The Nurturing Talent report is based on research conducted amongst more than a thousand businesses.
Nurturing Talent report findings:
- Continuous staff development is an important part of driving growth - especially when times are tough
- A vast majority of employers (78%) believe that internal development of employees has greater benefit to the organisation than external recruitment
- Almost half of respondents (44%) agreed that they had saved money by growing their own talent
- More than half (52%) felt using internal development helped them to retain talent. Internal recruitment was most commonly used by employers to improve retention and motivation of staff (35% and 33% respectively)
- External recruitment has an important part to play, not least when business success requires firms to hire in order to increase capacity
Business that have benefited from nurturing talent
Mines Rescue, a Health and Safety consultancy:
- expanded its customer base from five to more than 1,400
- boosted turnover to over £8 million a year.
UK book publisher Bertram Group:
- focuses on employee development to help retain and motivate existing staff.
- the organisation is seen as attractive to potential employees – helping it compete for talent within the labour market.
In North America, Southwest Airlines:
- trained its way out of a recession
- reduced recruitment but at the same time actually increased its training budget to maintain morale
- survived the 2001 recession and even turned a profit.
Read our case studies and find out more about these examples and other organisations which have benefited from nurturing their existing workforce.
