Now, 71% of businesses which have over 250 employees are unable to fill a vacancy due to a lack of appropriately skilled applicants, and 31% of roles in the UK economy are filled with people whose qualifications do not fit the requirements of the job. Yet turning to training can be a hard sell for decision makers as often they are concerned about return on investment from this option.
The UK economy has long benefited from the high quality education offered by Britain’s world-leading higher education sector. Yet despite this rich heritage, traditional educational options are not aligned to business needs. Investing in full-time education for an employee for periods of 12 months or more is not always an attractive business proposition. The return on investment from this kind of training is often only available in the medium or long-term. For businesses experiencing the difficulties of lack of correctly skilled workers, the best solution will be able to deliver a more immediate return.