The skills shortage is costing over £6 billion per year to UK employers due to greater training costs, as well as recruitment costs and employment of temporary staff.
According to government data, in the past 12 months over 90 percent of organisations in the UK with open positions in their workforce have struggled to find suitably skilled individuals to fill the gaps.
The modern world has a constantly growing demand for digital expertise combined with an ageing workforce. No matter the sector or size of your business the skills shortage is a problem that isn’t going away any time soon and you can’t afford to ignore it.
Consider the following advice to tackle the skills shortage and bolster your workforce:
• Retention of staff – Keeping hold of your current talent should be a priority, this may mean offering additional incentives, such as, recognition of hard work, flexible hours, or just creating a positive and rewarding work environment.
• Efficient training – Training employees does add a cost, however, if carried out in the correct way, the long-term benefits of an up skilled workforce can far outweigh the costs. This can be done by identifying the key areas to work on with an effective format and set goals to meet in a reasonable time frame.
• Recruitment – Similar to staff training it is important that you minimise wasted costs on the recruitment process. This can be done by advertising in effective locations, making use of social media platforms and attending recruitment fairs.
For additional guidance and insurance solutions contact Bullerwell & Co Ltd today.