Workers that have a deeper skill set are able to command a near £6,000 salary premium in the jobs market, reveals new research published today.
Low levels of skills among the UK population is stopping workers from accessing a £280,000 lifetime earning boost, according to research carried out by YouGov and the Skills Builder Partnership (SBP).
Businesses run the risk of losing existing workers if they do not offer programmes to upskill them.
“Only 14 per cent of all workers have ever been given a chance by their employer to develop essential skills through structured learning – despite 83 per cent wanting such opportunities,” YouGov and SBP said.
Losing workers right now could be costly for businesses due to the highly competitive nature of the jobs market.
The organisation said soft skills such as communication can boost workers’ employability and future earnings power.
“There is nothing ‘soft’ about skills that are essential to life. This study proves, in terms of pounds, progression and personal wellbeing, the rewards of early opportunities and lifelong learning,” Tom Ravenscroft, founder of the SBP, said.