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Half of Australia’s workforce reports businesses are under-utilising their skills

93 per cent of organisations are currently investing in training and development programs but only 44 per cent of employees consider their training and development to be effective 

Monday, 18 March 2019:  Almost half of the Australian workforce believes their skills are under-utilised and the training they are offered could be far more effective according to new research from Commonwealth Bank (CBA). 

CBA’s FY19 Business Insights Report examines how Australian companies are responding to a range of opportunities and threats that are impacting the way they operate, with customers, people and technology rated as the greatest catalysts for organisational change. 

The report has found businesses are upskilling their workforce, prioritising soft skills such as adaptability and flexibility (46 per cent), and communications (43 per cent) which are in highest demand – outranking technology skills (41 per cent).

However, there is an opportunity for organisations to mobilise existing skills within their workforce, satisfy their demand for skills and better engage staff. In fact, the vast majority of employees are confident they already have the soft skills their employers need, but only half believe their company makes full use of these capabilities.

Adam Bennett, Group Executive, Business and Private Banking, Commonwealth Bank, said: “While there has been a focus among policy makers on improving Australia’s education system to boost innovation and competitiveness, businesses are also playing a crucial role in developing a skilled Australian workforce that can withstand a changing operational environment.”

“It’s critical businesses ensure their workforce is equipped with the skills they need to capitalise on commercial opportunities and there is a clear opportunity to tap into and nurture latent capabilities within their existing workforce,” Mr Bennett said.

 

For more information visit CBA Newsroom.

Topics: Market Research Financial Services press release