West firms and business organisations need to collaborate more and embrace innovation to help nurture the region’s talent pool, according to the regional president of the Institute of Chartered Accountants in England and Wales.
Speaking to more than 500 delegates at the ICAEW annual dinner in Bristol last week, Rick Sturge said firms needed to look at alternative education models if they were to attract and retain the best talent in the region.
The West of England was a great place to do business, Somerset-born, Bristol-trained Mr Sturge said. But businesses had to look beyond the traditional ways of recruiting people. If they failed, then the skills shortage would undermine the region’s ambitions.
“We have to challenge traditional education models,” he said. “Growth in the region will only continue if we have the right talent available to fill the roles which will be created.
“The talent agenda is a core component of the regional ICAEW strategy. That’s because we believe the professional services sector which we represent, together with other business sectors, has a collective duty to inspire future talent to be part of the business-rich landscape here in the West, including traditional, hi-tech, services and creative industries, as well as our significant track record for entrepreneurship.”
He said there were huge opportunities for businesses to take advantage of major investments underway in some of the region’s educational establishments such as Weston College’s Law & Professional Services Academy and UWE’s new Faculty of Business and Law.
He also encouraged businesses to explore alternative educational models such as apprenticeships which span many industries.
“The building blocks are in place – now it’s down to the business community to make it happen,” he said.
He called on the region’s business community to be more innovative in helping to fund young people as they started their working lives at the same time as paying rents and student loans back.
And he also urged more collaboration between the region’s business groups to enable effective joint working for the benefit of economic development in the region. The ICAEW, which represents business finance professionals in the region, was already collaborating with the CBI, IoD and Bristol Law Society to ensure a more joined-up approach.
There was also a need to harness business support for the region’s arts and charitable organisations to recognise the vital role they play in inspiring creativity and young talent and raising the region’s profile.
The dinner was sponsored for the 10th year by regional law firm Thrings, which has its largest office in Swindon.
Managing partner Simon Holdsworth expanded on the education and talent development theme in his speech to guests, saying: “With today’s clients and future clients becoming increasingly discerning and ever-more diverse, the generation span is wider than ever, and providers of professional services now have to demonstrate greater levels of flexibility and agility when working with clients.
“The legal profession remains extremely competitive, and a growing number of law firms are now seeking adaptable, flexible team players who can not only understand and advise on legal matters, but who can also communicate effectively with clients and work as part of a team.
“The traditional path of university to law school to trainee to solicitor to partner is now just one of a number of different routes to a successful career. Many of our solicitors have non-legal degrees, we have non-solicitor partners and we are soon to appoint our first-ever legal directors. Our new elective development curriculum, meanwhile, allows people to undertake training to develop their softer skills and provide clients with a more rounded service offering.
“Across the board, our clients are looking for continuity of delivery. Longevity of talent is crucial to maintaining long-term relationships with clients. Few people – least of all clients – like change, so the imperative to meet the varying needs of our people is now more important than ever.”
Sponsoring the event for the first time was Brunel Professional Risks. Director Jonathan Filer said: “SME business across the country is now consistently challenging the status quo of the so-called established power houses across all industries, and none more so than amongst our culturally diverse entrepreneurs within the South West.
“Clients too are looking away from the major names towards specialist or upcoming firms, and in order to keep up with this bucking trend businesses within our region need to continue to support the growth of our various education centres.
“We at Brunel take great pride in the number of UWE graduates within our ranks and the support that we are looking to provide the flourishing apprenticeship schemes on offer through Weston College. It is vital that we as a business ensure we continue to employee a high calibre of individual, and whether that is proven through academic or personal attributes does not always come into our considerations but what does is their willingness upon arrival to continue their own personal development.”
Guests were entertained by impressionist and comedian Rory Bremner, who drew on his long career as a political satirist to poke fun at a wide range of characters from Tony Blair, Gordon Brown and David Blunkett to David Cameron, Boris Johnson and Nigel Farage via presidents Clinton, Bush and Obama.
The event supported the Prince’s Trust.
Pictured, from left: Thrings managing partner Simon Holdsworth, ICAEW national president Andrew Ratcliffe, Rory Bremner, ICAEW West of England president Rick Sturge and Brunel Professional Risks director Jon Filer 
