There is a current talent shortage within the UK due to a rise in economic inactivity. Post-pandemic, many people are not in work and not looking for work and this means recruiting talented people to fill the right roles can take longer than usual.
During a period of economic instability, businesses would do well to consider their existing employees for hybrid roles, while obtaining additional support from an external consultancy such as 1850.
What is a hybrid role?
A hybrid role incorporates multiple positions and responsibilities into one job. The immediate benefits of a hybrid role are increased productivity of your workforce and higher employee morale. An example of a hybrid role is a Marketing Executive being upskilled to a Marketing Manager. You can outsource various marketing elements to an external consultancy, whilst also teaching your employee to learn new skills and carry out their existing job more efficiently.
Increase employee engagement
Businesses should regularly look at their staff to identify people that might have the potential and attitude to fill a new role. Some employees may already be learning additional job functions based on their personal interests, or they may actively be seeking a new challenge. Offering someone the chance to take on a hybrid role will help increase employee engagement and improve your overall business culture.
Hiring externally may have risks
There’s no guarantee that hiring someone externally will provide the perfect solution. The recruitment process can be costly and time consuming. Once you’ve hired a person for the role, it will take time for them to familiarise themselves with the new job, business values and culture. Even then, you have no guarantee they will be the perfect fit for the role. Upskilling will increase your chances of finding the right ‘fit’ for your business, while employing the help of an external consultancy can really help with the training process.
Consider your time and budget
New research by Monster conducted in November 2022 found that upskilling existing employees could save businesses up to £36,084 per employee when compared to replacing them with new people. The study revealed that 58% of organisations surveyed struggle to find candidates with the right skills. Figures on the cost of replacing employees and training existing employees suggested that upskilling is the most cost-effective way to solve this problem.
Build a continuous culture of development
There’s a benefit to training and cultivating employees that new recruitment simply can’t provide. There will always be new candidates to join the business and become great leaders, but if your company values include retention of staff and leadership building, upskilling your workforce may be the more sensible choice. The time you spend training your staff will prepare them for the next steps in their career and will help show them a clearer pathway to achieving future goals.
If you would like help upskilling your employees, hiring internally, or any aspect of your recruitment, 1850 can help. Contact us for a free consultation today.
