stories on Nostr: Addressing the Skills Gap: Overcoming Financial Stress and Upskilling Challenges in ...
Addressing the Skills Gap: Overcoming Financial Stress and Upskilling Challenges in the EU ( #ea668c6c , v0.01)
The world economy is facing a slowdown, with economic activity weakening and consumer and business confidence taking a hit. While the United States continues to experience steady GDP growth, other advanced economies are facing dismal prospects or even recession. However, emerging-market economies like China and India are showing signs of stabilization and growth. Inflationary pressures are easing, but rising energy prices and geopolitical tensions remain concerns. The challenge for governments is to rebuild confidence and enhance productivity.
In KwaZulu-Natal, despite the recent triple crises and low economic growth forecast, business leaders are optimistic about the economic outlook and the rebuilding of the province. They believe that collaboration between the government and business leaders is key to addressing challenges such as energy security, safety and security, and logistics. They are confident that there is hope for economic growth and that key sectors in the region have emerged stronger. However, they acknowledge hindrances such as the energy crisis and inefficiencies in Durban Port. They are positive that these challenges will be addressed through public-private sector collaboration and that progress will be communicated to the public. Business leaders also see opportunities and believe that leveraging low-hanging fruit can turn the economy around.
Boosting small and medium-sized enterprise (SME) productivity is crucial for a stronger economy, stronger communities, and greater opportunities. The combination of inflation and high interest rates has led to a slowdown in sales, jobs, and wage growth for SMEs. However, despite these challenges, SMEs still have significant potential for growth. Digitalization is key to unlocking increased productivity, with technology adopters experiencing higher revenue and productivity. Strategic government support measures are necessary to facilitate SMEs' path towards digitalization. Current policies fall short in assisting SMEs, and they require more training, education, access to funding, and advice and support to improve productivity. An enabling digital environment, including digital compliance, open banking, and e-invoicing, is also important. Governments worldwide are providing assistance with digital advice, capital, and skills, while enabling a regulatory and digital infrastructure environment. Australia has the opportunity to follow this approach and create an environment that encourages SMEs to digitize. Productivity is essential for SME success in the digital age. Boosting SME productivity growth benefits everyone, from government to big business.
Experts emphasize the importance of project management skills in driving economic growth. Skilled project managers make up 3% of global employment, and this is expected to grow to 3.2% by 2030. Diversity, inclusion, and collaboration are catalysts for economic growth. Governments should adopt a collaborative approach with stakeholders in making legislation. Project management skills reduce project costs, improve efficiency, mitigate risks, and optimize resources. These skills are applicable in all public organizations. Project management plays a vital role in supporting economic growth, generating jobs, and creating resilient infrastructure. Infrastructure development boosts the economy and increases productivity. Project management skills help organizations achieve their strategic goals and create value for stakeholders. Sustainability is crucial for economic growth. Teaching young people project management skills can boost economic growth. Project management is critical in the field of information and technology. Project managers ensure the smooth execution of projects and minimize the likelihood of project failure. Project management skills are important in driving economic growth in the financial sector. Project management is a life skill that can be applied in various fields. Everyone, including state governors, should possess project management skills to achieve tangible results. Effective stakeholder management is crucial for successful project delivery.
Small businesses in the UK are facing a skills shortage that is hindering their growth ambitions. The Federation of Small Businesses (FSB) found that 22% of small firms identified a lack of skilled staff as a barrier to growth in the coming year. The information and communication sectors, which require constant upskilling, reported the greatest difficulty in finding appropriately skilled staff, with 38% of firms facing this challenge. The construction sector, which is crucial to the government's goal of building one million homes, also cited the skills gap as a significant hurdle. The FSB called for investment in lifelong learning and supply-side reforms to address the issue.
A study by consultancy PWS reveals that European workers feel financially stressed and are less likely to upskill compared to US workers. The study surveyed nearly 54,000 workers globally, including over 15,000 from 14 EU countries. Only 36% of EU workers have leftover money after paying bills, a decrease from the previous year. Workers in Europe and around the world are feeling more financially stressed. Despite this, nearly a quarter of EU workers plan to change jobs in the next 12 months. Compared to workers in the US and Asia-Pacific region, EU workers are less likely to believe that their job will require significant skill changes in the next five years. The structure of the European economy and lack of investment in training may contribute to this. However, the current labor shortages present an opportunity for employers to invest in their existing workforce. SMEs, in particular, may require support from public funds for these investments.
