In 2014 Britain secured its position as one of the world’s leading nations for workplace talent, ranking 7th out of 100 surveyed countries[i]. This is a great acknowledgement of our world-class education system that also helps attract top foreign talent, while demonstrating the level of innovation and entrepreneurship in the UK. Attaining such a wealth of talented individuals, organisations across the country now have the opportunity to retain workforces that are fully engaged, productive and motivated.
Although this abundance of talent is a great advantage for the economy, it may also have negative effects on organisations. Skilled individuals are aware of their value as an employee and their ability to pick and choose where to work. Consequently, they are more likely to change jobs regularly, leaving organisations with the hard task of filling these talent gaps. In fact, this happened so regularly in 2014 that over a third of workers identified talent drain to other organisations as a workplace threat.[ii]
In order to attract and retain top talent, HR professionals need to utilise all available resources and expertise to secure a position as the preferred employer of choice, thereby remaining undefeated in the war for talent.
Big Data
Too often organisations notice gaps in their skills base after a key employee has left. For organisations looking to plug any current or future gaps in their skills base, the first step should be to analyse their key employment and performance metrics, to truly understand the structure of their workforce. A negative stigma is often attached to the term Big Data, especially among SMEs that may lack the tools and expertise to collect and successfully examine this information. However those workplaces that tap into their data, can obtain rich insight into all areas of HR, unleashing many organisational benefits.
HR data can expose important workplace productivity patterns and the impact external factors have on workplace trends, as well as reveal future recruitment and talent needs. These insights enable HR professionals to be proactive in designing strategic plans for staff and ensuring their employees remain satisfied in their positions, in addition to providing better understanding about how to seize individual talent from the UK skilled workforce.
Apprenticeships and placements
Despite the fact that the UK boasts one of the leading talent pools in the world, a recent UKCES report found that the number of vacancies unfilled because of inadequate skills has doubled since 2009[iii]. While the importance of education cannot be underestimated, hands-on workplace experience is particularly important in certain roles. Being immersed in a work environment equips individuals with the knowledge, interpersonal and entrepreneurial skills that prepare them for the career that will follow.
By opening up more routes to employment such as apprenticeships and placements, organisations are able to target specific talent gaps and build on candidates’ who already have an established foundation of skills. HR professionals can then reduce their staffing issues, and benefit from a workforce that is capable and engaged.
Nurturing existing employees
Whilst striving to achieve a talented employee base, HR professionals must not forget to nurture their existing workforce. By incorporating the development needs of employees into HR strategies, employees will remain satisfied in their role and productive in their output.
For example, offering Learning and Development opportunities is crucial in building competencies at the individual and organisational levels. Introducing schemes that target employee wellbeing will aid those staff that are becoming increasingly weighed down by the strenuous ‘always on’ workplace culture. Such strategies are key to employee satisfaction, whilst making the organisation a more attractive option to perspective employees.
The war for talent only continues to get hotter in 2015, making it more important than ever for HR professionals to be proactive in their role. Utilising the wealth of HR expertise and resources available will help them fill talent gaps and utilise the skills of individuals that readily exists in the workplace. Only then can organisations thrive from substantial employee value.
[i] Insead. (20 January 2014) 2014 Global Talent Competitiveness Index Report. http://global-indices.insead.edu/documents/INSEADGTCIreport2014.pdf
[ii] ADP UK. (11 November 2014) Workforce View in 2014/15. http://www.adp.co.uk/workforceview/white-paper-2014-15
[iii] UK Commission for Employment and Skills (31 January 2014) UKCES Employer Skills Survey 2013. https://www.gov.uk/government/publications/ukces-employer-skills-survey-2013
