Why? Because, as has been so widely reported, there is a huge shortage of candidates across all sectors and the Office for National Statistics (ONS) estimates there are more than one million vacancies to fill nationally.

This surge in the availability of work is partly due to the pandemic, with sectors such as leisure and hospitality opening up again, the demand for staff has risen sharply. For some sectors, such as care and heavy goods driving, there has been a long-term shortage of qualified people for many years which has now reached a critical point.

This has a knock-on effect to the supply chain for lots of goods, including materials for the construction industry, and this is having another major impact on businesses in the area. 

The shortage of skilled staff is putting pressure on wages. We are seeing wages start to rise and the proposed 6.6% increase in the national minimum wage increases in April 2022 will be welcomed by many workers. Those businesses which can afford higher wages are attracting staff by offering more money. We recently heard of one Wiltshire business which lost several employees to a competitor with similar roles who put their wages up by 30%. 

Wage rises are, of course, are to be welcomed for employees. However, not many businesses can afford wage rises in the region of 10-30% without cutting into already tight margins or passing the cost onto the consumer, which then fuels inflation. If prices go up at the same rate that wages rise, then all that has been achieved is a status quo.

Businesses need to use more than just their rate of pay as a hiring and staff retention tool. They need to look at:

  • their employees’ wellbeing
  • their training and personal development

and importantly, pay close attention to:

  • their onboarding processes

Thinking about their people and HR as an integral part of the business rather than just a legal function is a good way to start and finding a partner to work with on a staff development strategy could make all the difference to a growing business. If you struggle for time, then building a sound relationship with a good recruitment business who really understands your roles is another great way to get top talent into your business. 

So how do we solve the skills crisis? 

One way to help solve the skills crisis is by investing in youth development. A key factor in the success of ambitious growing businesses is undoubtedly their attitude towards developing this, combined with the investment they make through training or mentors for existing staff. 

At the Swindon and Wiltshire Growth Hub we have a dedicated team of people to help you fill the skills gaps in your business to accelerate growth. We’ve already helped thousands of businesses across Swindon and Wiltshire with hundreds of kickstart placements which have been extended until March 2023. We can also help you consider the value in providing apprenticeships, including positions for mature people and graduate apprenticeships providing staff development routes from level 2-7 using our established relationships with local universities and apprenticeship providers.  

The incentives to take on an apprentice have never been better, and businesses can apply for a payment of £3,000 for apprentices, applications close on 30th November 2021. From 11th January 2022, you will be able to apply for a payment of £3,000 for apprentices with an employment start date from 1st October 2021 to 31st January 2022. Applications close on 15th May 2022.

In addition to this we also work with training partners such as Serco Skills Support for the Workforce who provide fully funded, flexible training for business owners or their staff including: Leadership/Management/HR, IT/Digital Skills, Business & Office Skills, Digital Marketing, Health & Social Care, Hospitality & Catering, Mental Health Awareness and many other areas critical to businesses.

Contact our dedicated team here: [email protected]

The Swindon and Wiltshire Growth Hub can also help a wide range of business support functions and all our services are provided completely free of charge. 

We provide a wide range of business support for start up’s through our partners at YTKO , scale up’s with SET Squared and everything in between. Our full range of support services can be found here including information on our Growing Places Infrastructure Fund to support local businesses with capital investment projects. 

Our internal specialists can help you with carbon reduction advice, digital marketing, finance and grants or skills support and we also provide funded peer networking opportunities. We can sign-post you to a wide range of external delivery support partners such as SWMAS, SERCO Skills, Food Works, innovate UK the DIT and much more depending on your specific requirements. 

If you’re looking for support with skills, growing your business or any other general business support, then please get in touch with a member of our team by calling or emailing us.

We look forward to helping you.