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Training and Development Deficiencies in High Skill Sectors by C.Lloyd Analysis - Article Example

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The article "Training and Development Deficiencies in 'High Skill' Sectors by C.Lloyd Analysis" focuses on the problem of 'high skill' training in the UK, and what implications do Lloyd's concerns have on the future of the UK labor market. The problem is a skill shortage in the United Kingdom is not a new reality…
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Training and Development Deficiencies in High Skill Sectors by C.Lloyd Analysis
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Download file to see previous pages Academics, employers, employees, and the government alike are concerned over the deteriorating high-skill human capital and its impact on the UK economy. One such academician is Caroline Lloyd. In her article "Training and development deficiencies in high skill sectors" (2002), Lloyd raises concerns over the lack of training and development and its impact on the UK’s competitiveness in the new knowledge economy.
In Lloyd's article, she presents the thesis that there is an acute need for emphasizing the centrality of skills and training for the UK to compete in the new knowledge economy. Companies need to create learning environments so that employees will be able to adapt to the changing work requirements. This can be achieved through internal training and continuous vocational training. However, the current work environment does not meet these requirements. There are two explanations for the lack of training and development in organizations.
Lloyd claims that one reason could be the market failure to provide individual training. This could be improved by providing a central incentive program for training employees, motivation for employers to develop their human capital, and set up best practices to influence employer behavior. The second reason, as other academics provide, is because the UK is a relatively low-skill economy. Employers are not competing in high-end products in standardized markets. For this reason, they are not motivated to develop their workers for higher progression. To alter this status quo of skill deficit, the government needs to implement policies to restructure the market and industries.
By using two companies from high value-added product markets, Lloyd establishes that despite the companies' success in their product markets, they are constrained by their industrial environment. ...Download file to see next pagesRead More
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