UK businesses are prioritising investment in technology over people development, according to new research commissioned by talent management business, INTOO UK & Ireland.
In the recent independent survey of 1000 UK managers and employees, INTOO discovered that 75% of organisations are prioritising investment in technology whereas only 45% are helping to develop the skills their employees will need to succeed in the future world of work.
The research also found:
- 84% of UK workers are confident their role will continue to be carried out by people in the future, despite the introduction of new technology
- 58% of managers believe their teams need to develop new skills for the future
- BUT less than half of UK businesses are investing in people development
- Lack of investment, lack of time and lack of additional remuneration are seen as biggest barriers to skills development
- 1 in every 4 managers believes employees are not motivated to learn new skills
- Adaptability is seen as the most important skill for future success – with a decline in the value of role-specific skills
Tim Morton, Director at INTOO, commented:
“Far from the recent Armageddon headlines, this research suggests that, despite the advent of Artificial intelligence, big data, automation and robotics, people will continue to have an intrinsic role to play in business success.
“Alarmingly though, even with acknowledgement from managers and employees that they do not believe they have the skills that will be required by their organisations in the future, many UK organisations are currently prioritising investment in technology over people development. There is a careful balance organisations need to tread, investing in technology in areas that will help propel their business forward, but always ensuring that they take their people along with them.
“History is filled with examples of technological advances: the industrial revolution, operational efficiencies driven by robotics in manufacturing and globalisation facilitated by the internet. Yet the need for talent with the right skills has always remained.
“What is unprecedented is the likely pace of change. Given the speed at which technology is changing how businesses operate and the degree of uncertainty this ultimately brings, organisations that haven’t already done so must start preparing their people for change, so that they are better equipped to embrace it rather than resist it. Softer skills such as adaptability, resilience and learnability have always been important, but they will really come to the fore in the next few years.”
A report on INTOO UK & Ireland’s full survey findings: How Prepared are UK Businesses for the Future World of Work? is available to download at INTOO.com/news
The survey was carried out by OnePoll between 9th August and 17th August 2017. 1000 individuals were questioned across a broad spectrum of industry sectors and age groups (18-65). The sample was broken down into 250 senior personnel and 750 junior members of staff.
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