A word from the president: 'there is a critical skills shortage in many regions that's likely to get worse'.
| Author | Furber, Malcolm |
One of the events I am most looking forward to as CIMA's new president is the final of the Global Business Challenge (GBC) in South Africa next month. For me, this event embodies all the best qualities of the institute.
The competition provides a platform upon which future business leaders can develop their skills and ambitions--whatever their background.
Corporate social responsibility is also a key element of the GBC. The integrity shown by the finalists in past years has given me great confidence that the next generation will avoid some of the cavalier mistakes made by a minority of today's enterprises.
The importance of providing the right type of career support and guidance for the next generation was recently brought home to me when I read an article in the Economist. The magazine calculated that almost a quarter of the planet's young people are neither working nor studying. A third of those who are employed rely on informal or intermittent jobs, making it difficult for them to gain skills.
Meanwhile, there is also a critical skills shortage in many regions around the world that's likely to get worse. As a resident of South Africa, I see this problem all around me. There are numerous government-backed schemes in the pipeline here that are designed to help bring young people into work. But it is clear to me that South Africa's young people could benefit greatly from professional qualifications that, like CIMA's, are both accessible to all and specifically tailored to employers' needs. In such regions, the institute's mission of "helping people and businesses to succeed" could not be more appropriate.
A recent report published by the McKinsey Center for Government highlighted the urgent need for a more joined-up approach to this issue and a better-informed dialogue among governments, education providers, employers and young people themselves. CIMA is acutely aware of the global shortage of skilled finance professionals and it takes great care to ensure that its syllabus and strategy equip members with the skills that employers need.
With this in mind, CIMA is reviewing a survey of nearly 130,000 young people who are...
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