As digital transformation gains momentum, 87 percent of UK manufacturers say that they are ready to invest in new technologies which will boost productivity. Yet, PwC’s recent Global Digital Operations Study found that UK firms are lagging behind the global average for technology adoption. While there may be a number of reasons for the low digital readiness of the sector, such as lack of clear vision, and fears of uncertainty around Brexit, a growing concern is also the lack of access to relevant skills.
Despite the evident importance of skills development, the majority of UK manufacturers do not provide annual formal, accredited training to more than a quarter of their workforce. Yet, challenging and training employees to acquire new expertise can be a cost-effective way to manage staff resourcing, provide a boost to employee engagement, and ultimately have a positive impact on a company’s productivity.
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A skilled and agile workforce that can successfully use emerging technologies will enable manufacturers to rise to the challenges presented by Industry 4.0. These companies will then, in turn, be in a strong position to navigate the ever-changing economic and international business environment, improve productivity, and drive future business growth.
Senior vice president and head of international