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Businesses are changing the ways they recruit and nurture talent

Challenge 5

Nurturing Talent

Talented staff are key to business success today. It’s this talent that comes up with the groundbreaking ideas and creates the supportive culture that gives one business the edge over another. But employees’ expectations of their employers are changing.

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Businesses – in particular the ‘future ready’ – are rethinking how they combat skills shortages and expand their talent pool.

60% of FRBs intend to invest in re-training or re-skilling personnel, and are generally expected to embrace a number of measures even more broadly than businesses overall. In particular, FRBs are increasing consideration of neurodiverse candidates – recognising that many are gifted in various skills suited for the digital age.

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Re-training and re-skilling is also the number one measure Education firms are intending to pursue to combat a shortfall of talent.

They are also more likely than others to ‘outsource more functions/roles to third parties/consultants’ (41% of Education vs. 36% of businesses overall).

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Large businesses are more likely than other sized firms to increase international recruitment efforts.

46% are increasingly looking to recruit across a wider range of age groups – both young and old – vs. 42% of medium-sized and 38% of small firms. Large businesses are also the most likely overall to increase recruitment efforts in all other areas.

Base: Q66. 1,813 (All respondents)

Businesses – in particular the ‘future ready’ – are rethinking how they combat skills shortages and expand their talent pool.

60% of FRBs intend to invest in re-training or re-skilling personnel, and are generally expected to embrace a number of measures even more broadly than businesses overall. In particular, FRBs are increasing consideration of neurodiverse candidates – recognising that many are gifted in various skills suited for the digital age.

Re-training and re-skilling is also the number one measure Education firms are intending to pursue to combat a shortfall of talent.

They are also more likely than others to ‘outsource more functions/roles to third parties/consultants’ (41% of Education vs. 36% of businesses overall).

Large businesses are more likely than other sized firms to increase international recruitment efforts.

46% are increasingly looking to recruit across a wider range of age groups – both young and old – vs. 42% of medium-sized and 38% of small firms. Large businesses are also the most likely overall to increase recruitment efforts in all other areas.

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Attracting youth

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Appealing to younger workers is one way which businesses are broadening their search for talent.

61% are planning to invest in more “connected” working environments to attract prospective employees aged 24 or under. Offering greater flexible working hours flexibility is also seen as a key way to allure juniors.

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Future ready’ businesses expect to work even harder to entice young talent.

Appealing more to workers' core values and beliefs is a goal that 59% of FRBs are pursuing to attract younger employees vs. 50% of businesses overall.

Base: Q68c. 490 (All respondents who indicated that the need to appeal to Gen Z employees will introduce new challenges)

Appealing to younger workers is one way which businesses are broadening their search for talent.

61% are planning to invest in more “connected” working environments to attract prospective employees aged 24 or under. Offering greater flexible working hours flexibility is also seen as a key way to allure juniors.

Future ready’ businesses expect to work even harder to entice young talent.

Appealing more to workers' core values and beliefs is a goal that 59% of FRBs are pursuing to attract younger employees vs. 50% of businesses overall.

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Supporting experience

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Re-training and re-skilling is seen as the key way to utilise aging workforces.

This is the number one step businesses plan to take to better harness their older employees, followed by ‘increased support of remote working’.

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Large businesses are more likely to ‘provide re-training and re-skilling opportunities’ to better harness their older employees than smaller firms.

71% of large businesses said they plan to do this vs. 62% of medium-sized and 69% of small businesses.

Base: Q68b. 480 (All respondents who indicated that the need to effectively harness the ageing workforce will introduce new challenges at Q68)

Re-training and re-skilling is seen as the key way to utilise aging workforces.

This is the number one step businesses plan to take to better harness their older employees, followed by ‘increased support of remote working’.

Large businesses are more likely to ‘provide re-training and re-skilling opportunities’ to better harness their older employees than smaller firms.

71% of large businesses said they plan to do this vs. 62% of medium-sized and 69% of small businesses.

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Measures to recruit and retain

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Future ready’ businesses anticipate a number of factors affecting recruitment and retention to grow in importance.

‘Providing training and supporting learning opportunities’ is seen as the most pressing overall. FRBs meanwhile are especially likely to feel that ‘promoting employee wellness’ and ‘providing short-term ad-hoc employment’ will become more pivotal in the future.

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In Portugal , ‘promoting employee wellness and mental health’ is seen as the number one factor climbing as a consequence.

94% of businesses here – more than any other country – believe this issue will rise in importance for staff recruitment and retention. They are also the most likely of all to feel that ‘providing opportunities for advancement and development’ is going to become more crucial in the future.

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Meanwhile, 82% of Retail companies feel that providing ‘training and learning opportunities’ is expected to grow in importance.

77% of retail companies also feel that ‘supporting flexible working hours’ is going to become more important for the recruitment and retention of staff in the future – although this is fewer than any sector with the exception of Education.

Base: Q70. 1,813 (All respondents)

Future ready’ businesses anticipate a number of factors affecting recruitment and retention to grow in importance.

‘Providing training and supporting learning opportunities’ is seen as the most pressing overall. FRBs meanwhile are especially likely to feel that ‘promoting employee wellness’ and ‘providing short-term ad-hoc employment’ will become more pivotal in the future.

In Portugal , ‘promoting employee wellness and mental health’ is seen as the number one factor climbing as a consequence.

94% of businesses here – more than any other country – believe this issue will rise in importance for staff recruitment and retention. They are also the most likely of all to feel that ‘providing opportunities for advancement and development’ is going to become more crucial in the future.

Meanwhile, 82% of Retail companies feel that providing ‘training and learning opportunities’ is expected to grow in importance.

77% of retail companies also feel that ‘supporting flexible working hours’ is going to become more important for the recruitment and retention of staff in the future – although this is fewer than any sector with the exception of Education.

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