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As the unemployment rate has continued to reach historic lows, a new report from Adecco USA, part of the world’s leading workforce solutions company, found that 37% of employers have loosened job requirements in order to recruit talent, and 72% of these companies have done so within the last year.
The survey, which polled decision makers in the US who are responsible for hiring temporary workers, found that 15% of employers plan to loosen requirements and another 17% are considering doing so.
Ways in which these companies are loosening requirements include lowering the required years of experience (62%), reducing education requirements (50%), speeding up the hiring process (52%), stopping drug testing candidates (21%), and stopping background checks (16%).
“To compete in today’s tight labor market, employers across industries are becoming more flexible with their job requirements,” said Amy Glaser, senior vice president, Adecco USA. “In many cases employers are bringing in talent that may not have all the skills needed and then upskilling or training candidates to complete job-specific tasks.”
The survey revealed that 78% of these companies have started to consider applicants with transferable skill sets. The study also found that one in three decision makers (35%) would be likely to hire a temporary worker with a criminal conviction in their past if their skill set applied to the job.
Of those who participated in the survey, 70% are offering flexible schedules for employees. The majority (62%) are offering more shift options to attract and retain workers. Other popular approaches include giving employees the option to select their own shift schedule (39%), increasing the amount of personal days given to employees (38%) and offering the option to work remotely (33%).
Loosening Requirements in Order to Find More Candidates
According to the survey, all decision makers stated it was hardest to find workers with the desired experience (59%) and the right hard skills, such as specific tech certifications (57%) or the desired level of education (30%).
Nearly half (49%) of companies who have loosened, or plan to loosen, their requirements did so because they were unable to find enough qualified candidates. Of those that are planning to loosen requirements, 47% hope to see a larger pool of qualified candidates for each position.
“With the shallow candidate pool, many employers face challenges identifying candidates that meet all the qualifications traditionally required. By loosening requirements, employers may open up an entirely new group of candidates, which can enable them to better fill in-demand positions,” said Glaser. “In fact, the survey found that by loosening requirements, many respondents (47%) saw an increase in applications, and 42% said their pool of qualified candidates for each position had become larger.”
Loosening Requirements in Order to Speed up Hiring
One third (33%) of respondents reported they decided to loosen requirements because they noticed they were losing job candidates to competitors, and nearly half said they weren’t able to fill open positions quickly enough. More than a third of employers have experienced candidates taking job offers from one of their competitors, forcing companies to think outside of the box when offering positions to candidates.
“The shelf life of a candidate can shrink from days to 24 hours,” said Glaser. “If a company requires background checks, drug screening and three interviews, the candidate is going to walk down the street and get a job somewhere else. It is imperative companies get candidates in the door—and through interview processes—quickly.”
Common issues respondents of the survey noted during the hiring process include candidates leaving the hiring process in favor of “gig” or freelance work (32%), candidates who stop returning calls/emails during the hiring process (44%), and candidates who realize the role is not a great fit during the interview process (41%).
Since loosening requirements, half of the companies interviewed said hiring candidates had become a faster process, and most said it had become moderately to much faster (90%), with 35% conducting fewer steps in the hiring process.
A survey of 1,253 owners of failed startups in the UK, carried out by leading digital marketing agency, Marketingsignals.com, revealed the top ten reasons why e-commerce start-up businesses are failing.
According to many sources (including Forbes and Huff Post), 90% of e-commerce startup businesses end in failure within the first 120 days. Just why they are failing so quickly has been revealed in new research from Marketingsignals.com, which has found that the two main reasons for failure are poor online marketing performance coupled with an overall lack of search engine visibility.
Of those companies who were surveyed, a staggering 37% said that their failure could be attributed to an inability to compete with, or deliver, online marketing, with 35% saying a lack of online visibility was the main factor.
Further research found that the same proportion of respondents (35%) felt failure was down to them being too small to compete or there being no market for their products/ services, whilst 32% reported that it was due to them running out of cash.
Completing the top five reasons for failure was price and costing issues, with 29% of failed startup owners claiming this was the reason why they folded.
When further quizzed on the reasons why their online startup business failed, 23% said that it was due to being outcompeted, whilst 19% blamed retail giants such as Amazon for dominating a large share of the consumer online retail market.
Sixteen per cent felt that their business collapsed due to their lack of customer service, whilst 14% felt it was due to the poor team they’d built around themselves.
Completing the top ten reasons why e-commerce startups fail was product mistiming, with 11% of startup owners claiming that the reason why their business failed was due to ‘right product, wrong time’.
