The proverbial “war for talent” is being driven by a shortage of skilled workers due to a lack of individuals with the necessary skills and experience for specific positions, intense competition for the resources that are available in the job market (especially high demand fields such as technology, healthcare, engineering and finance), high employee turnover and global competition for resources. The “war” also refers to efforts to keep existing talent from being lured away by competitors.
In the current and future climate of “dynamic business”, staying competitive demands a highly skilled and adaptable workforce. As organisations recognise the pivotal role of skills development and training, personal and professional growth is becoming a core priority.
Comprehensive corporate training solutions that include employee training and development through a combination of professional training courses, hybrid or online skills development, the development of critical 21st-century and transversal skills is fast becoming a key retention driver for employers. Companies need to remain forward-thinking and must reshape the landscape of training and development across varying skills needs that are specific to their industry and sector. Employers must invest in developing the “employer brand” by providing talent development, career growth opportunities and an attractive benefits package to ensure that they have the best chance to retain their top talent and prevent them from seeking opportunities elsewhere.
The focus on skills development will ensure that employees gain the necessary expertise to excel in their roles. Employers benefit from a workforce that is more proficient and capable of handling diverse challenges. Highly skilled employees boost overall productivity, increase efficiency and contribute to higher-quality outputs, all of which positively impact the bottom line.
Investing in training and development initiatives nurtures talent from within the company. Employer benefits also include a boost in employee morale and engagement that lead to reduced turnover rates (thus improving employee retention). Employees are more likely to invest in the company’s success and show a strong sense of loyalty when they feel valued and supported.
Collaboration with industry experts and professional bodies ensures that professional training courses align with the specific needs of the business sector. Employers benefit from employees who are aligned with the latest industry trends, regulations and best practices. This alignment leads to a workforce that remains competitive, innovative and adaptable to changing market conditions.
The accessibility of hybrid or online skills development programmes allows employees to learn at their convenience, without disrupting their work schedules. Employers benefit from the flexibility of these courses as employees can acquire new skills while staying productive in their roles. Additionally, organisations save on training costs and time, making it a cost-effective solution for upskilling and reskilling the workforce. The advent of microskilling programmes and courses also enable employees to learn key skills that are fundamental to their specific needs and situations in a relatively short space of time.
By developing critical 21st-century skills, employers can future-proof their organisations. Employees with these skills become invaluable assets, capable of driving innovation, adapting to technological advancements and tackling complex challenges. Forward-thinking employers recognise the importance of equipping their workforce with these skills to maintain a competitive edge in the ever-evolving business landscape.
Transversal skills play a pivotal role in fostering a positive work environment and effective teamwork. Employers witness improved communication, collaboration and problem-solving among employees - leading to a more cohesive and harmonious workplace. These skills facilitate seamless cross-functional collaboration between departments that enable organisations to tackle projects and challenges with agility and efficiency.
“Fit for purpose” solutions that are aligned to employee and employer objectives within the context of training and development will not only empower employees with essential skills but also provide significant benefits to employers. From an increasingly competent and engaged workforce to future-proofing the organisation with critical 21st-century and transversal skills - investing in employee development will yield substantial tangible and intangible returns.
Employers who prioritise training and development initiatives for career development and employee retention foster a thriving work environment, drive innovation and position their organisations for long-term success in an increasingly competitive localised global environment, and thus, effectively positioning themselves to empower tomorrow’s workforce.
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