Retailers urged to act on business chiefsí skills plea

Skillsmart Retail has urged retailers to invest in skills during the economic downturn following a plea from business leaders today.

Leaders of major business organisations, including Skillsmart Retail Patron Sir Stuart Rose, used an open letter in national newspapers to call on all industries to invest in training during difficult times.

Skillsmart Retail, the Sector Skills Council for Retail, has urged retailers to follow this advice in order to stay ahead as trading conditions get tougher.

Anne Seaman, CEO of Skillsmart Retail said: ìWhile skills development may not be at the top of the list at a time of economic instability, the message from these industry leaders is very timely, and is especially relevant to the retail industry.

ìAs retail relies heavily on its people, continuing to develop both management and shop floor skills is an essential way of maintaining competitiveness as the market tightens, and I urge retailers to consider the advice highlighted today.ì

Todayís call to invest in training was led by the UK Commission for Employment and Skills – a government funded group set up to advise on skills in the UK.

Published in national newspapers including The Times, The Financial Times and The Guardian, the letter was signed by Sir Stuart Rose, Chairman of Marks and Spencer and Business in the Community as well as Sir Michael Rake, Chairman of the UK Commission for Employment and Skills, Mervyn Davies CBE, Chairman, of Standard Chartered plc, Brendan Barber, General Secretary of the TUC and Richard Lambert, Director General of the CBI.

In it they said: ìIn an economic downturn, there is always a temptation for businesses - large and small - to cut spending on staff training. When times are tough, it looks a simple way to cut costs. But it's a false economy. Research in 2007 confirms that firms that don't train are 2.5 times more likely to fail than those who do! Now is precisely the time to keep investing in the skills and talents of our people. It is the people we employ who will get us through.

ìThe skills of our people are our best guarantee of future prosperity - and the best investment a business can make in challenging times. We must not pay the price of failing to invest in the talent on which our future will be built.î

Skillsmart Retail is working with employers, Governments and the UK Commission of Employment and skills to make it easier for retailers to raise skills levels by helping them access high quality work based training and skills development.

More information can be found at www.skillsmartretail.com or contact 0207 462 5075.