Soft skills worth £88bn to UK economy
Healthcare industries are forecast to be one of the most at risk of losing out due to lack of support for soft skills.
Soft skills, including communication, interpersonal skills and teamwork, are worth £88 billion to the UK economy, new research suggests. It is estimated that over 500,000 workers will be held back by the lack of these skills by 2020.
A new report, released by Development Economics, shows the worth of these skills is set to rise to £109 million within five years.
Furthermore, a recent YouGov study indicates that while 97 per cent of employers believe soft skills are important to business success, three-quarters feel there is a lack of these skills in the UK workforce.
Healthcare industries are said to be one of the sectors most at risk of being held back due to a lack of support for soft skills from employers, government and educators. However, economists predict that this issue will affect all sectors.
Business man and entrepreneur James Caan CBE, commented: "Soft skills matter - to individuals, to businesses, and to the wider UK economy."
A new campaign backed by James Caan and a number of leading organisations is calling for a re-evaluation of these skills.
A three-month consultation has launched to gather information on current practices and attitudes. The data will be published later in 2015, alongside a set of recommendations for improving, supporting and promoting soft skills in the workplace.
Meanwhile, businesses, policy experts, campaign groups, trade associations and academics are invited to develop and share new ways of recognising and improving these skills.
To find out more about the consultation, visit: www.backingsoftskills.co.uk
FIVP has shared a survey, inviting those working in independent practice to share their views on the CMA's proposed remedies.
