Will a lack of skills inhibit growth?

CEOs have claimed skills shortages are a significant growth inhibitor. Given 61% of CEOs had this concern in 2008 (dropping to 46% following the global downturn), it would seem logical that organisations would invest in training. Yet there is no indication that this is happening.

Human resource directors need to ask their stakeholders, do we really have a skill shortage? And how are we best placed to resolve these? In recent history, recruitment may have been the easy answer. However, in a resource constrained recovery, it is perhaps time to make the best of our existing people and invest in them through, among other things, training and development.