The pandemic has changed the way people feel about work and life in general. They’ve begun to see things from a different perspective, rethink their priorities, and reimagine how they spend their time. This combined with an influx of job vacancies across the UK has led to what’s been called the Great Resignation.
With the ending of lockdown bringing more stability in the jobs market after 18 months of largely putting hiring on pause, almost half (46%) of employed adults are sending off more speculative applications than before the pandemic. A survey by Randstad UK found that a massive 69% of workers felt confident to move to a new role in the next few months.
Victoria Short, CEO at Randstad UK said, “Covid has reminded people that life is too short – and the number of vacancies means that not only do they want to change one of the key aspects of their life – their jobs – they can.”
It’s now an employee’s market, and that empowerment shouldn’t be ignored. It’s time to focus on retention.
There are multiple things people value in a job, ranging from salary, flexible working opportunities, company values, perks & benefits, and additional annual leave, but one of the main factors is career development and progression.
Many people value progression and development highly in their jobs, with 70% of employed adults saying that they consider long-term development opportunities available within the company when applying for a role.
Having a defined development plan in place for employees is a great motivational driver to strive for a promotion, improve in their role, and visualise their future at your company.
They will become more engaged and fulfilled, as they are able to pursue specific talents and areas of interest. Increased confidence and job satisfaction could also lead to new ideas and ways to innovate in their role.
Well the real question is, ‘what if they leave due to a lack of training opportunities?’
Some businesses are hesitant to invest in employees as they think their efforts may be wasted on them going elsewhere. But training and development is actually more likely to lead employees to stay as they feel valued, challenged, and successful in their current role.
The benefits also don’t stop with the employee, training can help the business as a whole. More motivated and knowledgeable employees perform better - for example a Sales Qualification could teach tactics and skills that help a salesperson hit or even exceed their targets.
Development opportunities could include relevant professional qualifications, apprenticeships, and online courses. Professional Academy offer a range of training including:
For employees that are open to new opportunities or halfway out the door, providing ways for them to develop within your business could be the key to retaining them. Almost a fifth (18%) of active job seekers say that increased training and development opportunities would make them more likely to stay with their company.
As Victoria Short at Randstad said:
“Employers can help retain staff by making sure that they feel valued by their manager, that they foster a sense of belonging and ensure people have a sense of advancement within the organisation. Research demonstrates that employees value these much higher than employers realise.”
If you’d like to learn more about training & development and how it could benefit your team, please get in touch! Contact us to find out which options are best suited to your business and staff.
Online survey conducted by Atomik Research among 2,002 adults in the UK – all employed full (80%) or part-time (20%) – between 17th – 20th August 2021. Atomik Research is an independent creative market research agency that employs MRS-certified researchers and abides by MRS code.
Online survey conducted by Atomik Research among 2,001 adults – aged 18-64 in the UK who are either employed (full- or part-time), furloughed or unemployed – in February 2021.