The UK’s recent slump into recession – coinciding with big headlines about redundancies at major corporations – would indicate that the pendulum is swinging away from a “candidate’s market” to one where organisations are putting their recruitment missions on hold. But the data is saying quite the opposite – with companies still fighting tooth and nail for top talent.
According to the numbers published by The Chartered Institute of Personnel and Development in November 2022, the net employment balance, which measures the difference between employers expecting to increase staff levels and those expecting to decrease staff levels in the next three months, remains above pre-pandemic levels. The report also found that as many as 46% of recruiting employers have hard-to-fill vacancies – positions in which they are actively seeking – and struggling – to source strong candidates that fit the bill.
The competition for the best people in the right roles remains fierce. And it’s no different in the Technology Channel. This is why businesses in this sector are beginning to add a new arm to their workforce upskilling approach: developing staff they already have in-house.
Learning and development (L&D) is fast emerging as the favoured solution for fostering talent in the current climate – offering programmes for existing teams that not only act as an incentive for candidates, but also motivate and engage current employees long-term.
Here’s why L&D is key to building a workforce that stands the test of time and generates excellent results in the process.
A culture of commitment
The glaring benefit of L&D programmes is their appeal for new, ambitious candidates who are seeking a workplace in which they can grow and thrive as part of a fresh chapter in their careers – with opportunities to progress and learn frequently cited as one of the major factors in job satisfaction.
However, it’s also important to recognise how these training and development sessions can breed real loyalty to a brand for existing teams.
Employees that are frequently learning new skills and adapting to new challenges in the industry are the individuals that feel empowered and will commit to a further career within the company. With courses and tools readily available, staff feel valued as the business is visibly investing in their professional development.
EMPLOYEES ARE MORE DRIVEN TO DEDICATE THEMSELVES TO COMPANIES THAT OFFER CONTINUOUS LEARNING, WITH L&D CREATING AN INVALUABLE CULTURE OF COMMITMENT THAT CAN YIELD LONG-TERM SUCCESS.