The importance of nurturing talent in an uncertain market

We have noticed an air of cautiousness among our clients and in terms of recruitment, companies have been careful not to recruit for non-essential hires. However, hiring is essential for companies to grow and develop, therefore there needs to be a recruitment focus on hiring top talent in areas that they believe will improve their business model, rather than avoiding the process altogether. This coupled with full employment has deterred candidates from moving careers, so it has never been more essential to develop and upskill your current staff to ensure you are retaining and nurturing your top talent.

There has been much speculation about businesses jumping ship and moving out of the UK in the lead-up to Brexit, however, we haven’t heard of such talk within our client base. Candidates are facing uncertainty because businesses are reluctant to make hard and fast hiring decisions. 

There have been significant investments into the UK’s infrastructure and a growing focus on attracting apprentice engineers into the industry. The planned HS2 is one such project requiring a large workforce up to completion. A steady stream of skilled engineers and entry-level professionals are essential to drive these developments. 

Equally, many of the decisions made by businesses are of such strategic and financial importance that until organisations see the nature of any deal with Europe, few decisions will be made in terms of relocating their businesses. It will ultimately affect new investment where there is no cost for relocation.

In terms of your current employees, attraction and retention will always be important for any business to thrive. Keeping your staff within the organisation is less costly than hiring new employees. A way to retain your staff in these uncertain times is to make sure you are ready and prepared to navigate change. A productive and motivated team at the helm is a great way to start. 

Although the impacts of Brexit are still not fully understood, renewed optimism and the momentum from the higher levels, will keep your team moving forward. We predict that there may be an increased complexity within supply chain growth moving forward with Brexit. 

Candidates with skills in quality control and assurance, design innovation, purchasing and supply chain will be hot commodities. So, developing the talent you already have combined with a clear hiring focus on specialists within these areas, will stand you in good stead.

According to Engineering UK, there will be a large demand for labour within many engineering sectors. With 157,000 new jobs in big data and 7,200 engineering and technical workers needed for the HS2 by 2020. This gives more reason to either recruit or retain now. With the desire for professionals in this area increasing despite the uncertainty within the market, it is important for businesses to develop their top talent and hire accordingly. Engineering UK also states that ‘61% of businesses were not confident there will be enough people with the right skills to fill their vacancies.’ 

Looking ahead to 2020, there is still time to upskill your current staff to be able to fulfil highly-skilled roles. In addition to this, a clear development plan in the recruitment process offering top talent the ability to learn and grow, is a great way to ensure your business is attracting top talent and prepared for upcoming changes within the market.

If you would like to discuss how we can help with your recruitment processes, get in touch with your local Michael Page office today. Alternatively, submit a job spec and one of our expert consultants will be in touch.

T: 01932 264 133

E: colinroope@michaelpage.com