Closer working will deliver long term regional benefits

The lead partner at one of Birmingham’s top five accountancy firms has warned Midlands’ businesses that adopting a short term view when it comes to education and training will leave the region ill-equipped for the future.

The comments from Mark Anslow of BDO are in response to research announced this week that found Midlands’ business leaders believe closer working between industry and education is vital in addressing the region’s skills shortage and weathering the current economic climate.

The annual ‘Midlands Matters’ Report, commissioned by accountants and business advisors BDO, polls the opinions of financial directors, managing directors and chief execs from top Midlands firms on current business issues and how they directly affect Midlands companies.

Anslow explains: “43 per cent of respondents felt that there was a skills shortage in either the Midlands or their specific sector, which highlights a real issue for the region’s businesses.

“When asked what the possible reasons were for this shortage, feedback commonly referred to education and training as the key issues, with 40 per cent and 35 per cent of respondents stating a lack of quality education and insufficient investment in training, respectively, as the reasons for this shortage.”

The ‘Midlands Matters’ Report also polled business leaders on what measures they felt would best address the skills shortage in the region with just over a fifth (21 per cent) identifying the need to encourage closer working relationships between industry and education as most important.

Professor Helen Higson at Aston Business School, welcomes the findings: “Strong working relationships between educational establishments and industry are vital to ensuring individuals have the right skills for current and future business needs.

“We have a strong commitment to achieving this with our well established graduate placement programme that works with FTSE 100 companies to ensure every student gains a year in industry as part of their degree.

“It should be noted, however, that the need to forge these links and work together lies not just with government and education. It is a policy that should be actively adopted by both industry and educational establishments, those who will ultimately benefit.”

Anslow believes that in today’s current economic climate this is more essential than ever: “Education and training is one of the first things to be cut back when times get hard.

“However, experience and common sense tells me this is a dangerous tactic. The need to work both independently as a company, as well as in conjunction with education, is vital to ensure we are developing the skills needed both today and in the future. In doing so, our region will be equipped to meet business demands when the market becomes more buoyant again.”  
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Notes to editors:
• The ‘Midlands Matters’ Report interviewed 100 financial directors, managing directors and chief execs from top Midlands firms between July and August 2008
• BDO LLP operates across the UK with over 3,000 partners and staff. BDO LLP is a UK limited liability partnership and the UK Member Firm of BDO International. BDO International is a world-wide network of public accounting firms, called BDO Member Firms, serving international clients. Each BDO Member Firm is an independent legal entity in its own country. The Belfast Firm is operated by a separate Partnership.
BDO LLP and BDO - Belfast are both authorised and regulated by the Financial Services Authority to conduct investment business.
• BDO is an award winning firm. Recent achievements include:
o '100 Best Companies to Work For' - The Sunday Times 2008
o 'Best Workplace UK' - Financial Times 2007
o 'Top 50 Where Women Want to Work' - The Times 2007
o 'Employer of the Year' - Accountancy Age Awards 2007
o 'Global Firm of the Year' - Accountancy Age Awards 2006