Traditional education models are no longer adequate if the UK wants to tackle the ongoing skills shortages, according to job site Indeed.With skills gaps growing, despite rising tertiary education attainment, Indeed's report points to the need for more targeted education and training for employees, if corporations are to overcome the skills gap in the long term.
High-skill professions such as nursing, teaching and software development are suffering most from this reduced talent pipeline. The decline in nurses and teachers has been widely blamed on salary cuts within these sectors. However, Indeed’s report warns that salaries alone will not provide the much-needed solution to the rising skills shortage across both the public and private sector.
Tara Sinclair, chief economist at Indeed, said: “Rather than focusing on salaries alone as the cure-all for attracting employees, corporations would be wise to look closely at the wider expectations and demands of their candidates, if they are to draw in the best talent."
She added: "Corporations need to put their money into better training schemes and qualification opportunities for employees. With this strategy in place, enterprises can embrace candidates who are the right fit for the job in terms of culture, experience and willingness to learn - offering them the opportunity to gain specific qualifications on the job.
"In a tight labour market, addressing barriers to education and self-advancement is a more valuable investment than outbidding competitors."