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New research has revealed UK business owners see the skills gap as the greatest threat to their business’ growth.
In a survey of over 1,300 CEOS, PwC found that 65% of respondents had their growth hampered by a lack of key skills.
These businesses are looking to the government to help close the skills gap – three out of four said creating and encouraging a skilled workforce should be the government’s highest priority for business for the year ahead.
However, only a third of UK CEO’s said they will work to address talent gaps themselves in the next year. Over the next three years, 70% of respondents said they plan to increase investment in their workforce.
Laura Hinton, human resources consulting partner at PwC, said “There needs to be a joint approach to addressing the problem, with business and government working together to plug the skills gap.”
“At a time when growth is at the top of all business’ agendas, investment in employee training and development should be a key priority for CEOs for the year ahead rather than a longer-term aspiration.”