1. CONTENT HUB / 294
It seems common sense that, if you have a highly engaged workforce with the right skills, it can vastly benefit your business. However, it is important to note that you need to consider all aspects when addressing your organisation’s approach to talent management. There is no point having a highly skilled and trained workforce if they aren’t engaged and motivated to complete their work, and vice versa.
Poor talent management can affect your business in a number of different ways. An untrained workforce can lead to an increase in the amount of time it takes to complete tasks and a higher number of errors and/or accidents. However, these issues can still occur despite considerable investment in training. Training will only make a difference to your business outcomes if it is addressing the right skills needs and being delivered in a way that allows time for learning and the opportunity to implement this learning on the job. So many businesses implement training without measuring whether it makes a difference to business outcomes and leads to a return on investment.
Another important reason to consider investing in learning and development opportunities in your business is that research suggests it is linked to high levels of employee engagement, even among staff members who are paid less. There has been a lot of discussion in the media recently about the living wage, with figures suggesting that one in five people in the UK earn below the threshold, placing the UK as one of the worst offenders among OECD countries (The Work Foundation). In this economic environment in particular, training and development can be of particular value to jobseekers, as many people still struggle to find their ideal job first time round. A strong career pathway within what might be considered a temporary role can encourage employees to view their job as a career, rather than a stopgap solution.
Poor employee engagement is linked to problems with staff retention levels. This can have a considerable cost to your business, with current estimates at over £5,000 to recruit a new member of staff. Addressing your employee engagement can have a significant return not only in terms of increased staff retention, but also through increased motivation and commitment.
Next month I’ll be discussing the various ways you can effectively address the issues discussed above, along with some hints and tips on how to get the most out of talent management solutions.
Reported by Alice Withers
The key role of line managers in talent management and succession planningRead More
Building an Effective Talent Management StrategyRead More
5 Ways to Engage Employees to Help Retain Top TalentRead More
What Is So Important About Talent Management?Read More
Download all presentations Conference Day [13/10]Read More
Download all presentations of Workshop Day [14/10]Read More
Is talent management the same thing as human capital management?Read More
What is talent management and why is it important?Read More