Why talent is more important than ever

Investing early in future talent is no longer a nice-to-have – it’s business critical. Where once companies may have had a team focused on education and outreach, this work is now, more than ever, absorbed into HR and recruitment teams.

Taking note

Talent investment is something C-suite is taking an increasing interest in – because they know this sits at the heart of protecting market share. Failure to create memorable attraction campaigns, experiences, or learning programs now puts your vision at risk. But getting it right builds relationships with young people, whether as future consumers or employees. Meaningful engagement also helps forge a powerful, authentic story about your company’s purpose and impact in an era when there’s ever more scrutiny of shallow purposewashing.

I was joined at We. Social Impact’s webinar, The Skills Imperative, by Amy Caton, senior program manager, social impact at BT Group, and Andrew Croydon, director, education and partnerships, The Association of the British Pharmaceutical Industry (ABPI), representing the technology and pharma sectors – two leaders with vital roles at the heart of the UK’s future. I also shared work we have done for JLR (formerly Jaguar Land Rover), developing Create Possible – free educational resources designed to foster the passions of 11-14-year-olds – with the leading automotive brand.

Below are my top takeaways from the session.

1. People are still our most important asset.

AI means changes, but it doesn’t mean young people should be despondent or that business won’t need brilliant talent. Caton reminded us, in fact, that technological change means it’s more important than ever to support young people to develop the transferable skills they need to thrive and adapt as their jobs change.

That’s why BT Group has invested in its Work Ready programme, she explained – to inspire the next generation of tech talent, and to help develop the digital skills that we’re all going to need, whatever we go on to do.

The stats on skills gaps are stark – they cost businesses and the UK economy millions, and threaten the ability of essential industries to meet their targets.

It’s only by investing in, inspiring, and upskilling brilliant young people earlier that we can avoid this trap.

2. It’s even more important to stand out to young people.

Our work with JLR as they deliver their ambitious Reimagine strategy has highlighted how, with changes in the automotive sector driven by sustainability and electrification, top talent is in increasing demand.

Key skills, such as software and data, are crucial to success – and aren’t just limited to one sector. Businesses such as JLR or pharma companies are now competing for talent with those skills alongside everyone from tech giants to energy companies.

That highlights the importance of investing in skills and attraction programs much earlier – to widen the funnel so you’re not fighting for the same pool of talent, and ensuring young people have an instinctive understanding and interest in your sector.

3. Leverage place to find game-changing talent

Caton reminded us that talent is evenly distributed, but opportunity isn’t. ABPI has a brilliant network of members, including small and local employers, who are often vital and give young people a foothold in the industry. They also publish data on pharma cold spots – and it’s this kind of data that can give a competitive advantage and help target interventions.

While many of our networks may be in big cities, in an ultra-competitive future of work, we can gain an edge by looking at different places and regions, and local interventions and campaigns to reach new talent.

Investing in skills further afield will also help us deliver impact, by extending opportunity to many of the so-called ‘left behind’ places where businesses have a crucial, social role and responsibility.

Similarly, while some companies have scaled back DEI initiatives, the business case remains – as Croydon reminded us, ABPI reports show investing in underrepresented groups is still a crucial way to improve the quality of our talent pipeline and serve our audiences better.

4. Remember current employee engagement, too

If you do take on the challenge of inspiring future talent, it’s not just tomorrow’s employees that will thank you. Your current workforce might just be re-energized, as well.

JLR’s Create Possible was co-created with brilliant people right across the business – with the strategy shaped around the idea of personal passion, which shone through interviews with so many stakeholders.

Similarly, Croydon highlighted how even small companies in the pharma sector can use their people to inspire the next generation – answering practical questions or even creating ‘day in the life’ social media content.

At BT Group, volunteers are a core part of delivering the Work Ready program, sharing their experiences to inspire the next generation of talent – and Caton shared what a brilliant employee engagement tool it was. Volunteers often come away inspired and energized about their jobs, too.

The overall message was clear – this is a huge competitive opportunity for ambitious businesses to futureproof their strategy and their talent, to connect with young people, and to make a big difference to communities along the way. It just demands all of us be bold enough to seize it, even when the climate feels challenging – because that’s when it really matters. Our work with JLR, BT Group, ABPI, and many more proves that when brands invest in young people, they don’t just futureproof their workforce, they futureproof their market relevance.