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Education, Education, Education

Education, Education, Education

The timing of this earning and learning feature is very relevant, with Gordon Brown pledging only last month to make the UK "the number one in the world in education". According to the latest estimates, whereas we have 3.4 million unskilled jobs in the UK today, we will only need 600,000 by 2020 and therefore the requirement is for employees to become more skilled. Brown went on to say that "if the UK is to continue to succeed in the new global economy we will need to be more ambitious, with more people training and employers, employees and government each meeting their responsibilities". So the message coming from central government is simple and very strong: skills are important today and will become even more important as the demand for unskilled employees reduces, and this during a period of high forecast economic growth. Whether this pledge is financially backed remains to be seen but it is likely that a significant requirement will be placed on employers to meet this pledge.

The skills pledge doesn't just stop at central government and, as a lot of City AM readers will already know, a lot of drive and support for this education programme is coming from here in the City of London. London and New York are recognised as the two largest financial centres in the world, according to the 2005 Corporation of London Report (The Competitive Position of London as a Global Financial Centre). The report singles out the availability of skilled personnel and the nature of the regulatory environment as the two most important competitive factors affecting international finance centres. The availability of skilled personnel is the most relevant factor from my point of view, but it also appears to have been music to the ears of The Lord Mayor of London, John Stuttard, who last month launched the "City of London – City of Learning" programme. This programme sees London launching its own skills drive, from accountancy and financial analysis to law and professional development, to strengthen its position as one of the largest and most successful financial centres.

The aim of this programme is to strengthen business education and professional learning within the City of London. 90% of all respondents to the Corporation of London report listed the availability of skilled employees as either ‘very important’ or 'critically important'. The high priority placed on the availability of skilled employees was also the case in 2003 and so this is not new to us. The good news for employers is that 98% of respondents in London said the availability of skilled employees was either ‘good’ or ‘excellent’ and this creates a major competitive advantage for London in attracting and retaining the very best organisations and individuals.

So what is the relevance of this to individuals and firms operating in the City?. Well, we all have a vested interest in ensuring that London maintains and enhances its competitive edge. Naturally, we also each have our own vested interest in enhancing our individual competitive edge. Not only is education important now but it will become even more so in the future. The availability of highly skilled recruits is already high, so gaining professional level qualifications and undertaking ongoing professional development will make yourself and your organisation stand out from the crowd.

As this major push from central government allies with local initiatives from bodies such as the City of London and, most importantly, a heavy pull from individuals and organisations, the early 21st Century is already evolving into an exciting and challenging time for everyone involved with professional education.

For anyone with ambitions to build their career further within London’s increasingly professional and internationally-focused financial services community, a vibrant training and development culture, taken more and more seriously by employers and government, can only present huge opportunities. As specialist training providers, we are working hard to develop practical, relevant and focused courses to meet an ever-growing demand from employers keen to attract, train and retain market-leading teams.