© Copyright Acquisition International 2025 - All Rights Reserved.

Article Image - An Underqualified Workforce: The Impact on Your Business and How to Tackle it
Posted 3rd December 2024

An Underqualified Workforce: The Impact on Your Business and How to Tackle it

Stark new statistics reveal that 28% of the UK workforce are underqualified for their jobs across many of the country’s major industries.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

An Underqualified Workforce: The Impact on Your Business and How to Tackle it
Human resources management software on computer screen

Stark new statistics reveal that 28% of the UK workforce are underqualified for their jobs across many of the country’s major industries.

This suggests that many employers and workers need to find new ways to improve floundering productivity, with a further 27% citing a lack of digital skills required for increasingly tech-centric job roles.

David Banaghan, Co-Founder and Interim CEO at Occupop, recruitment software experts,  said: “The twin problems of Brexit / COVID coupled with the digitisation of many jobs have left many employers ill-equipped to deal with today’s working problems, with the most prominent shortfall found in digital skills.

“However, while the skills gap indicates a wider national malaise, it does present individual, forward-thinking businesses with opportunity if they take time to understand skills shortages within their industry and act accordingly.”

Here are some things to consider:

Understanding the skills gap

This widening disconnect between supply and demand has emerged due to several factors.

Rapid technological progress has outpaced current education and training efforts, rendering some skills obsolete while creating a demand for new ones.

This also leads to changing job requirements as industry demands necessitate specific skill sets, which in turn leads to a mismatch between available skills and employer needs.

This is further compounded by outmoded education systems and insufficient training opportunities.

The Impact for Businesses

Some forecasters speculate that inadequate digital skills alone could cost the UK GDP a cumulative £145 billion between 2018 and 2028.

In the short term, this may disrupt a company’s business as usual (BAU) as underqualified employees struggle to perform their duties effectively.

This can lead to missed deadlines, increased error rates, poor client work, and heightened employee frustration and disengagement levels.

The longer-term repercussions, meanwhile, can be more profound. A workforce lacking essential skills hampers innovation, stifles growth opportunities, and risks falling behind its more agile, adaptable counterparts.

Plugging gaps to overcome the challenge

While the skills gap presents a formidable challenge, it also presents an opportunity for proactive intervention and strategic adaptation.

Here are some key steps businesses can take:

Invest in Continuous Learning: Embrace a culture of lifelong learning within your organisation.

Provide employees with access to training programs, workshops, and educational resources to continually upskill and reskill in line with your own bespoke industry trends.

Collaborate with Educational Providers: Forge partnerships with schools, colleges and universities to ensure that curriculums align with the job market’s specific needs.

Offer internships, apprenticeships and work-study programs to facilitate smoother transitions from education to employment.

Implement Mentorship Programs: Pair experienced employees with newcomers to facilitate knowledge transfer and skills development.

Mentorship programs not only foster professional growth but also strengthen employee engagement and retention.

Embrace Technology: Leverage technology-enabled learning platforms and tools to deliver personalised, interactive training experiences.

From online courses to virtual reality simulations, technology offers opportunities to enhance learning outcomes and bridge the skills gap.

Promote Diversity and Inclusion: Recognise the value of diverse perspectives and experiences in driving innovation and problem-solving.

Create inclusive work environments where individuals from different backgrounds feel valued, empowered and supported in professional development.

Encourage Upskilling and Reskilling: Identify emerging skills gaps within your organisation and proactively support employees in acquiring the necessary competencies.

Offer incentives, such as tuition reimbursement and certification programs, to encourage continuous upskilling.

Conclusion

While the findings from CV Genius may be sobering for employers, they can also act as a necessary wake-up call for businesses and policymakers alike.

The skills gap will likely require collaboration between employers, education providers, and the government.

To succeed best, businesses should foster a culture of continuous learning by fostering collaboration, embracing technology, and promoting diversity and inclusion through recruitment.

This can tackle skills gaps and unlock new opportunities for growth and innovation.

Categories: Leadership, News, Strategy


You Might Also Like
Read Full PostRead - Eye Icon
How to Navigate Audi Auctions on IAAI
News
13/09/2024How to Navigate Audi Auctions on IAAI

How to Navigate Audi Auctions on IAAI Insurance Auto Auctions, Inc. (IAAI) is a leading platform for buying and selling vehicles, particularly those deemed salvaged or damaged by insurance companies. Understanding how to navigate the IAAI auction process is es

Read Full PostRead - Eye Icon
The Best Practice
Leadership
29/09/2016The Best Practice

Based in Houston, Texas, Tumey L.L.P. now has offices in two different locations, with a second office located in the growing area of The Woodlands/North Houston, but what are the secrets behind the firm’s success?

Read Full PostRead - Eye Icon
Berkshire Hills Completes Hampden Bancorp Acquisition
M&A
22/04/2015Berkshire Hills Completes Hampden Bancorp Acquisition

Berkshire Hills Bancorp, Inc. has completed the acquisition of Hampden Bancorp, Inc., and the merger of Hampden Bank into Berkshire Bank.

Read Full PostRead - Eye Icon
King & Wood Mallesons Advise Colgate-Palmolive During Sale to Henkel
Legal
10/06/2015King & Wood Mallesons Advise Colgate-Palmolive During Sale to Henkel

King & Wood Mallesons Advise Colgate-Palmolive During Sale to Henkel

Read Full PostRead - Eye Icon
Protecting Your Assets and Your Future: When to Seek Specialized Legal Counsel
News
27/05/2024Protecting Your Assets and Your Future: When to Seek Specialized Legal Counsel

New York City is synonymous with success. Wall Street titans, real estate moguls, and entrepreneurs who’ve built their empires all call it home. But behind the private jets and Fifth Avenue penthouses lies a reality those of more modest means rarely have

Read Full PostRead - Eye Icon
Personal Loans Vs. Credit Cards: What You Should Know
News
12/09/2024Personal Loans Vs. Credit Cards: What You Should Know

While often ignored, choosing the right borrowing option is critical when managing personal finances. Personal loans and credit cards are the most preferred financial tools. They serve different purposes and distinctly affect your financial health. Be it to fu

Read Full PostRead - Eye Icon
The Texan Company Making a Difference
News
26/07/2022The Texan Company Making a Difference

Since 2016, Sirvist HRC, LLC has been serving clients across the United States, supplying companies with effective human resources and talent acquisition solutions.

Read Full PostRead - Eye Icon
Creating Innovative Digital Content Solutions
Innovation
08/05/2019Creating Innovative Digital Content Solutions

Integra is a leading digital content services company providing innovative source-to-publish solutions to global publishers and digital learning solutions to organizations across diverse industry verticals. Following their success in AI’s Global Excellence A

Read Full PostRead - Eye Icon
Proud to Support its Veterans
News
05/10/2022Proud to Support its Veterans

Woodside Quality LLC (Woodside) is a CVE Certified Service-Disabled Veteran Owned Small Business (SDVOSB) providing performance improvement, project management, and analytics support to federal and commercial clients.



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow