Policy Paper: Unlocking the potential of the UK Workforce Monday 29 June 2020 Share Share to LinkedIn Share to Facebook Share via email CMI Policy Paper on Future Skills The Coronavirus pandemic has had a significant impact on the UK economy. As we enter the recovery phase of the crisis, it has deepened the need - and created a moment of opportunity - to unlock the full potential of the UK workforce. Significant new investment is needed to ensure we can equip workers with the skills they will need to remain competitive in the Fourth Industrial Revolution and we should focus on two key areas: supporting employers to create training opportunities and an environment that is conducive to retraining, and ensuring employees take up the training available. CMI’s latest policy paper on Future Skills and Retraining makes a number of recommendations to unlock the potential of the UK workforce, including: Accelerating the roll-out of the National Retraining Scheme (NRS), offering a Right to Retrain to anyone who wants it. Using the tax system to better incentivise employers to invest in training. Retaining the employer-led principle for all skills policy interventions, to ensure a close link between training and employment. Making greater use of bite-size courses and modular learning to meet employer demand for greater flexibility to fit their needs. To support an apprenticeship guarantee (which means a job creation scheme as well as training) employers, especially SMEs, should be supported with the initial non-training costs of employing an apprentice with incentive payments and grants targeted up-front, where employers need it most. There should be continued job retention support, which must be more explicitly linked to retraining and skills. To receive this support, employers should commit to a social contract, asked to make firm commitments to embed a culture of retraining and professional development, and build capacity to retrain, to access support. We are also calling on the government to work with, and lean on, Chartered organisations - such as CMI - that have the ready-made networks and ready to rollout training and resources that we need to upskill and reskill the nation, at pace. For more information on these recommendations, and case studies on the impact of management education in the workplace, read the full policy paper below. Read the Future Skills Policy Paper Like this article? Why not share it. Share to LinkedIn Share to Facebook Share via email You might also like these posts on this topic: Topic: “The fire service reignited my passion for developing female leaders” A move from fashion retail to the Derbyshire Fire & Rescue Service meant a radical change for Yvonne Devereux CMgr MCMI Read article Article Topic: Even in retirement, development is important, says Chartered Manager Tom Doran Tom Doran CMgr FCMI FIC, despite being retired since 2017, he’s not content to put his feet up Read article Article Topic: As a manager, how much do you understand ADHD? ADHD is often framed as a deficit, but this can overlook the strengths it brings. For managers, understanding ADHD is key Read article Article Topic: Employment Landscape How can businesses and business schools work better together? Anthony Sturgess of Liverpool Business School says better relationships can help businesses realise their full potential Read article Article Browse all posts Don’t miss out - get notified of new content Sign-up to become a Friend of CMI to recieve our free newsletter for a regular round-up of our latest insight and guidance. CMI members always see more. For the widest selection of content, including CPD tools and multimedia resources, check out how to get involved with CMI membership. Newsletter More ways to get involved Policy Paper CMI's policy submissions to Government departments complement our ongoing engagement with policy makers and support our aim of keeping management and leadership at the forefront of the public policy agenda. Members See More CMI Members have access to thousands of online learning and CPD resources. Learn more about our membership benefits Join The Community CMI offers a variety of flexible membership solutions, tailored to your needs. Find out more and get involved in the CMI community today.