Mark Spelman, managing director of strategy at Accenture, noted that there is something of a "double paradox" in the labour market, as some businesses are cutting back on skills development at the very time when they should invest more.
His comments followed the publication of an Accenture survey, which showed that skills shortages are persisting in spite of a pool of unused talent in the UK and across the world.
According to the survey results, 18 per cent of companies and bodies plan to increase spending on skills and training over the next 12 months, but 43 per cent still face skills shortages and 72 per cent believe businesses need to increase their investment in this area.
Mr Spelman commented: "Employers recognise the need for counter-cyclical investment in human capital, but are struggling to find solutions. Getting skills markets to work better would unlock new enterprise, economic growth and job creation."
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Posted by John Oak and Wayne Bly
Source: The Sales Director News