Business Barometer 2024: Connections Radio Interview

The most recent annual report published by The Open University in partnership with the British Chambers of Commerce has revealed that persistent skill shortages are causing problems for organisations in various ways.

Our UK-wide employer survey of more than 1,300 employers, found that 62% of organisations are currently facing skills shortages. While this is down from 73% in 2023, the ongoing impacts are widespread.

64% say they are not confident about applying new AI and green technologies.
68% of organisations with shortages acknowledge this increases workload on existing staff.

Michelle Smyth, Head of Government and External Affairs at the Open University, discussed the findings with Glen Thompsett at Connections Radio. You can listen to the report's conclusions on Connections Radio's website.

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Download report - Business Barometer 2024

View the report’s methodology

Despite tiny green shoots of improvement, the skills gap remains stubbornly high. This year’s Business Barometer, exposes the impact of this enduring challenge on organisations of all types, including overwork, diminished productivity, and compromised wellbeing.

What’s concerning is the critically low confidence in AI and green technology and the lack of strategic plans or initiatives to engage vital underrepresented groups – both of which are essential to addressing the pivotal challenges of our future.

By fostering innovative strategies and inclusive initiatives, we can bridge the skills gap and build a more resilient workforce.
Baroness Martha Lane Fox CBE
Chancellor at The Open University and President of the British Chambers of Commerce

Skills shortages are impacting businesses and staff across the country and employers need to plan effectively and implement flexible, inclusive initiatives to develop and retain existing talent and attract more diverse groups into the workforce.

With the majority (70%) of students at The Open University currently working full or part-time during their studies, we are well equipped to support organisations through the skills shortage, offering flexible courses and utilising the latest online technology, to fit around business priorities and personal responsibilities.
Viren Patel
Director of Employers and Partnerships at The Open University