Back to the Future: Firms seek skills ‘flux capacitator’
West Midlands business leaders are channelling their inner Doc Brown – and they’ve got a message for their past selves: “Great Scott! Train your team!”
In a nod to Back to the Future’s 40th birthday, Lloyds’ Business Barometer shows more than half (54 per cent) of the region’s bosses would go back in time to boost skills in their workforce.
Just over two in five (41 per cent) would launch new products or services, while nearly a third (31 per cent) would invest more in digital technology.
Look ahead to the future and the skills race is still on. Half (50 per cent) say upskilling is key to growth, with skills relating to AI (45 per cent), alongside sustainability (41 per cent) and leadership (38 per cent) topping their priority lists.
Dave Atkinson (pictured), regional director for the West Midlands at Lloyds, said: “West Midlands firms are putting skills at the heart of future plans.
“The focus on AI skills reflects the benefits businesses have already seen from the technology when it comes to areas like productivity and profitability.
“But it’s not just about the ‘hard’ skills – local companies are also investing in ‘soft’ skills like leadership to create a solid foundation for long-term growth and resilience."
