Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Almost 60% believe they’ve been denied a promotion due to a lack of digital skills

by August 24, 2023
August 24, 2023
Almost 60% believe they’ve been denied a promotion due to a lack of digital skills

58 per cent of UK employees believe they’ve been denied a promotion due to lack of digital skills, according to new research.

Alongside this, 58 per cent of workers believe that their organisation doesn’t have enough time to train staff effectivity, with younger staff feeling particularly neglected  as 70 per of those between 18 and 24 agree.

The findings were revealed by a survey of 250 decision makers at UK financial institutions and banks, polled via independent polling agency Censuswide, to discover how the Financial Services is being affected by the current skills crisis.

To solve issue, 91 per cent of workers claim that their organisation offers upskilling or reskilling opportunities to staff, promoting in-house development.

63 per cent of workers believe that the costs of upskilling or reskilling are too high and have prevented their organisation from offering these programmes. This worryingly jumps to 94 per cent between 18- and 24-year-olds.

A further 84 per cent of workers believe that their organisation would benefit from outsourcing digital training for staff in order to keep costs down while providing sufficient training opportunity.

It was also revealed that three quarters of workers believe that staff have resisted new technology due to a lack of understanding or digital skills, of which 86 per cent of 18-24-year-olds agreed.

Sheila Flavell CBE, Chief Operating Officer for FDM Group, commented: “Tech skills have become essential across all industries, in particular the financial services with the increasing adoption in areas such as AI and analytics. The scarcity of skilled tech professionals is holding back the industry from effectively implementing new technologies, ultimately stunting the growth of many financial services institutions.”

“Bridging the widening digital skills gap is an important area for businesses to prioritise. Promoting measures such as access to digital skills training programmes can empower staff development and give them the foundation to take up highly skilled roles in banking, FinTech and financial services.”

“Outsourcing digital training to staff and providing access to training and upskilling can offer a wider pool of staff the opportunity to improve their skills, plugging the skills gap within the industry. Solving the skills gap faced by businesses in the financial services sector isn’t an overnight task, but it is important to deliver constant progress towards solving this issue and propelling the industry forward” Flavell added.

Read more:
Almost 60% believe they’ve been denied a promotion due to a lack of digital skills

0
FacebookTwitterGoogle +Pinterest
previous post
Georgia secretary of state expects subpoena as Mark Meadows seeks to move Trump election case to federal court
next post
Tax Policy: Missing in Action

You may also like

Resilience and optimism: SME barometer shows rising business...

July 15, 2024

Government targets large firms in crackdown on late...

September 19, 2024

Tesco to lead the way on supermarket price...

July 17, 2023

Gold price hits record high as trade war...

April 11, 2025

Crisis talks to save historic Derby rail plant...

March 19, 2024

Forex Trading UK for Beginners

May 7, 2025

KERB Hospitality Group Unveils 2024 Impact Report, Showcasing...

May 22, 2024

Evri doubles profits after record year for parcel...

November 18, 2024

How Can You Help Your Investments Weather the...

October 24, 2022

Loose Women presenter Kaye Adams wins ten-year IR35...

January 25, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved