Why upskilling current staff could save a headache in the future
I have discussions with many business owners about how vital having the right talent in their business is the difference between meeting their objectives or not, writes Jane Wills, partner, Haines Watts Slough
According to the CBI, 79% of businesses expect to increase the number of higher skilled jobs in the next three to five years with 66% worried that there will not be enough sufficiently skilled people to fill these roles.
So, how will you ensure you continue to have the right people in your business? Upskilling your current staff could be the most effective way to plug this gap, here are some key benefits of investing in your current team:
• Rotation of responsibility
No one member of your team should be the only person with the capability to do their job. If a key member of staff decides to leave it is vital for your business that another member of your team is able to step up into their role.
• Talent retention and attraction
The majority of the younger workforce prioritise professional development opportunities while job seeking. Having a plan in place to that allows your people to continue to develop their skills will retain existing staff by giving them new challenges and opportunities within your company rather than needing to seek them elsewhere. Having this clear plan embedded in your culture will also naturally attract new talent seeking these development opportunities.
• Save on recruitment costs
Although having a solid upskilling programme in place could make recruitment easier, sometimes it is more cost effective to avoid it. While the recruitment process itself can be very expensive, particularly at higher skilled levels, you also need to account for a period of training where your new recruit will settle into and get to know the business.
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