The skills gap has been estimated to cost £10 billion to the UK economy in 2015 alone. This is an important problem experienced by employers, which are not easily finding the talent they need to grow, and educational institutions, which are challenged to reform in order to deliver the skills required in the 21st century. In return, Government, charities and social enterprises are all playing their part to address this problem focusing on our young people.
This whitepaper delves into the issue of the skills shortage and helps all interested parties apply practical solutions that will more effectively support their objectives in relation to this problem. The paper explores the impact on young people, the economy as a whole, and the levers to improve the education system. Employers, universities, schools, Government, charities and social enterprises, will all find it valuable in order to improve their goals related to the skills gap working both individually and in collaboration.
Led by our social goal of supporting young people, the paper is based on extensive secondary research from available public sources as well as our own primary research with employers, universities and students and social media intelligence. All data has been studied in combination with our own expertise in social psychology and the behavioural sciences, resulting in new insights and propositions that will benefit both organisations and young people.
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