Global survey finds growing workplace skills shortage as possible threat to booming business optimism
Underpinning this, global revenue expectations also equal their all-time quarterly high of 56%, as do expectations around increased profitability (47%). However, a less welcome milestone is also set this quarter. The percentage of businesses who identify a lack of skilled workers as a constraint has increased to just over one in three (35%) - its equal highest quarterly level ever.
Francesca Lagerberg, Global Leader at Grant Thornton, comments:
“It would be easy to analyse these figures as unbroken good news for the business community. But there is a major warning light flashing, in the shape of a skilled worker shortage. Despite firms telling us they plan to hire more staff, we’ve seen a steady increase in fears that a lack of skilled workers could hamper future growth.”
“Addressing skills shortages is a difficult balancing act. The message to businesses from these findings is to plan and prepare for spending more to ensure the skills needed to drive future growth. Increasing wages is a short-term measure but longer-term, businesses will need to look at training programmes to boost skills among existing workers, and even working more closely with education institutions to ensure the right skills are being taught at an early age.”