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- Jo Faragher
Skills shortages in sectors such as mining, energy and engineering could hamper the growth of UK businesses, according to a survey of CEOs by consulting firm PricewaterhouseCoopers.
PWC’s global survey of more than 1,300 CEOs found that almost two-thirds of UK business leaders were most concerned about a lack of key skills being a threat to growth.
UK leaders also feel that the Government should do more to help plug the skills gap, with three-quarters of CEOs saying creating a skilled workforce should be the Government’s highest priority in the year ahead.
There was positive news for recruiters in the survey, which revealed that more UK businesses are planning to increase their headcount (45%) than make cuts (35%).
However, finding skilled workers to build growth is a long-term, rather than an immediate priority for 70% of respondents. This is the percentage of UK CEOs who plan to increase investment in their workforce over the next three years, according to PwC. Only a third see it as a major priority for the year ahead.
Laura Hinton, human resources consulting partner at PwC, said: “UK businesses are struggling with a widening mismatch between the skills of their workforce and the skills they need to achieve strong growth. There needs to be a joint approach to addressing the problem, with business and Government working together to plug the skills gap.”
She added: “Despite the difficult economic backdrop, it is encouraging that UK businesses are continuing to hire. While headcount has been an obvious target for cost cutting in the past, many business leaders are finding smarter ways to strip costs out of their business which won’t damage their employees’ engagement and leave them with talent shortages in the future.
“The most successful companies will combine recruitment with developing the people they already have. Those with a balanced approach to growing their own talent and buying in key skills are most likely to succeed.”
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