When it comes to developing the talent required to fuel growth, one key factor – whether you are looking at a high performing company, industry or economy – is that it is vital to take a strategic view.
Well before Brexit became an issue the Irish Government put in place IFS2020 which had the overarching goal of creating an additional 10,000 jobs in the International Financial Services (IFS) sector by 2020. One of the key strands of this strategy was (and continues to be) education and skills. While Ireland can boast many favourable statistics on demographics in relation to the size, age profile and educational attainment of its workforce, it is equally if not more important that the skills available and being developed are in sync with the requirements of industry.
In 2015 the Summit Finuas Network (now IFS Skillnet) partnered with Accenture to carry out a high level study on the skills needs for the IFS sector. That report (A Skills Needs Analysis for the IFS Sector) highlighted that over 90% of respondents said that recruiting key talent would be a significant driver of future growth and over 60% said that developing skills would be a determining factor in future growth.