#EUworkers #upskilling #financialstress #laborshortages #investment
References:
- www.euractiv.com: https://www.euractiv.com/section/economy-jobs/news/financially-stretched-eu-workers-less-likely-to-upskill-than-us-workers/
The world economy is facing a slowdown, with economic activity weakening and consumer and business confidence taking a hit. While the United States continues to experience steady GDP growth, other advanced economies are facing dismal prospects or even recession. However, emerging-market economies like China and India are showing signs of stabilization and growth. Inflationary pressures are easing, but rising energy prices and geopolitical tensions remain concerns. The challenge for governments is to rebuild confidence and enhance productivity.
In KwaZulu-Natal, despite the recent triple crises and low economic growth forecast, business leaders are optimistic about the economic outlook and the rebuilding of the province. They believe that collaboration between the government and business leaders is key to addressing challenges such as energy security, safety and security, and logistics. They are confident that there is hope for economic growth and that key sectors in the region have emerged stronger. However, they acknowledge hindrances such as the energy crisis and inefficiencies in Durban Port. They are positive that these challenges will be addressed through public-private sector collaboration and that progress will be communicated to the public. Business leaders also see opportunities and believe that leveraging low-hanging fruit can turn the economy around.
Boosting small and medium-sized enterprise (SME) productivity is crucial for a stronger economy, stronger communities, and greater opportunities. The combination of inflation and high interest rates has led to a slowdown in sales, jobs, and wage growth for SMEs. However, despite these challenges, SMEs still have significant potential for growth. Digitalization is key to unlocking increased productivity, with technology adopters experiencing higher revenue and productivity. Strategic government support measures are necessary to facilitate SMEs' path towards digitalization. Current policies fall short in assisting SMEs, and they require more training, education, access to funding, and advice and support to improve productivity. An enabling digital environment, including digital compliance, open banking, and e-invoicing, is also important. Governments worldwide are providing assistance with digital advice, capital, and skills, while enabling a regulatory and digital infrastructure environment. Australia has the opportunity to follow this approach and create an environment that encourages SMEs to digitize. Productivity is essential for SME success in the digital age. Boosting SME productivity growth benefits everyone, from government to big business.
Experts emphasize the importance of project management skills in driving economic growth. Skilled project managers make up 3% of global employment, and this is expected to grow to 3.2% by 2030. Diversity, inclusion, and collaboration are catalysts for economic growth. Governments should adopt a collaborative approach with stakeholders in making legislation. Project management skills reduce project costs, improve efficiency, mitigate risks, and optimize resources. These skills are applicable in all public organizations. Project management plays a vital role in supporting economic growth, generating jobs, and creating resilient infrastructure. Infrastructure development boosts the economy and increases productivity. Project management skills help organizations achieve their strategic goals and create value for stakeholders. Sustainability is crucial for economic growth. Teaching young people project management skills can boost economic growth. Project management is critical in the field of information and technology. Project managers ensure the smooth execution of projects and minimize the likelihood of project failure. Project management skills are important in driving economic growth in the financial sector. Project management is a life skill that can be applied in various fields. Everyone, including state governors, should possess project management skills to achieve tangible results. Effective stakeholder management is crucial for successful project delivery.
Small businesses in the UK are facing a skills shortage that is hindering their growth ambitions. The Federation of Small Businesses (FSB) found that 22% of small firms identified a lack of skilled staff as a barrier to growth in the coming year. The information and communication sectors, which require constant upskilling, reported the greatest difficulty in finding appropriately skilled staff, with 38% of firms facing this challenge. The construction sector, which is crucial to the government's goal of building one million homes, also cited the skills gap as a significant hurdle. The FSB called for investment in lifelong learning and supply-side reforms to address the issue.
A study by consultancy PWS reveals that European workers feel financially stressed and are less likely to upskill compared to US workers. The study surveyed nearly 54,000 workers globally, including over 15,000 from 14 EU countries. Only 36% of EU workers have leftover money after paying bills, a decrease from the previous year. Workers in Europe and around the world are feeling more financially stressed. Despite this, nearly a quarter of EU workers plan to change jobs in the next 12 months. Compared to workers in the US and Asia-Pacific region, EU workers are less likely to believe that their job will require significant skill changes in the next five years. The structure of the European economy and lack of investment in training may contribute to this. However, the current labor shortages present an opportunity for employers to invest in their existing workforce. SMEs, in particular, may require support from public funds for these investments.
#EUworkers #upskilling #financialstress #laborshortages #investment
References:
- www.euractiv.com: https://www.euractiv.com/section/economy-jobs/news/financially-stretched-eu-workers-less-likely-to-upskill-than-us-workers/