Just a 1% increase in productivity, achieved through upskilled management, can add £200million in GDP, according to Employment and Learning Minister Dr Stephen Farry.
He made the claim while announcing a package of free leadership and management programmes for local businesses. The Department for Employment and Learning will provide 100% financial support to businesses and social economy enterprises that utilise the Department’s leadership and management suite of programmes. The Minister said: “Leadership and management skills are a key factor in fostering innovation, unlocking the potential of the workforce, increasing productivity and growing our economy.
“Improving our leadership and management capability is fundamental to creating a culture where more organisations have the ambition, confidence, and skills to respond to the current economic conditions and compete successfully both nationally and globally.
“The 100% financial assistance I am announcing today will support this process by creating a framework for business growth and by providing specific support to organisations. Northern Ireland businesses will now be able to train their management staff at all levels with full financial support.
“Research demonstrates that an increase of just 1% in productivity, achieved through better management, can add £200million in GDP to the Northern Ireland economy.” Welcoming the announcement, Linda Brown, divisional director of the Institute of Directors in Northern Ireland, said: “An investment in leadership skills can significantly improve the performance of a business and research has shown that the standards of leadership in Northern Ireland are still below average.”
Wilfred Mitchell OBE, Northern Ireland policy chair of the Federation of Small Businesses (FSB), agreed saying: “The FSB is delighted with the 100% funding for these training schemes. Our members have told us very clearly, through our Voice of Small Business Survey panel, that the greatest incentive to enabling their participation in any training is additional funding.”
Details of the programmes, how to apply and eligibility criteria can are found at http://www.nibusinessinfo.co.uk/madenotborn or contact the Management Development Branch at the Department for Employment and Learning on 028 9090 5344.