Did you know that 75% of UK school leavers lack essential job skills?
UK school leavers lack literacy, numeracy and interpersonal skills according to research.
A poll of 1,700 Finance professionals across the UK and Europe reveals that a third (31%) of firms take on average more than 2 months to fill junior roles . On appointment, 75% of UK school leavers require significant training.
The research finds that a lack of essential skills in new hires is affecting the performance of firms.
More than 90% of those surveyed in the UK reported that their workload had increased as a result of skills shortages. While 46% said it had caused a fall in departmental performance. The impact of skills shortages was similar for Finance teams across Europe.
40% of UK firms felt candidates lacked such capabilities as functional, literacy and numeracy skills. That’s compared with less than a fifth (18%) of those on the continent.
Noel Tagoe, Executive Director of CIMA Education, says: “If the UK is going to continue to prosper as a service economy we must maintain our skills base. As a nation our physical assets are limited, but our intangible assets embodied in the skills and creativity of our workforce are limitless.”
Tagoe concludes: “The divide between employers and educators remains vast, raising the cost burden on British firms and holding back the productivity of the workforce. The realities of the workplace must be better reflected in the classroom through discussion and practical experience.”
 Poll of CIMA members carried out in April 2015 – sample included 1,400 UK members and 320 members across Europe
We hope that you have found this helpful, and if you’d like to know more, just give Sue Green a call on 07951 356700.