The new vocational currency: investing for success
- Nearly half of employers see vocational qualifications as being as attractive as academic qualifications
- 64 per cent of employers agreed weaknesses in management skills were holding back their growth, with a startling 60 per cent admitting they didn’t provide any management training
These are just two findings from our latest research report, The new vocational currency: investing for success. The research has been produced in conjunction with Cranfield School of Management, and emphasises the value of higher level vocational qualifications to businesses.
The report also looks at the issue of management skills in the UK, drawing on new research from YouGov.
It found more than two-thirds (68 per cent) of UK employers agree weaknesses in leadership and management skills are preventing employees from reaching their full potential, something which vocational qualifications could help with.
As a result our report recommends making management skills mandatory for all Apprenticeship frameworks at level 3 and above.
Dr Emma Parry, Reader in Human Resource Management at Cranfield School of Management and report co-author said: “This research clearly shows that employers agree a lack of management training is having a negative impact on business growth and yet only four in ten companies offer their staff training in these crucial skills. It is clear from these results that vocational qualifications are strong currency in the UK employment market.
“British businesses have an opportunity to broaden their talent pool by recruiting more people who hold vocational qualifications and may have been overlooked in the past due to not having a degree. This research shows that employers regard vocational qualifications positively, so now has never been a better time to study a vocational qualification.”
Gill Craven, Director of Service Development at learndirect, said: “There’s no doubt the government focus on vocational qualifications, particularly Apprenticeships, is the right one to build a skills base for the UK which is fit to compete in the twenty-first century.
“However, the issue of poor leadership and management is holding back the success of both companies and individuals. With the huge amounts of public funds being channelled into Apprenticeships it makes sense to tackle this issue as well and make management a mandatory element at level 3 and above.”
Our research provides some key recommendations for businesses and highlights the opportunities to leverage the development of vocational training to develop your staff skills base through work based learning and boost company growth.
To find out more download a copy of the report today>
In our accompanying video feature Gill Craven, highlights the recommendations in the report, and talks about the steps employers can take to create a talent pool of managers and how we can help businesses implement Apprenticeships, vocational and management training.
Watch the video>