The results of last week’s EU Referendum will undoubtedly change many things, but the importance of people to your business won’t be one of them. In fact, the only kind of change your business should be striving for is behavioural change…
Here are five reasons why people will still be top of the agenda in a post-Brexit Britain.
1) Your business wouldn’t exist without your people
People always have and always will be the backbone of any successful business. Why? Because talented, engaged and loyal employees have the power to take a business forward, whilst a disengaged, high-turnover workforce can be both unproductive and costly.
2) Adaptability is more important than ever
Always a top-ten skill that employers desire, the ability to adapt to changing circumstances requires flexibility and resilience from employees. By offering continuing soft skills development, companies can help their people to successfully adapt to whatever changes the future might bring to the organisation.
3) In a time of change, internal stability and development are crucial
In other words, businesses should keep a foot in the revolving door of staff turnover. It costs over £30,000 to rehire and train just one lost member of staff – not to mention the disruption to your business, which is always unwelcome, let alone during large-scale change. Maintaining a stable internal culture, where employees feel their career progression is supported, is the best way to prevent attrition and strengthen your company.
4) Developing your people is always a sound investment…
…just make sure you’re directing it effectively. In uncertain economic times, measuring the return on investment gained from training and development initiatives is particularly important. If in doubt, opt for tried-and-tested programmes, such as our OPEN Programme for Graduates, which boasts a 74% retention rate. In other words, we have helped our clients retain 74% of the graduates they have put through the programme since 2009!
5) Succession planning – look to the future
The future doesn’t have to be scary and uncertain (whatever the news might currently suggest!) In fact, focusing on the future today will help you build a strong internal talent pipeline and start developing the future leaders of your business. An effective pipeline can improve employee retention and engagement, as well as supporting a business’ strategic goals. Unsure where to start? Check out our talent pipeline health check and tips for some expert advice…
Written by Florence Sturt-Hammond