Since the referendum in 2016, there is unlikely to be a single industry in the UK who haven’t seen some residual or ongoing effect on their talent management, whether it is positive or negative. Now companies are having to place an increased emphasis on developing their existing workforce and offering further opportunities for employees to build careers and progress within. Employers and particularly talent management professionals should utilise this opportunity to take stock of employee opinions and communicate impending changes whilst building clear lines to receive feedback. Talent management should identify and prepare potential changes and trends which look to affect their strategies during and following Brexit. The CIPDs release of the resourcing and talent planning 2017 survey highlighted a significant number of changes in the way businesses are anticipated to adapt their talent management strategies, in the time leading up to Brexit and the subsequent following effects.
Shifting focus to developing existing staff with personalised learning
Although it has always been crucial to nurture and grow the skill set of your existing staff, over the next couple of years, talent management should be particularly wary of retaining staff through these means. This can include training courses and funding development schemes, but now more than ever, we are seeing businesses offering personalised training, over the traditional ‘one-size-fits-all’ approach.
Developing effective communication channels
Employees can often feel left out of the significant changes and communications, which may only be passed on to senior management, so post-Brexit, it is likely that businesses will introduce more effective ways of distributing information company-wide. When we consider optimal ways to do this, we must also establish the demographics of the employees and the subsequent most effective method of delivery. For example, millennial employees are more likely to appreciate an email or social media news blasts, whereas older generations may still prefer physical meetings.
Listening to employees
Companies have already begun to implement more effective ways to gain feedback from their employees, however, it is anticipated, in order to maintain and improve employee retention, they will further implement methods to collect this data. Small businesses often harbour more effective lines of communication due to the size and the ability to secure time with senior management more easily. However, in larger scale companies, talent management systems need to implement open door policy with senior staff members for staff of all levels and even methods of providing anonymous feedback for those who are uncomfortable with relaying, what may be unpopular opinions. Post-Brexit, these employees opinions may be considered highly valuable when it comes to determining more effective ways to maintain and attract talent.
Competition heating up
In previous years, we’ve seen an abundance of talented individuals fighting over a handful of coveted positions. However, results from the CIPD survey suggest that, during the Brexit process and after, many anticipate this to flip to the opposite, with companies scrambling to secure well-qualified talent. Job-seekers may find it easier to secure the position they apply for, with a decrease in diverse talent now situated in the UK, with the departure of a significant number of highly skilled overseas workers. Companies will now need to revisit how they position themselves as employers within their industry. Employees are unlikely to now head for the biggest and most recognisable name, or even the top salary, with a multitude of small and medium-sized businesses now opting to offer significant lifestyle benefits, which can sway decisions on where individuals would prefer to work long term.
Boosted efforts in recruiting senior and technical staff
One of the highest concerns for the post-Brexit environment is the ability to recruit senior level and technically skilled staff. Talent management plans will need to identify how to establish the most effective means of attracting these staff members, developing in-depth profiles of the type of people they are actively seeking. Those working within the search and selection process will then need to anticipate the requirements of the company across the next 1 to 3 years, in order to begin building relationships with potential candidates, up to 18 months ahead of securing their position within their business.