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Businesses 'must attract and retain top talent'

Published: Friday, 18 April 2008   Category: Life after graduation

The attraction and retention of skilled employees is the key to an advantageous business, according to new research

A study of some 200 senior executives with UK enterprises by business services firm KPMG revealed that 83 per cent felt human capital was intrinsic to gaining an edge over competitors.

Aoround three quarters of companies surveyed said the UK was lacking in skills, especially literacy and numeracy, while two-thirds said the current skills shortage was having a detrimental effect on their business.

Ronnie McCombe, head of people services at KPMG, said it is "very frustrating" for companies who invest time and money into training staff only to lose them shortly afterwards.

"In the past few years, we have seen a number of companies, looking to adopt a more strategic approach to these challenges, implementing a reward strategy designed to make a clear and tangible difference to the business bottom line," he said.

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