Manufacturers go local in talent search
The research of 132 business leaders and 88 employees at small and medium-sized enterprises (SMEs) in manufacturing also revealed that 94% use local suppliers in their businesses.
The survey showed success was not only about achieving positive results and financial benefits but about operating businesses in the “right way”.
The findings revealed that investment in the local area was a way of supporting prosperity beyond the business. Nearly 98% of SMEs in the manufacturing sector attract and recruit talent from their region and 94% enlist the services of local suppliers and contractors.
Nearly half of business leaders believed that the most productive workforce was achieved by offering employees flexible working conditions, according to 40% of respondents, and by investing in future potential, selected by a further 40%.
The leaders said that training and upskilling was the number one focus for talent development over the next five years.
Employees highlighted the importance of people development in business success, with innovation in staff training and empowerment to try new things seen as the best ways to remain competitive.
Role of ceo/md will become more diverse
The majority (78%) of leaders believe the role of ceo/md will become more diverse and accessible to the workforce in the future. However, employees still see these jobs as being out of their reach, with 52% expecting promotion to ceo to become more challenging over the next five years.
Business leaders said the number one priority was to empower the workforce, by building an environment that encourages creativity and innovation. Employees agreed, stating that the most desirable quality in a business leader is the ability to empower and trust their colleagues.
Most leaders
The findings also suggested that the traditional five-year business planning cycle was largely a thing of the past. Most leaders (91%) changed their strategy at least once a year and almost three-fifths did so at least every six months.
Standard Life md Stephen Ingledew, responsible for marketing, said: “Our research shows that UK SMEs are strongly committed to building working environments that nurture flexibility and innovation, retaining strong core values which help them attract and retain the best talent.”
He added: “Small manufacturers play a major part in the UK economy, both at a national level in terms of contribution to output and gross domestic product, and locally where they form part of strong supply chains, supporting other SMEs and employing people from the regions in which they operate.”
Meanwhile, the Food Manufacture Group will be staging a free-to-attend, Big Video Debate on apprenticeships at the Foodex trade event, at the National Exhibition Centre Birmingham, on Tuesday April 19 at 11.30am.
