It does not take a genius to realise that the UK consumer market is in a state of upheaval. Whilst the main factor may be COVID, in some cases the pandemic merely exacerbated existing challenging conditions. The triple whammy however comes with BREXIT and the many unknowns that may bring. All of this has impacted the consumer industry in multiple ways. Yet despite the challenges, we are seeing many clients showing significant resilience as they look to the future and plan ahead.
Since the March lockdown we have been working with existing and new clients helping them through 2020, whilst getting them ‘future-fit’ for next year. With budgets tight and hiring freezes instigated, many organisations have had to look internally, reviewing/assessing their talent internal for potential. Having taken some tough decisions early on, many have been left with leaner, more streamlined, and reorganised teams. Whilst on one level this may have right-sized the business and introduced short-term cost-savings, there will be inevitable skill gaps and bandwidth issues which may hamper an ability to retain key staff, as well as grow, acquire, and build. So as clients look ahead and think about growth and staff retention our clients are asking us, “How can, and how do, we create and retain a strong talent base that feels engaged and invested in”
The answer is a bespoke Talent Assessment/Development and Mapping/Benchmarking Programme. Developed in conjunction with our Leadership Consulting and Research & Insight teams, these integrated programmes allow clients to evaluate their internal talent, benchmark them against the future needs of the business, and then draw up individual development plans. This helps clients draw up a development investment plan and/or build a business case to make staff upgrades. Simultaneously, our Research & Insight function, will benchmark the competition helping clients understand who their top talent is, how it compares. and how they organise themselves. As our clients prepare to grow, being aware of top external talent enables them to build a talent pool and act proactively when it comes to bringing new talent into their business. In short, our proactive approach gives our clients competitive edge.
This approach has helped businesses understand the importance of driving the Internal Talent Agenda even – and especially – during times of crisis. By getting ‘match-fit’ for the future they increase their chances of not just surviving in 2020 but thriving in 2021!
If you would like to discuss this article further, learn more about The Norman Broadbent Group, or discuss specific people or organisational challenges, please do not hesitate to contact James Peskett via james.peskett@normanbroadbent.com for an initial confidential discussion.