Pending Skills Gap Crisis for UK Businesses
Princes Trust research reveals recruitment stigmas still exist despite 53% of businesses unable to fill positions for a year
A Prince’s Trust report revealed that 73% of UK businesses fear that a skills crisis is imminent with over half (53%) of businesses unable to fill positions for a year and 32% experiencing a skills shortage for entry level positions.
63% of the 616 business leaders interviewed stated that they are growing faster than this time last year – citing an ageing workforce and trouble finding the right talent as major concerns due to accelerated growth.
Businesses recognise the importance of recruiting and training the younger population, with 72% of employers stating that recruitment of young people is vital to avert crisis.
Despite this, research shows that stigmas surrounding youth employment still exist with 71% of businesses stating joblessness causes young applicants to be rejected and 67% stating that candidates without degrees would be disregarded.
Martina Milburn CBE, chief executive of The Prince’s Trust, urged businesses to help close the skills-gap by hiring and training youth:
“It is deeply concerning that employers are struggling to fill vacancies when we have hundreds of thousands of unemployed young people desperate for work. The current economic recovery is encouraging, but in order to sustain this growth, UK plc needs to invest in the next generation to avoid a skills vacuum in the future, which threatens to hamper economic growth.”
“We are urging businesses to take action now to up-skill the workforce of the future to prevent the bubbling skills crisis from boiling over.”