An engaged workforce can increase profitability by 23% – what difference would this make in pounds and pence to your bottom line?

Currently a lack of engaged employees costs the UK economy £257billion and impacts the business in so many ways including performance, health, work quality and slower work.

This also impacts keeping hold of your talented and valued employees.

Interestingly, 97% of managers believe they’re doing a great job managing their teams.

69% of employees actually agree (Gallup)

So not unsurprisingly 33% of the UK workforce are actively seeking new job opportunities

So when that valued employee leaves the business you then need to recruit and the recruitment costs are way more than an agents fee. For example, the true cost of replacing an employee on a £27k salary is an eye watering £63k once you have accounted for recruitment, NI, pensions, training, equipment, etc so nearly DOUBLE the salary

Let alone the time to allocate to interviews, onboarding and building relationships with your teams and customers

So it is much SMARTER to hold on to your good people that are right for your business

One way is by training and developing them. Delivering quality training and development is proven to

• Upskill
• Increase confidence
• Improve engagement
• Increase efficiencies
• Improve communication
• Improve team dynamics
• and last but by no means least – is a very clear message from leadership how much they value their staff

When familiar excuses arise—like lacking the budget, time, or resources—it’s important to weigh the risks of not investing in your most costly yet crucial asset: your people. If a valued staff member leaves, you’ll inevitably need to find all three, and recruitment often costs far more than the average training budget of £1,800 as well as the positive impact it can have on them, the team and the business.