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Top 3 Sectors for growth and skill shortages into the next decade

  • yelloweggIT & Digital
  • Engineering & Construction
  • Accounting & Finance

 

1. IT & Digital

IT and the digital technologies continue to be the number one sector for growth and skill shortages globally as well as in the UK.

There are three main drivers, which are fuelling this:

  • The relentless advancement of technology itself.
  • The constant application of technology and innovation by businesses seeking competitive advantage
  • The lack of adequate levels of investment in training and skills in the sector compared to demand.

The overall effect of this is there are constant skill gaps emerging.

See > …….

2. Engineering & Construction

According to the Engineering and Technology Skills and Demand in Industry report produced by the Institution of Engineering and Technology (IET), UK firms report a strong demand
for new engineering and technology staff.

Significant projects are underway in Rail, Nuclear, Road as well as the major house building commitment the government has made. Concern will be for major contractors having the ability to acquire and retain key workers. The major track and signalling projects in rail – South West of England, Midlands, and the continued extension of tram projects in Scotland, Manchester and elsewhere means there is a major skill shortage.

In aerospace and defence skills are going to be in demand.

George Osborne’s commitment to build 400,000 new houses, the largest house building drive since the 1970’s, with a £2.3 billion commitment means this sector is certain to growth.  The continued shortage of skills across the UK means pay rates are set to rise.

3. Accounting & Finance

The UK Services Sector  represents 75% of the UK GDP, is seeing major growth.

The recovery of this sector has seen businesses willing to expand and recruit. In addition activity in the corporate investment and IPO offerings is picking up.

 

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