Ireland – 25th June 2008 – Tánaiste and Minister for Enterprise, Trade & Employment Mary Coughlan TD, launched two new FÁS initiatives:

• Training of Workers with Lower Levels of Qualification
• SME Management Development

Ireland’s future economic prosperity will depend on the development of the skills of our workforce. We must continually upgrade the skills of those at work. It is through this process of constantly upskilling our workers that Irish companies will be able to secure a long term competitive advantage.

The SME Management Development initiative is targeted on the need for businesses to also develop the skills of their workforce and therefore enhance productivity and competitiveness. The training programmes are being constructed in such a way that the current and prospective, growth-related, needs of SMEs in Ireland are kept fully up to-date.

Speaking at the launch of the FÁS initiatives the Tanaiste said “In recent years, the Government has significantly increased funding through FÁS for the training and up skilling of persons in employment. This reflects our commitment to improving national competitiveness through training and development. These new FÁS initiatives, which over the next two years will deliver training and development to over 11,500 employed people, collectively represent a total investment of €19 million in the development of our workforce”.

The Tanaiste added “Experience has shown that well-trained managers, who realise the benefits of up-skilling for themselves, are also more likely to recognise the value of across-the-board training for other levels of the workforce.

This in turn facilitates and drives training for workers with lower qualifications. Therefore the suites of courses being launched today are in fact complementary to each other.

The initiatives being launched represent a major step forward in implementing Government policy in this regard, with the objective of ensuring that we have the best educated and most highly trained workforce possible in Ireland going forward”.

FÁS Director General Rody Molloy emphasised “It is those people at the lower end of the labour market who are now the most vulnerable to competition from low cost economies. It is their jobs, which can be most easily replicated. Many of these workers have low levels of skills and educational attainments. This has got to change. In future the key to long-term employment will be through a process of lifelong learning, where the skills of Irish workers, both of jobseekers and those already in employment, will undergo continuous upgrading throughout their careers and not just before they enter the workforce”

Source: FAS Press Release

UK – 9th May, 2008 – The skills shortage in financial services has worsened, according to the Chartered Insurance Institute’s (CII) second annual skills survey.  Three quarters of the 3,511 CII members polled reported a shortage of technical skills, a 5% increase on last year’s survey.

Four out of five firms have said that the problem of recruiting skilled staff has become part of their boardroom agenda.  This increase of 20% on last year shows that more firms are looking to tackle the problem.

The education system took the brunt of the blame for the lack of trained people, with 57% of members saying that the education system had failed to meet the needs of the industry.  Just 3% described basic levels of education as ‘more than adequate’ and said they felt 61% of graduates struggled with basic literacy and numeracy.  The number of firms that believe their employees need higher qualifications has risen 14% from last year to 73%.

Lord Hunt, the CII president, said that the results of the survey served as a ‘wake up call’ and that advisers, professional bodies, the Financial Services Skills Council and the government needed to work together to solve the industry’s problems.

‘In this period of economic instability it is vital that we do not take our eye off the skills issue, tempting though that may be.  Cuts to training budgets in order to make a quick saving will in the end prove to be a false economy,’ he said.

‘The UK financial services industry is world renowned for its commitment to improving the skill levels of its staff.  Yet we cannot be complacent and must continue to commit time and resources to training and development if we are to remain competitive in the face of intense global competition.’

“It for reason like those concern outlined below that Learn Skills intends to offer a range of industry relevant and industry specific courses for the Financial Services Industry”, said Sean Griffin, Co-Founder of Learn Skills, who spend eight years working in this sector and saw first had the damage that can be done by undertraining workforce.

Source: Citywire