Santander’s latest report calls for UK government action to enhance skills in leadership, digital technology, and sustainability, aiming to boost productivity.
- The report identifies three societal shifts impacting the workforce: changing work attitudes, AI advancements, and the push towards Net Zero.
- It highlights a 20% decline in time devoted to training by UK workers compared to a decade ago, despite a recognised need for skill upgrades.
- Barriers such as costs and time constraints prevent sufficient worker training, contributing to stagnant productivity levels.
- Santander has introduced an adult education programme targeting skill development in key areas as a response to these challenges.
Santander has released a new report emphasising the necessity for the UK government to focus on advancing skills in leadership, digital technology, and sustainability. This initiative seeks to address the ongoing skills gap which threatens to compromise economic growth and competitiveness. The report titled Tomorrow’s Skills identifies changing attitudes to work, the emergence of AI, and the transition to Net Zero as pivotal factors reshaping the workforce.
UK workers are currently allocating 20% less time to training compared to ten years ago, despite a clear acknowledgement of the importance of upskilling to maintain job relevance. This reluctance is largely due to obstacles such as prohibitive costs, time constraints, and inflexible training options. Such barriers contribute to stagnant productivity levels across the nation.
Moreover, the report highlights a striking trend: 69% of workers anticipate remaining in the same field throughout their careers, and 72% are confident their roles will persist over the next decade. This sentiment reflects limited awareness of the potential disruptions and opportunities posed by technological and societal changes. Mike Regnier, CEO of Santander UK, stresses, “The UK cannot afford to fall behind in this critical area if we want our economy to grow and remain competitive.”
The rise of hybrid working introduces further challenges, particularly with generational divides in attitudes towards remote work; 65% of those aged 25–34 deem hybrid work beneficial, in contrast to just 27% of those aged 55–64.
With AI transforming industries, 63% of the workforce recognise the need for additional training in new technologies, while 47% of younger employees express concerns over AI potentially replacing their roles. Developing digital proficiencies is therefore critical for enhancing productivity and securing future career paths.
As the UK progresses towards its 2050 emissions goals, the report underlines the necessity of equipping the workforce with sustainability-related skills to facilitate the Net Zero transition. In response, Santander has collaborated with xUnlocked, Fearless Adventures, and House 337 to launch an adult learning programme. Available on Santander Open Academy, this offers free video-based courses aimed at fostering green, digital, and leadership skills in individuals over 18.
This proactive measure, alongside Santander’s appeal for government intervention, underscores the urgency of addressing the UK’s skills deficit. It highlights the critical role of these key areas in boosting productivity and safeguarding the nation’s competitive position on the world stage.
Delivering future-focused skills in leadership, digital innovation, and sustainability is crucial for the UK’s economic success.
