Latest news with #MarthaLaneFox
Business News Wales
24-06-2025
- Business
- Business News Wales
Business Barometer Reveals Urgent Need for Skills Planning in Wales
A new report from The Open University reveals a growing disconnect between Welsh employers and the next generation of workers — one that could be preventing employers from addressing the country's persistent skills shortages. The 'Business Barometer: Skills for today and tomorrow: how employers can plan for future skills', is a survey of over 2,000 UK organisation leaders and 1,000 Gen Z adults. In Wales, 139 organisation leaders and 80 Gen Z adults (under the age of 25) were surveyed and reported that more than half (58%) of organisations are currently experiencing a skills shortage, the highest of all UK nations. At the same time, only a third (31%) of those Welsh organisations have specific initiatives in place to recruit, retain or train under-25s. Over half (54%) of Gen Z respondents in Wales are aware of the country's skills challenges and are factoring that into their career thinking — but they may not be receiving the guidance or support they need to become truly work-ready: 73% are considering careers based on where skills are most needed 66% would stay longer with an employer that offers training and development This gap in expectations is particularly stark at a time when digital, AI and sustainability skills are increasingly essential. While over half of Gen Z (58%) are already working in or interested in AI, 20% of Welsh employers say they're not confident they can deliver their AI strategies due to talent constraints. Dr Scott McKenzie, Assistant Director, Learning, Skills and Innovation at The Open University in Wales, said: 'The data is clear: there's a mismatch between employer intentions and practical action. But there's also a real opportunity here. Welsh employers can start by building structured skills plans, work with education providers invest in flexible training, and opening up opportunities to more diverse talent. The organisations who act now — who take learning seriously, at every level — will be the ones who will thrive in the years ahead.' Baroness Martha Lane Fox CBE, Chancellor at The Open University added: 'Employers have an incredible opportunity — and responsibility — to shape the future workforce. The talent is out there. Young people are motivated, they're digitally savvy, and they want to contribute. But they need clear training pathways, practical support, and employers willing to invest. 'While there are economic challenges at this moment for employers, the smartest organisations won't just wait for skills to arrive — they'll build them, inclusively and proactively, to fuel growth and resilience.' While global headlines have amplified political division over ED&I policies, the report reveals continued support for inclusion in the UK. The data shows that 80% of employers in Wales say ED&I is important to their organisation while 42% believe it will become even more important over the next five years. However, 25% have no initiatives in place for underrepresented or disadvantaged groups, including returners, career changers, and workers with disabilities or neurodiversities. This presents a missed opportunity to widen the talent pipeline and reduce economic inactivity — particularly in sectors and areas facing acute workforce shortages. The Business Barometer has tracked the skills shortage for nearly a decade and while the proportion of employers facing a skills shortage has stabilised since last year, the issue remains widespread across sectors and regions. The skills gap remains one of the most pressing issues for organisations in Wales, with nearly a third (38%) expecting it to worsen over the next five years. Among those currently affected, Welsh organisations report: Recruitment and training is more difficult due to the increase in national insurance (54%), increase in the minimum wage (56%) and economic uncertainty (72%) 60% report increased workload on other staff 43% cite reduced productivity 37% say they've scaled back growth or expansion plans 20% lack confidence in delivering their AI plans over the next five years Despite this, fewer than half of Welsh employers (36%) have a formal skills plan in place and even though the data shows training boosts retention, 30% of organisations say they hesitate to train staff for fear they'll leave. To find out more how employers can address the organisation skills shortage visit The Open University Business Barometer 2025
South Wales Argus
24-06-2025
- Business
- South Wales Argus
Wales facing UK's highest skills shortages, says report
This is according to the latest Open University Business Barometer, which found that 58 per cent of organisations in Wales are struggling to fill roles. Despite this, only 31 per cent have schemes in place to recruit, retain or train workers under 25. Dr Scott McKenzie, assistant director of learning, skills and innovation at The Open University in Wales, said: "The data is clear: there's a mismatch between employer intentions and practical action. "But there's also a real opportunity here. "Welsh employers can start by building structured skills plans, work with education providers, invest in flexible training, and opening up opportunities to more diverse talent. "The organisations who act now – who take learning seriously, at every level – will be the ones who will thrive in the years ahead." The report highlights a generational disconnect, with 54 per cent of Gen Z respondents in Wales aware of the skills gap, but lacking guidance to become work-ready. Baroness Martha Lane Fox, chancellor at The Open University, said: "Employers have an incredible opportunity – and responsibility – to shape the future workforce. "The talent is out there. "Young people are motivated, they're digitally savvy, and they want to contribute. "But they need clear training pathways, practical support, and employers willing to invest." Although 80 per cent of Welsh employers say ED&I is important, a quarter have no initiatives for underrepresented groups. The report underscores the need for better planning and investment in training to address long-term workforce challenges.
