The Guardian / Worker shortages

This article in The Guardian confirms the pressure on employers for rate and wage increases due to “Britain’s worst labour shortage in decades”.

They state that “Businesses across all industries told the ONS a lack of suitable applicants was the main reason for being unable to fill vacancies”.

These shortages across all markets, inevitably add pressure in driving up pay to attract new Talent that may be needed for growth; but can also be to replace the Talent ‘lost’ to enticing opportunities outside the business.

Is the only reason people are leaving their roles about the ‘money’?

As a recruiter our role is to understand each of our candidate’s ‘Drivers / Motivators’ in priority order and not always is money the only or even the top priority.

This better enables us to deliver opportunities that match their needs / wants as part of their career development.

Surely then, as part of your business culture, this practice should be a key part In retaining your Talent.

As Richard Partington also confirms in his article, “In the long-run executives acknowledge more investment in training for the domestic workforce is vital”. This is a key part of the increased investment required.

Whilst developing your people is a measurable part of retaining your Talent, it’s also proven to drive innovation and productivity increases, which in any market will deliver competitive advantages and a real ROI.

Having these proven L&D structures in place, will also better enable you to attract the best new Talent available.

How personalised are your Talent development structures to grow and retain your Talent?

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