SSP Brochure:Layout 1 - INSETA

• The racial profile of graduates in business, commerce and management sciences is also changing rapidly. Thus, the number of new blackgraduates who are potentially available to the sector is increasing.• Employers in the sector seem to be actively involved in the provision of in-service training to all levels of staff. They have also developedsophisticated training infrastructures, which provide sufficient capacity for training.• Professional bodies play a key role in the provision of CPE and the upgrading of the skills of the workforce.Despite these positive developments, the sector also faces tough challenges:• The sector competes with the rest of the economy for high-level financial skills. Other participants in the financial services sector arealso bound by the Financial Sector Charter and will therefore also be competing for skilled blacks. A major challenge is to attract enoughof the black graduates, to provide them with industry-specific knowledge and skills and to retain them.• Some spare capacity (in the form of unemployed people with qualifications and experience in the financial services field) exists in thelabour market. However, it is unlikely that there are many unemployed people with knowledge and skills that make them readilyemployable in the sector.• The flow of skills onto the labour market is somewhat inhibited by the low numbers of learners who matriculate with mathematics as asubject and new entrants’ lack of numeracy and English language skills.INSETA Sector Skills Plan - page 33