C-suite says nation needs to boost tech skills to become the digital “powerhouse we want it to be” as 40% of new recruits leave their job within a year.
The UK workforce as long been blamed for not having the right skills or training, which has now been found to be costing the economy £56 billion every year.
Employers are having to replace workers as those with poor training leave their jobs, researchers have found.
Glasgow based Create eLearning found that 40% of staff leave their company within a year after receiving poor or no training at all.
The study also unveiled that companies typically save between 35% and 60% on their training schemes.
The company said that by bringing in a comprehensive training programme, accessible to all staff, money can be saved on recruitment and re-training costs – avoiding downtime while roles lie vacant.
In July, Chancelllor George Osborne announced in the Government’s Summer Budget a funding of £45 million for the country’s digital economy.
Funding will be given to six new multidisciplinary research centres to drive forward research, knowledge and skills in order to boost the digital economy.
Simon Hill, CEO at Wazoku, told CBR: "The lack of skilled workers has a major impact on UK productivity, and to not focus on this could leave the UK at risk of continuing to not be as productive as other countries.
"I believe that there are more skilled, open roles in the EU technology sector than there are people who are unemployed and seeking employment. I welcome any measure that addresses this skills shortage.
"We need to be promoting key programming skills, technical training, infrastructure skills, even sales training and negotiation skills much earlier in the academic process.
"If the UK is to be the technological and entrepreneurial powerhouse we want it to be, then this must be a priority."
Mark Taggart, CEO at Create eLearning, said: "Companies can spend millions on training courses that are seen as a jolly or weekend away, but information is actually absorbed better in bite sized chunks.