Eighteen months until back to ‘normal’ – but training can help
UK organisations anticipate that it will take 18 months to fully recover from the disruption of the coronavirus pandemic and its subsequent social distancing measures, with small businesses leading the way back to ‘normal’.
A survey of business leaders and managers by The Open University has found that SMEs expect to recover to their pre-COVID status in 15 months, with larger organisations trailing behind by a further six months.
While 71% of organisations across all sectors have been severely affected by the pandemic, it is those businesses that have invested in training during lockdown that expect to recover more quickly.
In an attempt to get to grips with socially-distanced, digitally-delivered business models, two-thirds (67%) of organisations report that learning opportunities have been crucial to enabling their workforce to remain agile throughout the pandemic.
One in five (22%) have embraced technology to meet new business challenges and are now looking for the skills to harness them effectively. As a result, 40% of leaders expect to rely on their employees’ digital capabilities more heavily than before as they adjust to the challenges brought about by the pandemic.
Nevertheless, one in three (33%) organisations plan to let go of furloughed workers or make other redundancies as pressures to recover mount, but this in turn is creating further skills gaps, as one in five (22%) report that redundant workers will be replaced with new talent offering more valuable skills – talent that could be developed from within.
One in six (17%) plan to re-model their organisation, driving the value of ‘soft’ skills that could be developed through work-based learning such as communication, problem solving and critical thinking.
The Open University is urging employers to think ahead and invest in the re-training of workers whose roles have become redundant to fill future skills gaps and re-channel employees.
Professor Tim Blackman, Vice Chancellor of The Open University, said:
“The business landscape has changed almost beyond recognition in the last three months. While some leaders will be tempted to replace employees who don’t appear to have the skills required for a post-COVID world, this new data shows that those who have invested in the development of their staff during lockdown are in fact more confident about their recovery. More so than ever before, the nation’s workforce needs to be agile, and this should be reflected in the training it receives. The time to invest in skills is now. With the UK approaching deep recession and the economic uncertainty that this will bring, comprehensive and continuous learning is key to adapting to the ‘new normal’ and embracing the challenges that lie ahead.”
Says David Sharp, CEO of International Workplace:
“We've seen from the announcement made by Chancellor Rishi Sunak today that the UK government is putting training and development - along with green business - at the heart of its plans to secure a medium- to long-term recovery. Stimulus measures such as incentivising employers to re-employ furloughed workers and take on more trainees and apprentices are about more than massaging unemployment numbers. They show that solid growth won't be achieved without investment in new skills. Technology plays a fundamental part in this. It provides the medium through which skills training will be increasingly delivered. And it is these kinds of technical skills that will be valuable to employers looking to adopt an agile approach to business."
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