The Chartered Institute of Insurance (CII) has over 115,000 members worldwide and their latest skills survey has some worrying findings.
In the last two years there has been a 22% increase shown in employers reporting a technical skills shortage. This is now sitting at 81% compared to 59% in 2013. Are you finding it hard to recruit experienced and skilled individuals?
The shortage of good quality candidates has led to an increase in businesses increasing their training budget to meet needs. With 48% of businesses saying they will increase learning and development spend in the coming year, which is up 11% from last year. However, with 22% of businesses foreseeing a drop in quality and service standards there is a way to go.
Unsurprisingly the key area for development is shown to be in insurance technical skills and it is great to see that apprenticeships are definitely on the up in the sector. However, more surprisingly soft skills received 7% and leadership and management received 12%. So it is not just a lack of industry knowledge holding back the sector.
Is your business struggling to find good talent or hold on to existing talent?
We can’t help you with technical training but can definitely offer support and guidance with soft skills and leadership and management. When was the last time you carried out a training needs analysis on your employees and consider how this will impact on your business gaols? If you need a little bit of help but are not sure where to start, take a look at our Skills Pack for an easy and cost effective solution.
Productivity will only improve with better systems, better practices and up-skilled employees. Can you afford to do nothing?
Read the full report here
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