This commitment to workforce development outpaces all other regions and nations within the UK.

On-the-job training emerged as the most favoured method of upskilling staff, with 59% of Scottish firms preferring this approach, followed by off-the-shelf courses and training materials (32%), and apprenticeships (31%).

Over a quarter (27%) of firms maintain that government investment in sector-specific training could enhance expertise within the region’s workforce.

The primary motivator for this investment in training and development is staff retention, identified by 53% of companies. Simultaneously, an equal number of businesses believe such initiatives can increase revenue, while half of the companies anticipate a rise in workforce productivity.

In a bid to bolster skills within the manufacturing sector, Lloyds Bank has extended its support to the Advanced Manufacturing Training Centre (AMTC) through a multi-million-pound sponsorship deal. This investment is projected to train 5,000 engineers, graduates, and apprentices by 2030.

Chris Lawrie, area director for Scotland for Bank of Scotland Commercial Banking, said: “It’s fantastic to see Scotland leading the way when it comes to training and developing their teams.

“Investment in training can have so many benefits for businesses, from increasing productivity among the workforce to encouraging new talent to join the company. We’ll continue to be by the side of businesses across the country as they support their staff to upskill.”