In the aftermath of the pandemic, employers faced a new set of hurdles, primarily recruitment challenges and a shortage of skilled workers. Recent studies reveal that a staggering 92% of UK employers struggled to fill job roles1. The result? Employers had to recruit under-skilled staff and then upskill their employees. But with time as a limited resource, companies had to turn to training providers to upskill their workforce where they may have once tried to do this themselves.As the trend of corporate investment in training gains momentum, at Pitman Training, our industry-leading courses have meant we've been able to forge valuable partnership with businesses at both national and local levels. And here's why...
The Rise of the Training Trend
The pandemic created substantial challenges for UK employers seeking skilled workers. Job sectors such as software engineering, HR and data analysis have experienced particular difficulty in finding suitable candidates. While the potential workforce is available, the challenge stems from a shortage of skills among potential employees. This is compounded by the range of opportunities in related fields, meaning employers need to do more to stand out from the crowd.
Employers have responded by offering attractive employee benefits and upskilling programmes to address these recruitment challenges. A 2022 survey revealed that 50% of UK employers now provide training to enhance their workforce's skills, with 43% open to negotiating training benefits to attract and retain top talent1.
Hiring on Personality
Amid recruitment challenges and skill shortages, employers across various industries have turned to personality tests as a means of evaluating candidates. These tests represent a good way of identifying key traits that are attractive within new employees: a willingness to improve, ability to work in a team and having the competence to act on their own initiatives. This allows an organisation to focus their recruitment processes on those candidates whose attitudes align with the company's ethos.
Ever heard the saying "Recruit on attitude, train on skills"? Once these recruits have been identified, it's essential to train them to the level required for the business. Down the line it's a helpful tool too, businesses can see what employees need to work on or how to build on their working relationships. As a result, businesses create a more adaptable, capable workforce.
Why Should Businesses Invest in Employee Training?
As businesses look for ways to solve their recruitment challenges, the popularity of funding employee training continues to grow. But why should businesses focus their attention to professional development for staff?
There are a multitude of benefits to employee training for both the organisation and employees. It equips your workforce with essential skills, enhancing their performance and enabling them to contribute to a company's success. Investing in training boosts job satisfaction and employee retention, showcasing a commitment to growth. Training also promotes adaptability and innovation. From this, there is improved customer satisfaction as skilled employees deliver an excellent service. Professional development allows companies to mould their next leaders, creating continuity and reducing the costs of external leadership. Ultimately, a well-trained workforce is a competitive advantage as it results in better products and services, as well as an increase in loyal staff.
The Results Are Significant for Employers
We've seen the benefits of investing in employee training, but do they produce tangible results and positive effects for businesses? In a competitive market like today's, the benefits of training have proven crucial for both attracting new talent and retaining existing staff.
High staff-turnover plagues several industries, with rates expected to reach 36% in the UK, in 20232. Recruiting replacements is a costly activity, in terms of time and money. Retention is key and employee training can be extremely beneficial for this. The data backs this up too. 76% of participants of a recent workplace survey believed that employee development would be a significant factor in them staying in that role3.
Improving your company's professional development opportunities will have a positive effect on the day-to-day results of your business too. Engaged and educated employees contribute to increases in all areas of a business including overall productivity, more sales and, of course, higher profits. Given these substantial benefits, the investment in employee training proves indispensable for the long-term growth and sustainability of any business.
It's no surprise then that the global corporate e-learning market is set for a growth rate of 15% by 2026, with the market size projected to grow to $370 billion over the same period4.
Pitman Training and Our Corporate Partnerships
Pitman Training has been quick to capitalise on the growing trend of corporate investment in training, with the standout example being our partnership with the Amazon Career Choice program. Pitman Training was selected as an education partner for Amazon's Career Choice program in 2012, providing Amazon employees access to flexible training courses, which they can start at any time, to ensure they fit training in around their lifestyle.
"We're immensely proud of our partnership with the Amazon Career Choice Program," said Paul Lawrence, Pitman's franchise partner for Bristol. "At Pitman Training Bristol, we've been part of a successful nationwide rollout of the Amazon Career Choice program, supporting 4,000 Amazon Associates so far. By using our market-leading combination of audio guides, workbooks and live software, we aim to provide Amazon’s employees the same opportunities to improve their career prospects, gain a promotion, or pursue a new career entirely.”
In fact, thanks to this rising trend of company-funded training of employees, Pitman Training has seen a year-on-year increase of 25% in corporate training income – for the first time catching up with that of our privately funded training income.
To explore the opportunities presented by franchising with Pitman Training, you can find more information here.
- Remote, Overcoming UK-wide recruitment survey, 2023
- Remote, Employee turnover study, 2023
- SHRM, Workplace learning and development trends, 2022
- Valuates Reports, Global E Learning Market 2022-2028, Jan 2022