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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/lack-of-skills-hitting-firms.jpg"><img class="alignnone size-full" title="Firms are being held back because of a lack of skills among their staff, company directors have warned" src="http://londonglossy.com/wp-content/uploads/2010/12/min-lack-of-skills-hitting-firms.jpg" alt="Firms are being held back because of a lack of skills among their staff, company directors have warned"/></a></p>
<p>Firms are being held back because of a lack of skills among their own staff and in the wider workforce, company directors have warned.</p>
<p>A survey of more than 1,000 members of the Institute of Directors (IoD) found that a third were struggling to fill vacancies because of a shortage of suitably qualified applicants.</p>
<p>One in four firms had so-called &#8220;skills shortage vacancies&#8221;, said the IoD, while half of directors believed some of their employees were not skilled enough.</p>
<p>Miles Templeman, director general of the IoD, said: &#8220;It is disturbing that at a time of economic weakness, the growth of the private sector is being held back by skills shortages. Businesses want to invest in training and are doing so on a large scale already, but they would invest even more if the Government took some radical steps to deliver a better overall business environment.</p>
<p>&#8220;Excessive employment regulation and an uncompetitive tax system effectively eat up resources that businesses could use to fund training.</p>
<p>&#8220;The Government needs to put more emphasis on sorting out these problems if it wants to tackle skills shortages. The biggest barrier to greater employer investment in training is a lack of resource, not a lack of law.&#8221;</p>
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