Gareth Hoyle, managing director at Marketingsignals.com comments: “It’s clear to see that having an online presence and being visible on search engines is a key area e-commerce startups need to focus on to ensure they succeed.
“As nine in ten online startups fail within their first 120 days of businesses, it’s incredibly important that business owners put provisions firmly in place well before launching – this must include a bulletproof search visibility and online marketing strategy, as well as ensuring there is a market for their product offering.
“A targeted, strategic approach to digital marketing is vital to the success of any online business in this day and age, only more so for small businesses who are just starting out. Many tools can be used to increase their brand awareness and search visibility in their first few days and weeks, where consumer trust and loyalty hasn’t yet been established.”
Marketing Signals offer a wide range of digital marketing services including paid search, paid social, digital PR and technical SEO. For more information on Marketing Signals please visit www.Marketingsignals.com
The top ten reasons why e-commerce startups end in failure:
Poor online marketing – 37%
Lack of online search visibility – 35%
Little to no market for their products or services – 35%
Running out of cash – 32%
Price and costing issues – 29%
Got outcompeted – 23%
Retail giants dominating a large share of the market – 19%
Canada’s complex and changing labour market requires mid-career workers to adapt, retrain, and/or upskill to be successful today and in the future economy. Future Skills Centre – Centre des Compétences futures has announced a $7.65 million investment for 10 new innovation projects that will help identify the best training opportunities for mid-career workers. From skills assessment platforms and apprenticeships to upskilling via a virtual reality simulator, thousands of Canadians across the country will participate in testing these novel approaches to skills development.
Many of these projects will engage mid-career workers in specific sectors that are experiencing, or are at-risk of, disruption and displacement, and help to identify ways to transition them into high-growth job opportunities. Others will explore common denominator barriers to successful career transitions and improving current services.
These projects will identify needs and test effective approaches to upskilling/skills training across the country. Here are some examples:
In Calgary, exploring training types to help prepare and connect highly skilled oil and gas workers with high-demand jobs in the growing tech sector
In Nova Scotia, assessing the effectiveness of a virtual reality upskilling program for professional truck drivers
In Oshawa and Kitchener-Waterloo, identifying the specific skills needed by at-risk auto workers to transition to high-demand jobs in the mold-making and injection-molding trades
Testing training models that would upskill cashiers and meat processing workers across Canada for higher skilled jobs in the food and retail sectors
In Manitoba, assessing enhanced training programs for adult learners who experience “Learner Shock,” including feelings of frustration, confusion, and anxiety about mid-career transitions
Exploring upskilling opportunities that best support mid-career workers with disabilities across Canada who are particularly vulnerable to displacement in today’s changing labour market
As the lead on the Future Skills Centre’s evidence generation strategy, Blueprint is working closely with project partners to design rigorous evaluations that generate actionable information on what works, for whom and why. The evaluation results for the 10 projects will help build a stronger evidence base in supporting mid-career workers and ensure partners have the information they need to improve, adjust, and make decisions on how best to achieve desired outcomes.
Future Skills Centre’s Support for Mid-Career Workers Call was launched on April 2, and closed on May 2, 2019. Mid-career workers, defined as individuals who have been working for several years, have been recognized as a group facing challenges in the changing labour market and in need of upskilling and training opportunities. Over 100 submissions were received in response to the call from across the country.
The 10 projects will build on the Future Skills Centre’s six inaugural innovation projects and reinforce the Centre’s commitment to testing and evaluating strategies to help build a skilled and resilient workforce. The next call for proposals will open later this summer.
The Business Travel Association (BTA, formerly GTMC) has announced the winner of the 2019 award for innovation at its Overseas Conference in The Netherlands. This year’s winner of the BTA Entrepreneurs in Business Travel Award is YourParkingSpace, an online parking marketplace.
Voted for by delegates at the conference, YourParkingSpace is the first to be crowned under BTA’s fresh rebranding. The winning start-up will benefit from access to BTA’s Partnership programme for 12 months, offering the team exposure to, and support from, the BTA’s broad range of TMC Members and Industry Partners. The innovative start-up secured the win after successfully pitching their product that offers over 350,000 parking spaces to rent throughout the UK. A user-friendly API allows seamless integration into TMC booking platforms.
The BTA’s Entrepreneurs in Business Travel Award saw five inspiring start-up companies battle it out on stage at the conference which took place from 30 June-2 July 2019 in the Netherlands.
