A recent PWC article stated that there are four concerns that keep CEOs awake at night. They cited the concerns as, how to deal with globalisation and uncertainty; a lack of trust in their business or brand, the need to rethink the leadership model, and, tackling the talent challenge.
It is this final point I would like to draw your attention to as we all know that the competition for talent is getting fiercer and that skill shortages are a real hindrance to business growth.
You have a choice to either hire in new talent or look to develop your existing workforce. Of course, you may need to hire a specialist with skills and qualifications that you don’t have inhouse but very often our own staff have skills and expertise that is overlooked or, more importantly they have the potential to develop if given the appropriate training and development.
That training and development can be supported and enhanced by taking advantage of the Apprenticeship Levy. However, of the estimated 22,000 businesses that pay the levy, only half (50%) have actually set up the framework (nominal digital account). It could be that the information about the Levy is sitting in the intray of the FD or HRD but the clock is ticking.
Has your organisation set up it’s digital account? If not, perhaps take a look at our blog post on “What is the Apprenticeship Levy?”
Few employers understand the huge range of training this could offer nor the financial benefits of taking advantage of the Levy.It is clear that there have been issues getting the message out there to employers about the new apprenticeships and the opportunities to develop the whole of the workforce. Hopefully this letter will help you in making the right decisions around your workforce development.
Wishing you a successful remainder of 2018.
The Leadership Team