STEM Roundtable

“STEM” is an acronym for subjects relating to science, technology, engineering and maths. It’s more than just a subject you learn in school. STEM encompasses a lot of what we do in our day-to-day lives. Whether it’s the devices we use, the machinery we operate or the routines we maintain, most of us are heavily involved and impacted by STEM (whether we think it or not). However, STEM skills are in short supply. Globally we are experiencing a widening gap where there are not enough people with the skills and knowledge necessarily to fulfil STEM roles. Science and technology is growing rapidly, and with that comes the need for new skills and knowledge to fulfil roles, some of which have not even been invented yet.

How does it affect you? Well, in the UK alone the skills shortage is costing employers £1.5bn a year. Despite the fact that the growth of STEM related jobs has risen 4.5% compared to non-STEM jobs since 2003, and will continue to rise for the foreseeable future. This means the UK is missing out on inward investment as almost half (48%) of STEM business are looking abroad to find the right skills. The bigger issue comes down to education – where young people are turning away from STEM subjects due to a lack of knowledge while adults are apprehensive or simply unaware that they can upskill or retrain.