A study by New Street Consulting Group (NSCG) has found that almost two in three (29%) FTSE 100 companies are experiencing significant skills gaps on their boards, with the most commonly cited discrepancies falling on technology-focused roles.
Tech professions hold the biggest talent shortfall at 13%, followed by environment, social and governance roles at just 7%.
On top of this, an analysis of board evaluations from the yearly reports of all FTSE firms revealed that more than two-thirds (68%) of companies admit to having issues with succession planning.
“As the war for talent intensifies due to the post-pandemic circumstances, employee development and talent pooling will become increasingly vital to building a modern workforce that’s adaptable and flexible” – Agata Nowakowska, Skillsoft
The findings follow warnings from professional services specialists Grant Thornton in November that 78% of the FTSE 350 gave little or no insight into board succession, while 82% were unable to explain how they identified and developed suitable candidates to fill senior management positions.
Agata Nowakowska, area VP of Skillsoft, commented on the findings, saying: “The skill gap has been growing exponentially for some years and this research shows that Britain’s biggest employers are failing to invest time and attention to their talent pipelines, and face significant skills gaps at board levels.
“As the war for talent intensifies due to the post-pandemic circumstances, employee development and talent pooling will become increasingly vital to building a modern workforce that’s adaptable and flexible. Addressing and easing workplace role transitions will require new training models and approaches that include on-the-job training and opportunities to upgrade their skills. Similarly, investing in digital talent platforms that foster fluidity by matching workers and their skills with the new work opportunities within the enterprise will be key.”