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Building talent and skills essential for economic recovery
By siliconindia
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Tuesday, 13 July 2010, 23:58 IST
Brussels: The current economic turmoil in Europe can be overcome by focusing on innovation and building the talent and skills of the workforce, believe a majority of CEOs. This point came in light in a survey conducted jointly by Accenture, and INSEAD, an international business school.
The Federation of Enterprises in Belgium (FEB) commissioned the entire survey and compiled the findings as a report titled "Putting Europe Back on Track" and presented it at the European Business Summit 2010. Putting Europe back on track is the main theme of the eight edition of the summit as well.
"To reinforce the foundation of talent in the region, it will be critical for Europe to foster its entrepreneurial spirit," said J. Frank Brown, Dean, INSEAD.
The survey covered more than 250 CEOs from public and private sectors. The respondents named various fields that will impact the recovery of Europe from the economic slowdown. Also specified were certain actions to be taken to sustain the recovery.
65 percent of the CEOs believed Europe can recover and become a leading player in the global economy by 2020. More than two-thirds of the respondents said their companies were looking at innovation as a key to putting their businesses back on track. While 70 percent believe that to take advantage of Europe's large pool of diverse resources, re-skilling or up-skilling their workforce over the next five years will be critical to Europe's future business success.