This year’s conference was held at the historic Grand Hotel Huis ter Duin in Noordwijk, along the Dutch coast. The event gathered speakers from across the industry and beyond, shared insights and discussed “What’s Next” for business travel, sustainability, distribution and the wider UK economy.
Adrian Parkes, CEO, BTA comments:
“Congratulations to YourParkingSpace for grabbing this year’s Entrepreneurs in Business Travel Award at the 2019 BTA Overseas Conference. We first developed the awards last year to recognise the incredible pool of innovation and entrepreneurship in the business travel sector, and this year’s winner certainly represents the full entrepreneurial spirit of the award. It is really important that the BTA supports and nurtures start up talent in our industry and gives exposure and opportunity to new technologies, products and services that will benefit the business traveller, our industry partners and BTA member TMCs.”
Harrison Woods, co-founder and CEO, YourParkingSpace adds:
“It’s an incredible honour to receive this award and we are looking forward to embracing the opportunity that comes with the partnership we have won. We’re confident that YourParkingSpace can deliver a parking management solution to TMCs and the BTA community, to better provide its clients and business travellers with a seamless experience.”
The U.S. Conference of Mayors and Wells Fargo have announced that Mayors Tim Keller of Albuquerque, N.M.; Keisha Bottoms of Atlanta; Toni Harp of New Haven, Conn.; and John Noak of Romeoville, Ill., are the top honorees with the 2019 CommunityWINS® Grant Program. Launched in 2015, the program recognizes nonprofits and cities that drive neighborhood stabilization, economic development and job creation.
An independent panel of judges selected recipients of the Wells Fargo Foundation-funded grants from 136 applicants representing small, medium, large and metropolitan cities. The awards were presented at the Conference’s 87th annual meeting in Honolulu, Hawaii.
“The 2019 CommunityWINS Grant Program is an opportunity to honor and showcase productive neighborhood revitalization efforts that are making a real difference in communities across the country,” said Tom Cochran, CEO and executive director of the U.S. Conference of Mayors. “We appreciate Wells Fargo and the Wells Fargo Foundation for their continued support of the CommunityWINS Program, which also celebrates the leadership of mayors and city governments.”
The grant program, a collaboration between the U.S. Conference of Mayors and Wells Fargo, will extend into 2020, funded with a total of $6 million from the Wells Fargo Foundation.
The 2019 CommunityWINS Grant Program honorees are:
Albuquerque Mayor Tim Keller receives the top honor in the metropolitan city category, and the CNM Film Production Center of Excellence at the Albuquerque Rail Yards is presented with a $300,000 donation. Grant funds will be used for the planning and design of the future CNM Film Production Center of Excellence. As part of Albuquerque’s economic development plan, the city has partnered with Central New Mexico Community College to revitalize the Barelas neighborhood and historic Rail Yards building in support of the state’s growing film industry. More than 200 major productions have filmed in New Mexico since 2003.
Atlanta Mayor Keisha Bottoms is the top honoree in the large city category, and nonprofit Women’s Academy receives a $200,000 donation for its Wellspring Living, Inc. program, which provides job training and critical support to women who are human trafficking survivors or are vulnerable to human trafficking. Wellspring enables survivors and at-risk young women with the opportunity to earn their GED, receive therapeutic services and participate in life skills, career readiness and technology training that lead to high school diploma equivalency and sustainable-wage employment placement. The Women’s Academy anticipates serving 80 women from Metro-Atlanta with job training, apprenticeship, job placement services and support services over the next year.
New Haven Mayor Toni Harp is the top honoree among medium city mayors, and Continuum of Care, Inc. receives a $150,000 grant for its Supported Training and Employment Program (STEP) for citizens diagnosed with severe mental illness and developmental disabilities. Started in 2016, STEP serves citizens with severe mental illness and developmental disabilities. The grant funds will be used for additional staff and equipment to expand the apprenticeship and training aspect of the program, which prepares participants for employment in fee-for-service cleaning, landscaping, moving and food services.
Romeoville, Ill. Mayor John Noak receives top honors among small city mayors, and a $75,000 grant is awarded to Lewis University in support of its Lewis Innovation Hub. The partnership among Romeoville, Will County and Lewis University serves as a business incubator for start-up companies. With the Lewis Innovation Hub, college students and entrepreneurs receive access to offices, meeting space, mentorships and an array of business support resources and services to support local economic development.
