Results from the first Australian Industry Group-Deloitte National CEO survey released today highlight the integral role skills play in lifting innovation and driving business success.  The study estimates that as many as a quarter of a million full-time employees are needed to satisfy current skill needs and finds that current skill shortages are severely impeding Australia’s innovation performance.

Ai Group Chief Executive, Heather Ridout, said the findings in the Australian Industry Group Deloitte report, Skilling for Innovation, provide important insights into the impact skill shortages are having on business innovation in Australia.

“A severe shortage in skilled staff threatens to undermine local efforts to boost innovation.  Almost 70% of the firms surveyed in the study claimed skill shortages had impacted on their business over the past year. Worryingly, 60% of these firms found that these skill shortages were restricting their ability to be innovative.

“Australian businesses are extremely aware of the importance of skills to innovation. In fact, the report shows that nearly two-thirds of Australian companies use upskilling of employees as a specific strategy to increase innovation in their business.

“The study found that a majority of Australian companies have adopted business management practices, such as a culture of information sharing; incentives policies; and measures to capture employee knowledge, using these as a lever for innovation.

“The CEO survey points to the need for the Federal Government’s review of the National Innovation System to consider arrangements specifically directed towards lifting the skills and capabilities required to drive innovation in Australian businesses”, Mrs Ridout said.

Giam Swiegers the CEO of Deloitte said that “Deloitte Australia’s investment in a national innovation framework and program has transformed our firm, creating a culture of innovation, which acts as a magnet for talent and business.

Click here to read the full Ai Group-Deloitte CEO Survey finds skill shortages holding back Australia’s innovation performance report 

Additional contacts:

Heather Ridout
Australia Industry Group
Chief Executive
+61 (0) 2 9466 5504

Tony Melville
Australian Industry Group
Director of Public Affairs & Goverrnment Relations
+61 (0) 2 6233 0700

Vessa Playfair
Deloitte
Director of Media & Communications
+61 (2) 9322 7576