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Graduates lack basic skills

Thu 15 May 2008

15/05/2008

Graduates entering financial jobs are often lacking in basic skills, a new report has claimed. The Chartered Insurance Institute (CII) has found literacy and numeracy skills are poor and employers struggle to get well-trained staff. Results of the study should act as a "wake-up call, if indeed one was needed, that we all need to play an active part in raising skills levels", said CII president, Lord Hunt. It found 61 per cent of employers found graduates lacked these simple skills and more than half declared the education system was not supporting the financial services' needs. "In this period of economic instability it is vital that we do not take our eye off the skills issue," Lord Hunt said. "Cuts to training budgets in order to make a quick saving will prove to be a false economy." The issue has become so critical it is now on the agenda in four out of five boardrooms, an increase of 20 per cent on 2007.


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