« Previous | Contents | Next »
Listen
Looking to the future: Year two plans
During a successful first year, tangible progress was made towards achieving the vision for the financial services industry in Scotland. The partnership of FiSAB and FiSIG has proved an effective one, with all partners contributing to achievements across all three strategic aims - tackling the issues that are important to the industry, not just those which are easy to address. The challenge now is to build on this success and maintain momentum through into year two and beyond.
Considerable effort was put into research in year one. This was important to provide insight into, and further evidence about, the needs of the industry and to create a strong footing for further action in year two. It has enabled FiSAB and FiSIG to gain a detailed understanding of a range of issues including:
- the current and future skills requirements of the industry
- the breadth of the supply network
- industry links with academia
This section outlines actions for year two across all three strategic aims giving particular priority to skills and labour market issues. Over the year, progress will be monitored against this set of actions and alongside a range of indicators.
Looking to the future: People and infrastructure
Aims:
- ensure Scotland offers a labour market which supports an internationally competitive financial services industry, by meeting the industry's current skills requirements and anticipating future requirements
- raise the financial capability of young people and the wider population in Scotland by building on Scotland's existing lead in this area
- maintain and improve Scotland's international competitiveness, by ensuring that infrastructure and the policy environment support the needs of the financial services industry and the people who work within it
Specific actions:
1. Improve the skills levels of existing and potential employees, by delivering and continuously improving a range of targeted skills initiatives.
2. Identify the future skills needs of the industry and develop initiatives to meet them, through active contribution to the work of the Financial Services Skills Council.
3. Strengthen the supply of high-calibre individuals to meet the current and future skills needs of the financial services industry through the Fresh Talent and Talentscotland initiatives.
4. Encourage an increased and diversified pool of potential employees for the industry.
5. Enhance the appeal of the industry as a career choice, by helping potential employees understand the industry and recognise the range of career opportunities it offers.
6. Ensure delivery of financial education in schools across Scotland.
7. Continue to support work to deliver financial education beyond the school environment.
8. Support the sustainable competitiveness of the financial services industry, by continuing to deliver a Scottish business-friendly regulatory environment.
9. Address the industry's transport priorities, by using FiSAB's influence to ensure:
- the National Transport Strategy and transport planning take account of the needs of the financial services industry
- the Route Development Fund is utilised to create new direct air routes from Scotland to key financial services locations across the globe
- the earliest possible delivery of EARL and GARL8, the new rail routes connecting Edinburgh and Glasgow airports to their city centres
10. Ensure improvements to the transport connectivity between Edinburgh and Glasgow, including rail links, by influencing key stakeholders to build on key transport studies including: the study underway into high speed links between Scotland's major metropolitan areas.
11. Ensure improved communications connectivity for the industry, by influencing the development and application of new technologies to support 'working on the move' between and around Scotland's financial services centres.
12. Ensure that planning decisions enhance the development of the financial services industry, by using FiSAB's voice to influence the National Planning Framework to recognise and support the needs of the industry.
Looking to the future: Profile
Aims:
- build the industry's profile, both at home and abroad by strengthening the "Scottish Voice" and delivering a shared approach to promoting the expertise within Scotland's financial services industry and Scotland as a global financial services centre.
- ensure that regulation and policy aligns with and supports Scottish objectives, by engaging with and influencing policy makers and industry regulators in the UK and in Europe
Specific actions:
13. Raise the profile of Scotland as an international financial services centre, by developing and delivering a Communications Plan targeted at key audiences in Scotland and around the world.
14. Continue to engage and influence regulators and policy makers, including HM Treasury, the FSA and the EU, by utilising the co-ordinated Scottish Voice of the public sector, private sector and trade unions.
« Previous | Contents | Next »