Three quarters of businesses plan to upskill or reskill their workforce, however ‘the current skills landscape makes investment in training a challenge’ in an employer-led skills system, according to ACCA.

65% of employers are struggling to recruit and retain staff, with three proposals to combat the issue. As ACCA has pointed out, training opportunities were the top answer employers were looking to invest in. Followed by ‘a focus on staff wellbeing/work-life balance’ and then an increase in salaries.

Joe Fitzsimons, senior manager at ACCA said: ‘ACCA members and UK employers have expressed concern around the ability to recruit and upskill the talent businesses need to grow. In particular, members in small and medium sized organisations cite cost and lack of resources as challenging factors.