In the last edition’s article, I made the case for how our economy would benefit from having more medium-sized businesses. One such benefit was the opportunity to provide work placements, internships or even higher-level apprenticeships as a means of growing and expanding the workforce.
This, in itself, was as good a reason as any to encourage growth. However, at our recent AGM, Lucy Druesne, our chief contracts and policy officer and head of the Local Skills Improvement Plan (LSIP), delivered a presentation on the future skills needs of Kent & Medway, and it was quite alarming! Not because of her disarming presentation style – she’s always an excellent turn – but because of the predicted shortfall in skilled workers by 2035.
The LSIP is a relatively new initiative introduced by the Department for Education and seeks to address local skills issues experienced by employers and educational providers. Over the last few months, a significant amount of analysis has taken place across a range of stakeholders, and the findings raise some challenging issues.
In 2035, it is predicted that the employers of Kent and Medway will see an increase in the need for skilled workers to the tune of 56,000. This is mainly driven by changes in technology and falling population and also allows for some sectors growing and some declining, but overall, there’s a net increase. So far, not so bad, but factor in the ageing demographic and the number of people due to retire during this period, and that number jumps to 478,000!
So, what is a business going to need to do to tackle this problem? Well, a few things are certain. They’ll need to be competitive in their retention and recruitment, flexible in their working patterns, investing in training, and working closely with educational and technology institutions to embrace AI and automation.
This all might sound a bit daunting, especially with the current issues of an election year and global economic uncertainty. Nevertheless, the problem is on the horizon and businesses need to be prepared. Perhaps the most important change will be in the mindset of employers as they recognise the old ways aren’t always the best. And even if they were, change is coming regardless, and being connected to other businesses will help.
CONTACT:
Tudor Price, chief executive, Kent Invicta Chamber
www.kentinvictachamber.co.uk
