Receive the latest mybusiness news
Copyright © 2020 MOMENTUMMEDIA

Soft skills dying out as training budgets slashed

19 June 2018 1 minute readShare
Back to school, desk, blackboard

Skills shortages aren’t just limited to technical know-how, with a lack of training leading to a chronic shortage of soft skills in the marketplace.

Ben Foote, CEO of the Australian Institute of Management, suggested that many businesses are overlooking soft skills in their training budgets, and in doing so are restricting their future growth potential.

“While only a minority of employees are currently being invested in for their training and development, the majority want to upskill to help them navigate the changing nature of the business landscape,” Mr Foote said.

“63 per cent of all jobs are expected to be soft skills-intensive by 2030. So that means that all employees, at every level, will need to learn complex problem solving, critical thinking, creativity, and people management which are all essential to navigate the constantly changing business world.”

However, he claimed that “Australia just isn’t ready, with soft skill demand far outpacing supply”.

“We speak to lots of businesses who say organising learning and development is time consuming, expensive and in most cases just for a few people who put their hand up the highest,” said Mr Foote.

“As the world moves faster, training is vital to empower and retain employees. AIM Access opens doors to learning for all employees as well as streamlining costs and easing administrative burdens.”

Soft skills dying out as training budgets slashed
mybusiness logo

Adam Zuchetti is the former editor of MyBusiness and a senior freelance media professional, specialising in the fields of business, personal finance and property. In 2020, he also embarked on his own business journey – inspired in part by the entrepreneurs and founders he had met through his journalistic work – with the launch of customised pet gifting and subscription service Paws N’ All.

Leave a Comment

Latest poll

How satisfied are you with the SME measures in the federal budget?