Additional 2019 CommunityWINS Grant Program Outstanding Achievement awards honorees include:
Austin, Texas, Mayor Steve Adler receives honors among metropolitan city mayors, and nonprofit Affordable Central Texas, Inc. is awarded a $100,000 grant in support of The Austin Housing Conservancy Fund. Through this effort, an innovative effort will be initiated to provide a scaled housing affordability solution to serve Austin’sworkforce. The intended impact of this initiative is to reverse income segregation and increase opportunity for Austin’s workforce to live in areas that foster health and well-being through their access to jobs, transit, education, green grocery, recreation and health services.
Minneapolis Mayor Jacob Frey is recognized among large city mayors, and nonprofit Appetite For Change, Inc. is awarded a $75,000 for grant in support of its initiative Hungry for Change: Northside Food Economic Development, Neighborhood Revitalization and Job Creation. Hungry for Change creates public, food-centered economic opportunities accessible to minority-owned businesses and generates jobs for minority residents in Minneapolis’ Northside.
Duluth, Minn., Mayor Emily Larson is recognized among medium city mayors, and nonprofit Ecolibrium3 is awarded a $50,000 grant in support of its Innovation Zone Energy and Education Project. Ecolibrium3 provides solar power at the entrance of Duluth’s lowest-income neighborhood to offset electrical usage at the Duluth Veteran’s Place transitional housing project and to create an Emergency Energy Fund assisting residents at risk of utility shut-off. In addition, in collaboration with Duluth Public School, the initiative will pilot helping students learn from participating in community-based improvement projects and support a volunteer-based energy efficiency and healthy housing program.
Plainfield, N.J., Mayor Adrian Mapp is honored among small city mayors, and Second Street Youth Center, Inc. is awarded a $50,000 grant for the Second Street Youth Center Pathways to Stabilization initiative. The grant funds will enable the nonprofit to expand Science, Technology, Engineering, Arts and Math (STEAM) programs for children. In addition, the center will expand the computer technology program and add a Robotics Club and curriculum. The STEAM program also incorporates the nonprofit’s Urban Farm, providing opportunities for children to learn many STEAM skills through growing fresh produce.
The Government of Canada is advancing women’s economic empowerment with the first ever Women Entrepreneurship Strategy, a $2-billion investment that seeks to double the number of women-owned businesses by 2025.
The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, has been touring the Capitale-Nationale region and meeting with local female entrepreneurs and business leaders to celebrate women’s entrepreneurship in Canada and share how the federal government is helping women succeed.
During his visit to Saint-Augustin-de-Desmaures, Minister Duclos, on behalf of the Honourable Mary Ng, Minister of Small Business and Export Promotion, announced an investment, through the Women Entrepreneurship Fund (WEF), of up to $100,000 in 10th Ave Productions, a female-owned and ‑led film and television production company. This investment will help the company expand and export its entertaining, captivating productions to international markets.
The Women Entrepreneurship Strategy complements the Government of Canada’s efforts to advance gender equality. These include addressing pay equity, providing more affordable child care and putting an end to gender-based violence.
“Our government believes that women’s economic empowerment is not just the right thing to do; it’s good for the bottom line. That’s why we launched the Women Entrepreneurship Strategy, a strategy that seeks to double the number of women-owned businesses by increasing their access to financing, networks and advice. It’s a smart investment with an economic and social return.” – The Honourable Mary Ng, Minister of Small Business and Export Promotion
“The women entrepreneurs and business leaders of the Capitale-Nationale region play a major role in our economy and our communities every day. I am proud to be part of a government that is serious about the economic empowerment of women. From pay equity to improved parental leave, the government is taking the actions required to improve gender equality. This is good for Canada and for Saint-Augustin-de-Desmaures. When women succeed, everyone succeeds.” – The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development
The Women Entrepreneurship Strategy (WES) will help women start and grow their businesses by improving access to financing, talent, networks and expertise through an investment of nearly $2 billion.
The strategy will help our government achieve its goal of doubling the number of majority women-owned businesses by 2025.
In Budget 2018, the Government of Canada allocated $20 million to the Women Entrepreneurship Fund. Following the call for applications held in fall 2018, over 3,000 applications were received and over 200 projects were funded. The Government is pleased to be able to support approximately 100 more projects by investing an additional $10 million in the Women Entrepreneurship Fund. With this new investment, the Government is providing a total of $30 million to women-owned and -led businesses across Canada to grow their businesses and reach new markets.
WES programs complement our government’s broader initiatives to help women, including measures on pay equity, more flexible parental leave and more affordable child care.
