FOCUS FEATURE


TRAINING, RECRUITMENT AND RETENTION


information and advice to employers and employees on workplace relations and employment law – has published details suggesting the average cost to employers of replacing a single member of staff can be more than £30,000, based on findings from an Oxford Economics report. The prominence and importance of HR within


organisations, and the role it plays in recruiting, developing and ultimately retaining staff, has been recognised by the Chamber, which holds dedicated HR forums across Derbyshire, Nottinghamshire and Leicestershire, with HR professionals coming together to share experiences, knowledge, ideas, and discuss mutual issues and problems to create a hub of best practice. The quest to unearth well-suited professionals that fit the


culture and values of a specific organisation has been evident, with companies using a variety of often innovative methods to find long-lasting employment solutions. Once such a relationship has been harnessed, a company


can invest time and, in many cases, money to ensure a new recruit becomes a long-serving one that adds significant value to the organisation, creating stability in the process. In an article originally published on LinkedIn, Alicia


Williams, Senior Administrator, Human Resources, at the Bermuda Monetary Authority states: “In an effort to keep their top talent, many organisations have opted to re-invest in their human capital, that is, the knowledge, level of skills, and abilities of the workforce. “Following the initial hiring of these employees,


companies are now seeking to equip their workforce with the materials needed to grow and develop as benefactor to the growth of the establishment. “Companies have come to the realisation that investing in


their human capital in the form of training and development yields high returns. It is the power of a knowledgeable workforce that can assure the survival of a company.” A great example of staff development and long-term


thinking can be found in this quote from Thomas John Watson Sr, former Head at IBM: “Recently, I was asked if I was going to fire an employee who made a mistake that cost the company $600,000. No, I replied, I just spent $600,000 training him. Why would I want somebody to hire his experience?” Adopting a retention strategy that encourages an ongoing and long-lasting relationship with new employees takes on added significance too, given that war between companies for top talent continues to intensify. While uncertainties remain, especially surrounding Brexit,


the jobs market is currently a strong one, with opportunities available to those both currently in and out of work. It’s a far cry from the difficult post-recession days of late


2011, when unemployment peaked at almost 2.7 million, its highest level for 17 years, and businesses could, in many circumstances, cherry pick the employees they wanted and on their terms. It could be argued that workers of all ages, abilities and


sectors can feel optimistic about their career development thanks to a growing economy, a nationwide drive to bridge the skills gap, the rise in apprenticeships, a vibrant jobs market and more protection for older workers (there is no longer a default retirement age and it is unlawful to discriminate directly or indirectly on grounds of age in the workplace).This goes to solidify the argument that picking that right employee is perhaps less about what’s on their CV and more about how they will match a company’s ethos and how the employer/employee relationship can build and flourish through time to ultimately deliver value on both sides. This sense of a partnership between


employer and employee is almost dating site- esque in its approach, with both parties looking for common ground and evidence that a match would indeed be a great fit. For example, PKF Cooper Parry, a


fast-growing East Midlands- based accountancy firm, opened its doors last month for a special


30 business network February 2017


Companies have realised that investing in training and development yields high returns


recruitment 'open house' event, where dynamic and driven individuals were invited to find out more about its culture and current vacancies. The event appealed to forward-thinking people at all


levels in their career, giving school leavers, students, graduates and established professionals the chance to get acquainted with working at PKF Cooper Parry. CEO Ade Cheatham (pictured) commented that the premise behind the event was that the organisation is “on the hunt for talented and enthusiastic people who put clients first and can help us deliver an outstanding level of service”. Here, the onus appears to be on the potential employee


buying in to the company’s values from the outset to help create that perfect match. Once a company has made a recruitment decision and a


new member of staff is in situ, staff development and, specifically, training, is clearly a huge driver in harnessing loyalty. The Association of Accounting Technicians (AAT) states in its Want your staff to stay? Make training a priority document that ‘Over half (51%) of employers believe a main benefit of improving staff qualifications and skills is increased staff commitment and retention’ and that ‘88% of workers said there was nothing wrong with staying in the same job for long periods, as long as there are opportunities to develop, up from 80% in 2007’. So what’s the big message from all this? It’s that innovative


and forward-thinking businesses are, where appropriate and necessary, looking beyond a potential new recruit’s CV and formal interview process in a quest for success. It also suggests that staff loyalty and length of service is no longer left to chance. Often, staff retention is a specific KPI for organisations and retention follows as a second phase of recruitment. Recruitment and retention is seen as a crucial part of an organisation’s strategy, an investment in people that ultimately translates


to success and stability for the business. It shows that a tailored career plan and/or


training schedule can help workers feel valued and in a career that is upwardly mobile and progressive. If an employee does indeed choose to leave, there is often an exit interview to


ascertain why this decision has been taken and to


work out whether a disparity between the values of the employee and the company existed. Find, train, retain - just three words - but they can and should be the bedrock of any professional organisation. As Jobs said, collaboration is key.


‘Once a company has made a recruitment decision and a new member of staff is in situ, staff development and, specifically, training, is clearly a huge driver in harnessing loyalty’


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