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Results from a new survey “Training Out of the Recession,” completed by The Economist Intelligence Unit, shows that employee skill enhancement is a vital component to increased productivity and profits.
“The findings of the EIU analysis confirm that training not only leads to increases in productivity and customer satisfaction, but at least a 20% jump in profits,” said Jim Wynn, Promethean’s Chief Education Officer.
“Skills training is not just a growth issue, but a vital component for companies in surviving this recession. The challenge is that fewer employers are devoting adequate resources to training yet the benefits of training are hard to ignore.”
The Promethean-Economist Intelligence Unit survey included 252 business executives and public sector workers from the UK and the US. 46% of the respondents were from the UK and the remaining respondents were from the US.
Though the UK government is under pressure to create jobs and kick-start economic recovery, employers say that jobs are not in short supply, but workers with the appropriate skills and talent are. The skills-gap, which determines the difference between the skills needed on the job and those possessed by the applicants, is of real concern to employers looking to hire competent employees.
“During this challenging time we are all making strides to combat unemployment so we must all recognise that training is a key component to stimulate growth, and therefore an issue for employers, employees and the nation,” Mr Wynn said.
“Improving the quality of training starts with increasing collaboration and interactivity to support a more personalised training experience. As a result, we will see a boost in productivity, the strengthening of our businesses and benefits to the economy as a whole.”