff to rival companies, and even to those abroad. In fact, more than a third (38%) of respondents said that losing staff to other organisations was a major threat. For 29% of respondents, seeing their talent drain to other countries was also a significant concern – up more than 10% from last year’s report.
Overseas markets are particularly appealing for those working in the IT sector, but interestingly more than half (53%) of IT professionals also felt threatened by an inflow of international workers coming to the UK.
ADP’s HR director Annabel Jones commented on the findings, noting that while the economy is improving and businesses are gaining confidence, many remain reluctant to invest actual money into developing their workforce. Whether that’s by not hiring the best talent – or enough of it – not giving their staff enough training opportunities, or not doing enough to retain the most talented members of their team; more needs to be done to close the skills gap.
“With new opportunities on the rise it’s crucial to dedicate time to motivating, engaging and rewarding employees effectively, so they feel appreciated and challenged where they are,” she added.