Why is hiring young talent so important?
After a Covid-induced slump, UK hiring is on the up – hitting its fastest rates in 23 years. Combine this with the acceleration of baby boomers retiring and it gives your business a prime opportunity to bring in employees with fresh energy and a new set of skills.
It could solve a challenge that businesses across multiple sectors are facing – currently, more than 70 percent of large firms and nearly 50 percent of smaller companies are suffering from skills shortages.
Bringing in enthusiastic young talent could revolutionise your entire business both in the short and long term.
For example, new recruits will bring with them desirable skills in modern technology usage and could help to embed emerging technologies into your business.
Adopting augmented reality, AI and the Internet of Things could all become achievable outcomes.
This will continue to aid and benefit your business for years to come. By adopting new technologies, you create an environment that is attractive to future employees, who will then – in turn – provide new ideas of their own.
It’s a cycle that could yield improved results, exciting new developments and an energetic, positive work environment.
So, if hiring young talent can make such a big difference, how does your business attract them?
Prioritise your employees’ health
The mental and physical wellbeing of your employees should be a cornerstone of your talent management. It is often a deciding factor in whether an employee stays or goes.
Recent studies have shown that three in ten UK workers consider quitting their job because of poor mental health.
Meanwhile, 2021 saw “the great resignation”, in which four million people quit their jobs to seek better working conditions.
Even if you do not lose your employees altogether, you could still face losing them temporarily – stress and anxiety were the majority factors in work days lost in 2019/20.
It is important to survey your current employees and get a feel for their priorities. Ensure that they are not overworked and that they have a good work/life balance.
This is especially true if you have employees working remotely, whether it be full-time or in a hybrid working capacity. While many felt liberated working from home, 29 percent admit that they struggle to switch off from their work.
It is also vital to make sure that your employees feel valued by offering supportive opportunities such as reward programmes, new courses, safe spaces for communication on mental health and more.
80 percent of business leaders report that wellbeing is important to their organisation’s success – if you have not done so already, it is time to make employee health a priority.
Embrace new technology and ways of working
The Covid-19 pandemic has caused dramatic, long-term shifts in the way that people work. It is no surprise, then, that traditional methods of talent management are falling out of favour.
According to a recent HR systems survey, 28 percent of organisations plan on increasing their non-traditional HR spending – with the figure set to grow with each passing month.
Furthermore, over 30 percent of companies are rethinking learning, time and recruiting tools. The latter is especially important – 54 percent of Gen Z’ers won’t even complete an application form if it uses outdated recruiting methods.
To be competitive, your methods need to reflect the needs and beliefs of the young talent you aim to recruit.
As previously mentioned, AI is a key HR trend, with 54 percent of executives stating that implementing AI has increased productivity.
AI has been used to support human workers, becoming one of the most relevant tools in the talent management industry.
Young talent also thrives on receiving feedback, so look to install systems that allow regular performance mechanisms, surveys, progress reports and more.
Alongside technology, it is also time to embrace new methods of working. One example is the gig economy, people working in part-time or temporary positions or as independent contractors.
The number of adults in the UK working for gig economies – such as Uber and Deliveroo – has now reached 4.4 million, two-and-a-half times bigger than 2016.
With so many workers now favouring this method, this could be a line of work that you look to tap into, depending on what projects or tasks your business is focusing on.
Award-winning talent management support
If you are looking to gain new skills, knowledge and hire young talent, our Higher Level Skills Match (HLSM) account managed recruitment and upskilling service can help your team expand.
HLSM, which is part-funded by the European Social Fund, is an award-winning collaboration between BCU, Aston University, Newman University, and local councils Tamworth Borough Council and Lichfield District Council.
The service works in partnerships with small and medium-sized businesses to identify their skills gaps and help source new recruits and support in talent management.
HLSM has engaged with over 801 students and graduates on numerous initiatives, placing 50 of them into placements or graduate-level roles.
When joining HLSM, you are matched with a dedicated account manager who will identify and match the talent requirements of your business to the training opportunities and highly skilled graduates of BCU and partner universities.
HLSM has been championed for its support for young talent and businesses, winning the AGCAS Building Effective Partnerships Award in 2020.
This year, it has been shortlisted for accolades at the National Undergraduate Employability Awards and the Greater Birmingham Chamber of Commerce Awards, respectively.
It has also been well received by clients, with 95 percent of businesses signed off from the project reporting the project has had a positive impact.