May 11, 2023
The UK economy has faced numerous challenges in recent years, from the impact of Brexit to the fallout from the COVID-19 pandemic, and, now the cost-of-living crisis.
UK job vacancies currently sitting at 1.134 million, emphasises the urgency in addressing the skills gap, while acknowledging a need for greater collaboration.
With the skills gap widening, it will continue to prevent businesses from growing and innovating, leading to higher levels of unemployment and social inequality. It can also lead to high levels of unemployment and social inequality.
One of the reasons we have a skills gap is the rapid pace of technological change. New technologies are emerging at an unprecedented rate, and many workers lack the skills needed to adapt to these changes. Sectors including hospitality, drivers, horticulture, agriculture and social care are those suffering most from the labour shortage.
The Government needs to work with employers to identify the skills needed for the jobs of the future and invest in education and training programmes to develop these. To do this, there is a need for greater collaboration between different sectors.
Last year, in partnership with The Purpose Coalition, headed by Former Education Secretary Rt Hon Justine Greening and Lord Walney, Pertemps produced a Levelling Up Impact Report highlighting the work by Pertemps in helping jobseekers who may have experienced barriers to employment, including young people, ex-service personnel, ex-offenders and those from disadvantaged backgrounds.
Collaboration is essential for innovation and growth. There needs to be a greater emphasis on cross-sector partnerships. This can involve bringing together different stakeholders, like businesses, universities, and government agencies, to work towards common goals. It can also involve creating networks and platforms that facilitate knowledge-sharing and collaboration between different sectors.
The need for closer cross-sector working is particularly pressing in light of the Covid-19 pandemic and cost of living crisis, which has highlighted the importance of partnerships in responding to global challenges.
Businesses are leveraging technology and automation to upskill employees through e-learning platforms, online training courses, and virtual reality simulations to help employees develop new skills and knowledge. Pertemps has made significant investment in employees’ growth and development, by providing the best online professional development experience, to provide employees a personalised, innovative and data-driven learning experience.
We also need to remember that creating a more diverse and inclusive workforce can help to address the skills gap. By tapping into a wider pool of talent, businesses can find employees with a wider range of skills and experiences. This can involve actively recruiting from underrepresented groups, as well as creating an inclusive workplace culture that supports diversity and promotes equality.
So, while there have been some periods of growth and prosperity, there are concerns that the UK economy is in the same situation as it was in 1980, with the unemployment rate three times higher than figures previously suggested, with a slowdown of inflation and with the consumer price index 10.1% higher in January than a year before.
However, it’s important to note that there are significant differences. The economy has weathered many storms over the years, and there are reasons to be optimistic about the future.
By working with policymakers and businesses together, investing in education and training programmes and developing new technologies, the UK can create a more resilient and innovative economy that is better equipped to tackle the challenges of the future.