A new research has revealed that European businesses are failing to provide their staff with adequate skills development, as reported in personneltoday.com. More than 90 per cent of businesses stated that improving skills is very important in maintaining a competitive edge, a third have yet to establish a skills development programme. This was revealed after a survey from analyst firm Forrester Consulting. The IBM-commissioned survey was based on responses from more than 250 board-level executives from companies in France, Germany, Italy, the Nordics, Spain and the UK. It shows that on average, companies are investing only 0.05 per cent of their revenue in skills development.
Workforce slashed at P&O
The shipping giant P&O decided to close four of its 13 ferry routes with the loss of about 1,200 jobs, as reported in independent.co.uk. This will reduce the number of ships that it operates from 31 to 23. The company said it would be closing all its Western Channel routes except Portsmouth-Bilbao. The move is expected to save £55 million a year. According to P&O, its tourist traffic had been adversely affected by the reduced number of day trips and the expansion of the low-cost airlines.
Employee pension discouraged
Research claims that finance directors at small to medium-sized enterprises have doubts whether company pension schemes would benefit their businesses and actively discourage employees from joining them, as reported in personneltoday.com. A study by the Pensions Institute at Cass Business School shows that many finance directors are not convinced about pension schemes attracting, retaining and motivating their staff.