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Insider UK
Insider UK
Science
Peter A Walker

More than half of Scottish businesses plan to invest in skills

Firms in Scotland are committed to bridging the skills gap and investing in training and developing their staff over the next six months.

More Scottish firms intend to invest in up-skilling their workers than all other regions and nations in the UK, as 56% plan to develop their teams.

Research from Lloyds Bank identified that on-the-job training is the region's most popular form of up-skilling new and existing staff (59%), followed by off-the-shelf courses and training materials (32%) and apprenticeships (31%).

More than a quarter (27%) of firms in Scotland insisted that government investment in sector-specific training would help boost workers expertise in the region.

Staff retention was identified in the research as the driving force behind the need to invest in training in Scotland, as 53% of companies identify this as the motivation behind the investment in development.

Other businesses claimed that the training boost will help increase revenue (53%) and create greater productivity within the workforce (50%).

Chris Lawrie, area director for Scotland for Bank of Scotland Commercial Banking, said: “It’s fantastic to see Scotland leading the way when it comes to training and developing their teams.

“Investment in training can have so many benefits for businesses, from increasing productivity among the workforce to encouraging new talent to join the company.”

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