Advancing gender equality has the potential to add $150 billion in incremental GDP to the Canadian economy by 2026.
Just 16% of SMEs in Canada are majority women-owned.
Only 11.2% of majority women-owned SMEs export, compared to 12.2% of majority male-owned SMEs.
The Global Entrepreneurship Monitor Canada 2015/16 Report on Women’s Entrepreneurship indicated that, in 2016, Canada had the highest percentage of women participating in early-stage activity (13.3%), and the fifth highest in terms of female ownership of established businesses among comparable innovation-based economies.
Final funding is subject to negotiation of contribution agreements.
Hired, the career marketplace that matches tech talent with the world’s most innovative companies, has released its annual global State of Salaries Report 2019. The report found that the average salary for London tech workers has increased 6% from last year, from £58K to £62K.
This is 67% higher than the average London salary of £37.1K, yet only half of London’s techies believe they’re paid fairly given the city’s cost of living. In fact, despite their top salaries, 71% of London’s tech talent currently choose to rent rather than buy a home, standing out from the average techie in the US, Canada and France, where 45% own their own place. According to the UK House Price Index, as of March 2019, the average flat in London costs £404.2K to buy, and the average detached house costs £897.8K.
Hired’s report looks at data from its career marketplace, looking specifically at the salary trends in different cities that are shaping the global technology industry, as well as utilising survey data to better understand how compensation affects tech talent’s job satisfaction and personal fulfillment.
Other key UK findings were that:
UK tech workers in healthcare and finance earn the most, with average salaries of £67K and £64K respectively
Product Managers have enjoyed an £8K increase in salary from 2017 to £69K, while Data Scientists’ salaries have remained the same
Backend Engineers are the most in-demand techies in the UK, followed by Full Stack Engineers, Frontend Engineers, Data Engineers, Mobile Engineers and Machine Learning Engineers
54% of tech workers globally are on the fence about forgoing a higher salary for company equity, rising to 69% in the UK.
The US is the most profitable country for tech workers – the San Francisco Bay Area continues to pay its tech talent the most, with employees earning $145K (up 2% since last year), followed by $138K in Seattle (up 5%) and $133K in New York (up 3%). However, paychecks are growing fastest in Toronto, Boston and Paris where tech workers are making 9%, 9% and 8% more than last year respectively.
Some other interesting global findings from the report include:
60% of tech talent plans to leave their current city within five years. For employees considering relocation to another city, Austin, Seattle, and Amsterdam are most attractive.
Only 23% of techies with a Master’s and/or PhD believe they command high salaries because of their advanced degree.
Commenting on the report, Mahul Patel, CEO of Hired, said: “Our unique window into the key salary trends shaping the career landscape for tech talent enables us to empower tech workers to gain better visibility and transparency into the compensation available in their industry. We hope this report will make it easier for job seekers to understand their market value, create an equitable future and help them to find a job they love with a salary they deserve.”
A new survey suggests that MBA graduates at top business schools are extremely confident about their job prospects. Nearly three quarters (72.4%) of MBAs report feeling either very or somewhat optimistic about employment opportunities compared to a year ago.
That is one of the key findings of the 11th annual Training The Street (TTS) MBA Employment Survey, which is conducted at the nation’s top business schools.
The survey also shows that student debt is a key concern, even for high earners going to Wall Street. More than half of those surveyed (56.2%) said the ability to pay back their student loans would affect the type of job they plan to accept, indicating that even MBAs, many of whom will be starting out with salaries in excess of $125,000 (42% of survey respondents), are concerned about student debt.
“The US economy is strong, unemployment is near an all-time low, and that’s fueling a tremendous sense of optimism among MBAs,” said Scott Rostan, founder and CEO of Training The Street, the leading corporate training provider for Wall Street firms and top-tier business schools. “But MBAs also realize that even with strong salary prospects, student loans can be onerous. Choosing the best career path to help pay those loans off is an important priority.”
Other findings suggest that a traditional Wall Street career at an investment banking firm may be a temporary choice. Only 29% of respondents expect to be at bulge bracket or boutique advisory firms in five years. In contrast, nearly three quarters of respondents (71.5%) expect to be working in private equity, venture capital, at hedge funds, or in a corporate or industry position in five years.
While salary and financial concerns are top of mind, MBAs are also focused on long-term career goals. In evaluating the most important factors when selecting an employer, 73.6% of respondents cited career growth opportunities as their number one priority. Second highest in consideration was salary at 59%.
