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Why does the World need professional development?

03 October 2018

Global Management Consultants McKinsey have uncovered some fascinating insights about the disparity between skills levels and skills needs that exist in 2018. In many countries, such as China, an ageing population reduces the growth rate of the labour supply, whilst in ‘young’ economies such as India and parts of Africa more adults entering the workforce are armed with professional level qualifications but without practical experience. 

‘Businesses will also need to significantly step up their activities in shaping public education and training systems in order to build pipelines of workers with the right skills for the 21st-century global economy.’ McKinsey

In Western economies the skills gap also exists. The UK, for example, has an established government investment programme to upscale workers in key areas around the country – Lincolnshire’s CC Enterprise team hold the key to a number of programmes - and throughout the UK employers can still benefit from the European Structural Investment Funds with funds earmarked until 2020.

What about nearer to home?

Hot of the press is the latest SME confidence tracker from Bibby Financial with a focus on the Midlands and East Midlands.

https://www.bibbyfinancialservices.com/about-us/news-and-insights/reports/2017/sme-confidence-tracker

This fascinating report suggests that 45% of SME’s in the East Midlands plan to invest in staff training in Q2 2018. So maybe now is the time to talk about that training gap with your boss and this time round you’ll have the hard facts to back you up!