Investing in just five key areas could unlock £33bn across the economy, raising growth to 2.8% by 2030, says Accenture’s Dominic King.
The UK can lay claim to international leadership in many areas: one of the world’s largest renewable energy markets, a tech start-up scene which is larger than the rest of Europe’s combined, and four of the world’s top ten universities.
But there’s one aspect where the UK has lagged over the past decade: productivity. An hour’s work in the UK generates less wealth than the G7 average. Over the past decade, productivity growth has barely shifted.
The skills shortage compounds the problem. There are more job vacancies than people available to fill them.
If companies are to grow, it follows that they must find ways for their current workforce to achieve more during their working day, not by hiring more of them, or by cutting costs. Instead, businesses must ask how they can empower their people to work smarter.
Digitisation – and a culture of digital enablement across the business – holds man
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