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Brexit, Cashflow and Employee Skills Gaps Revealed as the Biggest Concerns for UK Businesses

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UK businesses are most concerned about Brexit, cashflow issues and their employees’ skills gaps, according to new research from leading learning provider Litmos Heroes.

The study of 500 UK firms found that almost a third (32%) highlighted Britain’s protracted exit from the EU as their biggest ongoing worry.

Cashflow came second in the list and was the most troubling topic for 18% of respondents, while 17% cited the lack of skills among their own staff as their most pressing problem.

But the study found that thousands of businesses are doing little or nothing to combat that employee skills gap, with almost one in ten (8%) admitting they don’t offer any digital training at all to staff.

The digital transformation of the business (14%), cyber-crime (8%) and retaining employees (7%) were also flagged as being of concern in the study, which was carried out to support the launch of Litmos Heroes’ new Cybersecurity course collection.

Tom Moore, Managing Director of Litmos Heroes, said:

“Brexit has been making plenty of headlines of late and even though progress has been made, the uncertainty surrounding our exit from the EU at the moment is clearly an issue that’s leaving business owners very concerned.

“We know that businesses do not like uncertainty and despite the March 2019 date being set by Theresa May, this is a topic that shows no sign of being cleared up any time soon.

“Cashflow, employee skills gap and digital transformation were also highlighted as serious ongoing concerns for businesses and that’s why we have put together a number of courses to give key decision makers the confidence to tackle these issues in 2018.”

The Litmos Heroes study also discovered what businesses are doing to tackle the employee skills gap. Almost one in ten (8%) admitted they don’t offer any digital training at all to staff while 20% said they only offer training on regulatory areas.

Just under half of those asked said their firm offers digital training on regulatory and on-the-job areas only while 28% said they train their staff on all areas, including soft skills.

“It’s slightly worrying to see that so many businesses offer no digital training for their staff, especially when you consider that almost half of the respondents in our study said they prefer to learn through videos or online training,”

Tom added.

“There’s a huge emphasis on increasing productivity in the UK at the moment and ensuring that staff are fully trained is one way businesses can really tackle the problem. Better training empowers organisations and employees, so we’d urge the business community to take note of these findings and re-evaluate their staff training programmes.”

Litmos Heroes is saving the world from boring learning with an ever-growing library of thousands of video-based training content and over fifteen thousand blended learning resources.

For more information on the range of course available or to request a free trial, visit www.litmosheroes.com/free-trial.

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Over the past 6 years, Rachel has been working specifically within the digital marketing space and has worked with some of the country’s top brands. During this time, Rachel was a key attribute to the success of our sister product, Recruitment Buzz, which has firmly established itself as one of the leading publications within the Recruitment sector. Drawing on her knowledge and experience, Rachel has developed a genuine understanding of how content can engage and compel an audience.

Having a passion for travel and culture, Rachel left her hometown of Cardiff to pursue studies and travel and after several years away, Rachel returned to Cardiff and firmly established herself within the development of Business News Wales. Rachel is now responsible for every aspect of web management, marketing and overall production of the Business News Wales brand.

Having learnt some invaluable skills within the marketing industry, Rachel is often called upon for her skills and knowledge of WordPress, HTML, email marketing software, Photoshop design and social media tools.

 

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