STV News
24-06-2025
- Business
- STV News
Businesses urged to help ‘shape future workforce' by investing in young people
Experts have urged Scottish businesses to help 'shape the future workforce' by investing in upskilling young people, as a survey suggests the next generation of workers is not being given the support it needs to plug the nation's skills gaps. According to the Open University business barometer survey, more than half (56%) of Scottish businesses are currently experiencing a skills shortage but only about a third (35%) have specific initiatives in place to recruit, retain or train under-25s. The survey, of more than 2,000 UK organisations and 1,000 'Gen Z' adults, also found that while the majority of Gen Z respondents are aware that Scotland has a skills gap, two-thirds (66%) have never been told they lack specific skills. Meanwhile, 71% of Gen Z respondents said they would stay longer with an employer that offers training and development while 72% said they are considering careers based on where skills are most needed in the UK. Researchers said the 'disconnect' between employers and young people is particularly stark in the field of AI. According to the survey, just under half (47%) of Gen Z in Scotland say they are already working in, or interested in working in, AI, but a fifth (20%) of Scottish employers say they lack the confidence to deliver their AI strategies because of a skills deficit. Baroness Martha Lane Fox, chancellor at The Open University, said: 'Employers have an incredible opportunity – and responsibility – to shape the future workforce. 'The talent is out there. Young people are motivated, they're digitally savvy and they want to contribute. But they need clear training pathways, practical support and employers willing to invest. 'While there are economic challenges at this moment for employers, the smartest organisations won't just wait for skills to arrive – they'll build them, inclusively and proactively, to fuel growth and resilience.' The survey found many businesses in Scotland were finding it difficult to recruit and train staff because of the increase in national insurance rates (58%), an increase in the minimum wage (51%) and economic uncertainty (70%). However, the results also made clear the impact the skills shortage is having, with 44% of respondents saying it is increasing the workload for other staff, 39% pointing to reduced productivity and 35% saying they have scaled back growth or expansion plans. David Allen, senior partnerships manager at The Open University in Scotland, said: 'Scotland's skills gap is one of the biggest long-term challenges facing our economy – but it's also one of our greatest opportunities. 'With 56% of employers who offer apprenticeships set to hire or train more apprentices and 51% recognising they have a responsibility to fund staff training, there is real momentum building. 'However, with a third of employers citing funding as a barrier and many still without a formal skills plan, action is urgently needed. 'Flexible, inclusive training delivered in partnership with tertiary education providers can help employers retain talent, address skills shortages before they escalate and help support long-term succession planning within the business. 'We need to meet learners where they are, equip them for the future and make development a shared priority. 'The organisations that do will be the ones shaping Scotland's growth and resilience for years to come.' The survey also indicated continuing support for equality, diversity and inclusion (ED&I) initiatives among Scottish businesses, with 87% of firms saying ED&I was important to them, and 56% saying it will become even more important over the next five years. However, the data shows a quarter (24%) of employers currently have no initiatives in place for underrepresented or disadvantaged groups, including returners, career changers and workers with disabilities or neurodiversities. The researchers said this was a 'missed opportunity' to broaden the talent pipeline and reduce economic inactivity, particularly in sectors facing acute workforce shortages. A Scottish Government spokesperson said: 'We welcome this report which affirms what we already know – that Scotland's young people have talent, knowledge and enthusiasm that we want and need in our economy. 'That is why we are already undertaking a major programme of reform of the skills system to ensure that it meets Scotland's needs and we are providing £185 million this year to deliver 25,500 new modern apprentices, 5,000 foundation apprentices and 1,200 graduate apprentices. 'We will also continue to provide support for 38,500 apprentices already in training.' The spokesperson added: 'A major driver of the skills shortages which are holding Scotland back is Brexit and UK immigration policy, and the Scottish Government has put forward proposals for a Scottish Graduate Visa to ensure we can benefit from the skills of people who want to live and work here.' Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
Glasgow Times
04-05-2025
- Business
- Glasgow Times
Major climate change event set to return to Glasgow
The Congress of Business (COB), a key event from COP26, will be held for the third consecutive year on May 13, 2025. The event, part of Glasgow Climate Week, will take place at SWG3 and be broadcast online. Read more: Glasgow holidaymakers heading to popular EU country warned Building on the Glasgow Climate Pacts established at COP26, COB aims to drive meaningful change by turning sustainable strategies into tangible action. It brings together some of the UK's most influential businesses, leading academics, and policymakers. The event will take place at SWG3 (Image: Supplied) The event serves to create a bridge between international UN climate gatherings. Speakers at the event will include Baroness Martha Lane Fox CBE, president of the British Chambers of Commerce, Jennifer Jordan-Saifi MVO, CEO of the Sustainable Markets Initiative, and Professor Sir Anton Muscatelli, principal and vice chancellor of the University of Glasgow. Other speakers include Gerard Gallagher, global sustainability leader at Ernst & Young, and Will Attenborough, climate finance strategist and co-founder of Green Rider. The Congress of Business is supported by the University of Glasgow, Barclays, and It is hosted by the Glasgow Chamber of Commerce on behalf of the Chambers network. On top of the main conference, two additional events have been added to the programme. COB Futures, hosted by DYW Glasgow in partnership with DYW West and DYW LED, hopes to inspire young people to choose careers which will support a sustainable future. Meanwhile, COB Inspires is focused on students and recent graduates looking to enter the sustainability sector. It will feature talks, panel discussions, and interactive networking, exploring career opportunities and sustainability challenges. Alison McRae, senior director at Glasgow Chamber of Commerce, said: "Congress of Business is an action-driven global event that reinforces Glasgow's legacy as a COP host city. "This year, we anticipate welcoming over 500 delegates from around the world to hear from business leaders, academics, and government officials about how we can collectively achieve the growth and innovation opportunities that a sustainable future offers." Professor Sir Anton Muscatelli said: "Congress of Business captures the collaborative spirit essential for meaningful change, uniting academia, industry, and government to co-create solutions for a sustainable future. "The University of Glasgow is proud to support the event, reflecting our commitment to driving innovation, building partnerships, and advancing economic growth." Read more: Special trees planted in first of its kind Bishopbriggs park Chris Norbury, chief executive officer at UK, said: 'Reaching net-zero requires more than ambition – it demands collaboration, innovation, and a relentless focus on making energy more affordable and sustainable. Glasgow's net-zero determination is so aligned to that our partnership for COB25 made perfect sense. "This is a city that shares our commitment to innovative solutions and making new energy work for everyone. Together, I am confident we can accelerate progress, inspire change, and build a cleaner, more resilient future for all.' The Congress of Business is free to attend, with tickets available via the Glasgow Chamber of Commerce website.
