How to retain your staff when they are seeking a new start.
As each new year starts many people will be seeking new beginnings which may involve searching for a new job. January will see approximately 2 in 5 people look for a new job and the end of the first week in January is once again expected to be the job-hunting peak of the year. So why do so many people enter this search each year and what can your organisation do to retain their staff?
Office closures over the Christmas period and individuals taking holiday to spend time with family and friends can contribute to the spike in job seekers in the New Year. Any long break from work significantly increases the likelihood of people considering a job change as they take time to reassess their day to day lives and focus on the future.
In order to retain staff, its essential that organisations provide opportunities for new beginnings and fresh starts from within. According to LinkedIn’s 2018 Workforce Learning Report, 93% of employees would stay at a company longer if it invested in their careers and development. Over recent years the change in employee expectations has seen personal and professional development become a priority signalling that the employer values its people and is interested in their success.
There are many methods of training and developing an existing workforce and in 2017 the UK government introduced a new way of utilising apprenticeships to upskill existing staff along with funding support for businesses to do this!
You can now use the apprenticeship model to train existing members of staff, or even top-up an employee’s qualifications with the choice of over 300 higher and degree apprenticeships. Apprenticeships are available to anyone from the age of 16. That means regardless of whether your member of staff is 16 or 60, you can develop their skills through an apprenticeship.
According to a report conducted by the Education and Skills Funding Agency (ESFA), 80% of companies who invest in apprentices report an increase in staff retention. Using an apprenticeship to develop your existing workforce not only increases staff retention by allowing staff to grow and develop their role but also has the potential to increase productivity and revenue whilst revitalising your business and fixing current or future skills gaps.
If you would like to explore ways in which apprenticeships can be used to nurture and develop the talent within your business please contact the Skills team at Business West where you'll receive expert, independent advice tailored to your business needs.
You can also find out more during National Apprenticeship Week 2020, which will take place from 3 to 9 February 2020. For the first time, the week has been extended to include the weekend, giving the entire apprenticeship community more opportunity to get involved with activities. Find out more here.