Progress has slowed – 70% admit that they underinvest in their staff
- 70% of UK employers admit not investing in personal development.
- Professionals feel more pressure now than they did 12 months ago to upgrade their skills.
- 54% of professionals say they don’t receive any opportunities for personal development
- 45% of employers place the blame on company-wide cost reduction
- Younger staff most at risk of ‘inadequate’ skills funding
- Mentorship and coaching are deemed the best upskilling initiative by 39% of professionals
70% of UK employers confess that they don’t invest enough in the personal development of their employees.
Over three-fifths of UK professionals (66%) say they feel more pressure now to upgrade their skills than a year ago.
The UK Government announced policy changes last year to promote new skills across the country. AI and emerging technology will continue to be prevalent in the future, and many employers are already experiencing skills gaps. It is evident that there will be a greater demand for upskilling programs by 2025.
Robert Walters, a talent solutions expert, has conducted research that highlights the growing issue of employers underinvesting in this area.
According to the British Chambers of Commerce (BCC), over three-fifths of UK organisations are currently experiencing a skills shortage.
Chris Eldridge comments: The UK is facing a growing shortage of key skills due to a combination of factors including the aging workforce, tightening budgets, and advances in AI.
Limited investment = tighter budgets
Over half of UK professionals (54%) report that they are unaware of the personal development opportunities offered by their employers.
Only a fifth (25%) of professionals say their employer provides them, despite the fact that skills-based training is most commonly offered.
When asked what factors prevented them from allocating additional resources to training and upskilling in the UK, 45% said organisational-wide cost reductions.
Another 22% stated that they did not have the time to implement these programs. 18% mentioned uncertainty over the return on their investment, and 15% struggled to find appropriate courses/trainers.
Many organisations do not see them as essential, more concerned that the staff they do invest in will leave before it makes a difference to business performance and profitability. They are not seen as important by many organisations, who are more worried that their staff will leave before they can make a significant difference to the business’ performance and profitability .”
Most likely to be at risk of reduced skill spending
Robert Walters Benefits Reporting shows that only 35% of current junior professionals receive personal development funding. This is despite the fact that over half of junior professionals (57%) say they would be more willing to accept a position if it included such a provision.
In the same way, 48% say that they “rarely” get to learn new skills at their current job.
Chris’s comment: It seems that those professionals who are most at risk from employers cutting their training and development funds, would also be the ones to benefit the most.
The skills you acquire in your first years of professional experience will serve as a basis for all the experiences you gain throughout your career. These professionals are setting themselves up for career stagnation by not having access to adequate upskilling options now.
No more “nice to haves”
In the professional services sector, job advertisements for green technology (+32%) as well as AI (+77%) are up on last year.
Listings for soft skills such as emotional intelligence (+29%) creative and innovative thinking (56%), and adaptability (+47%) also increased, especially in leadership and management positions.
Chris says: “It’s obvious that certain skills have become more common among professionals, but the rate at which they are increasing is dwarfed by an increase in demand.”
“Due that pace, skills which were considered ‘nice-to-haves’ just a few years ago have now become essential indicators of an individual’s abilities.”
Mentoring sustainable growth
The Robert Walters survey also revealed that professionals are increasingly looking for opportunities to develop themselves through coaching and mentoring. In fact, 39 percent of respondents said they would find it most helpful. Only 12% of professionals say their employers offer this.
Skills programmes (28%) accredited short courses (25%) and tuition contributions (8%) were also mentioned as useful initiatives.
Chris says: “Offering courses that are relevant is a good place to begin and will address certain skills shortages. Mentorship and coaching interventions are not only a great way to improve professional skills, share knowledge and encourage career growth, but they also boost employee confidence and team dynamics.
The first time HR News published the article Progress Paused – 70% admit they underinvest in their staff.