Workplace culture is also important. In deciding on potential employers, culture came in third after growth opportunities and salary, with nearly half (49.6%) of current students listing it as a priority.
“Financial decisions are framing the beginning of a financial services career,” said Mr. Rostan. “But culture and career path are also paramount. Traditional Wall Street firms have an opportunity to retain talent, especially as they continue to evolve their cultures and provide career growth opportunities in what is a highly competitive environment.”
Methodology The survey was conducted via SurveyMonkey in Q2, 2019. To collect the data used in this release, 522 students currently enrolled in a business school pursuing an MBA were surveyed.
Chad Olin | Havana, Cuba | 2017 || Photo by Danielle Levitt
In the company’s founding story, Olin reveals the deeply personal journey of leaving his private equity career in New York City to launch an experiential travel company in Cuba. In search of personal growth and fulfillment, Olin quits his job and follows his passion for travel. On a quest for “dense experiences,” he is transformed during a profound months-long backpacking adventure in Asia.
A unique moment in history presents itself while Olin is attending Harvard Business School—President Obama announces the normalization of diplomatic relations with Cuba. And with that, everything changed. During the subsequent summer spent on the island, Olin is inspired by meaningful encounters with the Cuban people. He connects with the island’s spirit of hospitality and is forever changed by the country’s warmth, cultural vibrancy, creativity, resilience and sense of community.
Shaped by the transformative power of travel and compelled to share authentic experiences with others, Olin launches CUBA CANDELA. The path is paved with herculean obstacles. Despite many challenges, Olin is propelled forward by a deep trust and rooted sense of purpose in showing the world there is more that unites us than divides us.
CUBA CANDELA delivers impactful and authentic luxury experiences on the island of Cuba, through a socially conscious model that is respectful and sustainable to local communities. Through the company’s work with private sector Cuban entrepreneurs, its custom tours for individuals (couples and families) are authorized under the “support for the Cuban people” travel license and are fully compliant with the new Cuba travel policy announced by the Trump administration on June 4, 2019.
The millennial-founded company deeply values the transformative power of travel and purpose-driven entrepreneurship. Beyond providing the exceptional service and amenities associated with luxury travel, CUBACANDELA provides clients with truly unique and enriching immersive experiences that foster cultural understanding.
CUBA CANDELA specializes in private luxury travel, delivering a full suite of services including travel documents, luxury accommodations and exclusive experiences. https://www.cubacandela.com/
With a recent report from the CBI highlighting that over two thirds of businesses have unfilled digital vacancies, The Myers-Briggs Company is advocating the importance of life-long learning this Festival of Learning (17th – 23rd June) to reverse the gap. Not only does an emphasis on continual learning and upskilling help to plug the gap, research from The Myers-Briggs Company also reveals it’s key to employee wellbeing.
Myers-Briggs’ latest study of 10,000 people across 131 countries, entitled “Well-being in the Workplace”, compared workplace well-being across geographies, occupations, genders, personality types and age. Led by Dr. Martin Boult and Dr. Rich Thompson from The Myers-Briggs Company, participants rated the effectiveness of a wide range of activities for enhancing their well-being. Overall, two of the top five most effective activities were ‘undertaking work where I learn something new’ and ‘undertaking challenging work that adds to my skills and knowledge’.
This highlights the importance for employees to consistently have opportunities to learn throughout their careers – something that employers can leverage to keep their workforce motivated while also upskilling workers to future-proof their businesses. We’re currently seeing a rapid pace of technological change, with statistics showing that there could be as many as 750,000 unfilled jobs in the European ICT sector by 2020. Companies need to retrain employees at increasingly regular intervals – something that is well worth the investment considering the importance of learning for workplace well-being.
John Hackston, Head of Thought Leadership at The Myers-Briggs Company, commented: “Learning should never stop and there is real benefit for companies that place an emphasis on training and upskilling. Not only will they keep their employees engaged, they’ll also be in prime position to upskill their workforce to face future business needs. However, to be really successful, employers should consider employees as individuals and recognise that personality greatly impacts motivation to learn, how people learn and how they then apply learning.”
Hackston continued: “Different people approach learning in different ways. For example, those with a preference for Extraversion may be naturally disposed to take in and explore new concepts by talking them through and will likely have a large range of different interests. On the other hand, introverts may prefer to work out new ideas by reflecting on them and might prefer to focus in depth on particular topics. Upskilling is an important opportunity with dual benefits for both employee and employer, but investment, time and care should be taken in planning how it will be implemented amongst employees so that everyone can enjoy the positive effects.”