Some feedback on Rishi Sunak’s spending review, which was announced in the Commons recently. Can we build back better ask globalists around the world? Yes of course, and the way to do it is to give people made jobless by the pandemic new hope, and new skills. UK insurtech could really boom in the 2020s with the right regulatory landscape, skilled workforce and empowered entrepreneuers. Just saying.
Becs Roycroft, (pictured) Senior Director at Technology Training Academy and talent provider mthree, comments on 2020’s Spending Review:
“This year has been devastating for countless businesses and individuals, so the announcement of new government help for those out of work, including a £375m skills package to open up access to training and reskilling opportunities, is very welcome.
“However, we also need to urgently look at what we can do to prevent unemployment and redundancies in the first place wherever possible.
“There will be many larger insurance businesses that are in a strong position to support the work that the government is doing, by retraining their own employees and moving them from struggling departments into teams that are still flourishing.
“Tech jobs have been amongst the least affected by the pandemic, with demand for skilled employees still incredibly high. However, due to the digital skills shortage, businesses find it notoriously difficult to recruit people for tech roles.
“Strategic reskilling programmes are a practical solution to this issue. By training existing employees and moving them into tech roles, businesses can tackle the growing skills shortage in a cost-effective way, while also preventing redundancies and protecting their workforce in the long run.
“Investing in reskilling programmes does not just provide a sustainable talent pipeline for businesses. It also minimises the time and expenses spent on external recruitment, removes the risks associated with making a bad hire, improves diversity across technology teams, and helps to create a loyal, motivated and engaged workforce.
“If the government is really serious about upskilling and training, it would be great to see it actively encouraging more businesses to consider this option, and offering help and support where needed to make it feasible for as many organisations as possible.”