In the latest World Competitiveness Year Book (WCY), published by Switzerland’s Institute of Management Development (IMD), South Africa (SA) was rated at a shocking number 54^th out of 139 countries in terms of economic competitiveness.

It is obvious that we all want SA to become a leading investment destination for growth and employment in the years ahead. SA cannot afford to lag behind its peers in emerging markets in terms of competitiveness as it seeks to attract foreign investment.

The latest Global Competitiveness report therefore remains a wakeup call to all of us about what needs to be done if the domestic economy is to be a catalyst for international competitiveness. It injects greater urgency into our search for solutions. There is really unfinished business on the national agenda that needs to be actively addressed to ensure that we unlock the true potential of the SA economy if we eventually want to reach a sustainable high growth rate. However, successful economic development is a complex and challenging process.

We first have to get the basics right before we can even think about sustainable economic growth.

Vocational training for better productivity is one of these basics. It is often viewed as an essential element of human capital formation and therefore as a factor fostering economic growth and international competitiveness.

If companies in SA work together and coincide in terms of creating a more skilled and productive workforce we will be sure to grow our international economic competitiveness considerably in no time.

Unfortunately, the norm for many companies in South Africa is simply to train for the sake of training. There is a general lack of dedication regarding the importance of developing skills in terms of a company’s bottom line. The fact that South Africa has laws that govern skills development, which have not made the necessary impact on the WCY statistic supports this viewpoint even further. This is truly something to think about.

The principle surrounding training is simple. Investing in education and skills development enhances job gratification and equips employees to advance within your company. This greater job fulfillment ultimately results in reduced turnover and better work productivity.

As an employer, ask yourself the following question:

What training are you providing to improve your productivity, or do you only think about training when its time to submit your Workplace Skills Plan?