LinkedIn has surveyed more than 250 UK business leaders, finding that 31 per cent stated that their focus in the next six months would be on giving their employees the chance to move into different roles internally.
Reskilling and upskilling employees was cited by 32 per cent as a top priority for 2021.
The research found that employers are prioritising talent within their existing workforce rather than hiring out of the company - because of the uncertainty caused by the coronavirus crisis.
Janine Chamberlin - Senior Director at LinkedIn - said the continued uncertainty around Covid-19 has meant many companies are looking to ‘tap existing employees for new opportunities within their organisations’ instead of hiring external candidates.
She added:
“Encouraging internal mobility not only boosts retention and improves employee engagement, but it can also help companies evolve their businesses from within and bridge any existing skills gaps. To ensure employees are set up for success and have the skills to support career transitions, reskilling and upskilling initiatives are vital and HR professionals will play a pivotal role in facilitating this.”
In addition, the research found that 34 per cent of leaders wanted to create a culture of learning to help employees develop the skills they needed for the future.
Another 31 per cent said they were focused on closing the skills gaps within their organisations.
Lizzie Crowley - Senior Skills Policy Adviser at the CIPD - warned against businesses being tempted to cut learning and development budgets following the pandemic. She stated that on previous recessions, learning and development budgets were ‘vulnerable’ as businesses attempted to cut costs - but she said doing so now could risk potential growth in the future, adding:
“It’s like shooting yourself in the foot a bit if you don’t invest in your staff during challenging times. Thinking creatively about how you redeploy existing talent within your workforce is what will give you that kind of competitive edge in what is a challenging market.”
Noelle Murphy - Senior HR Practice Editor at XpertHR - stated:
“Hiring internally ensures that one of the key elements of retention is in place – a good fit with the organisation’s values and culture. Investing in learning and development can be a far more effective use of funds than spending money on external recruitment and selection processes, and HR can make a powerful business case for investing in identifying talent internally, not only for roles available today but also future requirements of the organisation.”
She added that developing internal talent also built positive relationships with employees, demonstrating confidence in the skills and competence of the workforce.
As a result of the pandemic accelerating changes to the world of work, a report from the Confederation of British Industry found nine in 10 UK employees would have to reskill by 2030.
It is anticipated that in the next decade, 26 million workers would require upskilling in order to keep up to date with technological and business developments. Another 5 million workers would go through a fundamental job change and require retraining.
Suzanne Hurndall - Relationship Director at HR Inspire Ltd - stated:
“Creating dedicated initiatives for key groups within the company to achieve this goal is vital – it shouldn’t be a ‘one size fits all’ approach and implementing real L&D can be truly transformational.”
She added:
“This future of work is essential to foster a trust culture as we navigate our current landscape and create teams comfortable with grappling together with the unknown.”
