FINANCE
By Dan Morgan, Managing Partner, Haines Watts Esher
TIME TO RETHINK TALENT PRACTICES Attracting talent will always be a key challenge for business owners. The pandemic has created a shift in how we work and required us to make some tough decisions about our people. As we’ve progressed through the crisis, it has also shone a spotlight on the skills and roles that deliver the biggest impact or value within a business. We’re constantly re-evaluating how we acquire, manage and deploy talent as are many of the business owners I speak to. Below are the key areas to focus on when developing your talent planning.
TALENT SHOULD BE A STRATEGIC PRIORITY
When we look at high performing businesses, their ability to attract and get the most out of their talent delivers a real competitive advantage. As our business evolves, we’ve recognised that the way we look at talent must be a board level strategic priority. Understanding the capabilities we need in order to achieve our strategic objectives means we can be more creative and flexible with the people we employ.
ALIGN HIRING WITH VALUES
We want our people to be part of building the long-term value of our business. We expect them to be ambassadors for our
brand and nurture our relationships with customers. It’s therefore imperative that we understand what a good employee looks like so we can better assess applicants not just for technical skills but ideal traits and fit.
INCLUSIVITY AND DIVERSITY
Technical skills can be taught, but attitude, creativity and different perspectives are the qualities that enable us to reinvent. It is also important to recognise that sometimes it takes deliberate effort to ensure that you create an environment that is inclusive for all – particularly where you have a workforce that attracts applicants from a history that may previously have been stigmatised. In a commercial environment that requires adaptability, flexibility and problem-solving capabilities, drawing on talent from diverse demographics enriches our business. It also allows us
to open up our talent pool, making sure we find someone with the right skillset from a wider group of people. This allows us to service our clients far more effectively with teams able to present a more varied set of solutions to specific problems. The combination of different experiences, working styles, and backgrounds allows for new ideas and collaboration.
RESKILLING
As well as looking at how to bring in new talent, many businesses will be looking at developing the talent they already have. A study by LinkedIn found that a third of employers are focussing on giving employees the opportunity to move into different roles internally in the next six months. 32% said that reskilling and upskilling employees is a top priority for 2021. With business needs changing rapidly at present, having a creative approach to how you utilise your existing talent is what will give you a competitive edge. Prioritising training and development will allow you to plug gaps in skills while keeping your workforce engaged. People who can see their opportunities for growth within a company are far less likely to leave and being able to achieve a low staff turnover is greatly beneficial in continuity of service for your customers. Whether you are planning on bringing in new talent or developing the teams you already have in place, your people will be your greatest asset in the future of your business. Ensure you remain adaptable and creative in your approach to recruitment.
For more information: www.hwca.com/accountants-esher/ T: 020 8549 5137 E: esher@hwca.com
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