The 2019 CBI/Pearson Education and Skills Annual Report has revealed that 84% of firms are expecting to maintain or increase investment in training their workforce.
The report, Education and Learning for the Modern World, surveyed 208 businesses and trade associations. It revealed that 45% of respondents value all qualifications equally – with 29% looking for a mix of academic and technical education post-16. This includes academic (A-levels), career-focused (such as BTEC) and occupational (apprenticeships and T-Levels).
In addition, more than four in five businesses polled (86%) now offer apprenticeship programmes. 63% say they plan to expand their apprenticeship training in the future and 54% have created new schemes.
Yet more than one in four firms (26%) are simply absorbing the cost of the Apprenticeship Levy as a tax on doing business. 71% of firms that responded highlighted apprenticeship reform as their biggest priority. Businesses are increasingly aware of the T-Level reforms, with 79% of respondents actively aware of the new qualification. 77% were aware of the work placement element – up from 35% last year.
Encouragingly, links between business and schools, colleges and universities have also expanded, with over nine in ten participants (94%) now having a partnership. Firms are also strengthening their existing engagement with a balance of over half increasing their presence in secondary schools (+56%) and further education colleges (+51%).
CBI Chief UK Policy Director, Matthew Fell said: “Education is a top priority for businesses, who understand its impact on productivity and living standards. “Firms are generally happy with the academic knowledge of young people applying for jobs in the past year but prioritise ‘work readiness’ when recruiting school and college leavers. It’s clear that more emphasis is needed on ensuring young people have the character, behaviours and attributes to succeed in the world of work.
“Businesses place a high value on young people having relevant work experience, and are stepping up to provide this, for example, by increasing their presence in secondary schools and colleges.”
He continued: “With over half of businesses anticipating the need to upskill and retrain their workforce in the coming year, it’s clear that we are entering a decade that will be defined by a step-change in the level of re-training for those already in work. Turning the UK into a nation of lifelong learners will be critical to ensure our country is well placed to reap the benefits of digital, technology and other changes in the workplace.
“A powerful partnership between business, government and education institutions is essential if we are to ensure that our education and skills system is fit for the modern world – companies stand ready to play their full role.”
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