A new apprenticeships programme and a drive to attract graduates are central to the strategy to tackle skills gaps and retain young talent, representatives from the Department for Enterprise have told the youth select committee.
Appearing before the committee Ann Corlett MHK and Head of Locate Isle of Man, Alison Teare, outlined current challenges and initiatives.
Dr Mark Yell, Chairman for Skills Isle of Man, identified the industries with growing demand.
“The industries with growing demand are engineering and manufacturing, and that’s expanding with advanced technical roles, automation, integration of AI, and also in terms of leadership positions.
“The second sector is finance, where there’s a growth in terms of funds, insurance, pensions, there’s demand for compliance, risk data analytics, ESG and also AI roles.”
Financial Services
A new financial services apprenticeship, developed with the London Institute of Banking and Finance and UCM, aims to address part of this need.
Mrs Corlett said: “Students will complete an agreed level three professional qualification online and will enrol with UCM into their level four, higher certificate, HNC in business.”
Beyond technical skills, officials highlighted a critical barrier for young people: confidence.
Ms Teare said: “There is a perception that, from their perspective, that the lack of confidence is a barrier.” She added, “I have heard from employers and from recruitment agencies that there is a lack of confidence in some people.
“They don’t feel confident going to interview their CVs aren’t up to scratch.”
Recruit
To attract and retain graduates, Locate Isle of Man runs a graduates ecosystem and a university awareness programme. “We’ve built relationships with five universities,” said Ms Teare. “We go to their graduate fairs, we go to their freshers events.”
When asked if there was enough cooperation between departments to equip young people for industry, Mrs Corlett said: “Working together always has better outcomes. So I’m very supportive of closer links.”
All speakers emphasised the importance of continuous learning and human skills in a changing job market.
With Dr Yell saying: “The only time you stop learning is when they put you in the grave.”