Skills development in the UK workplace
This factsheet was last updated in May 2016.
What do we mean by ‘skills’ and why are they important?
The economic prosperity depends on how many people are in work and how productive these people are in the workplace. Increases in skills levels of a workforce, therefore, translates into higher productivity and prosperity for the economy. Growths in productivity and prosperity create the conditions for improvements in real earnings.
For the individual, skills determine their employment and earning potential. For organisations, skills are vital to meeting both current and future business demands. To be successful and competitive, businesses must ensure their talent and succession planning takes into consideration what skills need to be sourced, nurtured, developed and retained now, in order to create successful and productive workforces of the future.
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- What do we mean by ‘skills’ and why are they important?
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