Companies are fighting in the “War for Talents” for the best (young) professionals. Three facts from a recent study show why further education plays a central role in this battle.
About the study: The War for Talents 360-degree study was conducted in early 2019 in Austria. Both employees and HR managers answered questions about job and personnel searches, the attractiveness of companies, and opportunities for further education. You can download the study here – we summarize the key points in this article for you.
Fact 1: Massive skills shortage affects two out of three companies!
The skills shortage has been causing major problems for companies across all sectors in Germany for years: More than one million positions remained unfilled in 2019! According to the study, two out of three companies in Austria are affected by the skills shortage.
But what can companies do to combat the skills shortage, the “War for Talents”? In the study, over 60% of respondents state they aim to overcome this skills shortage with the following three measures:
Measures to retain employees with the company.
Measures for enhancing the company image (keyword Employer Branding).
Stronger investments in employee further education.
Highlighted in green: 62% of companies want to invest more in employee further education.
Fact 2: Further education is relevant for employer choice!
Over 75% of the surveyed employees respond to the question of how important further education is to them with “very important” or “somewhat important.”
Furthermore, it is evident: The younger the employees, the more important opportunities for further education are to them!
This high relevance of further education offerings is also reflected in the choice of employers: Training and further education ranks third among the most attractive benefits that companies can offer their applicants. Thus, further education is almost as interesting for employees as additional vacation!
The top benefits for applicants: Further education offerings (in green) are important for choosing a company.
Fact 3: Personal development is also important!
Anyone who immediately thinks of traditional management training regarding further education is not off base – but overlooks two even more important forms of further education:
At the top of the list of attractive further education opportunities are subject-specific training programs. Just behind them are offerings for personal development. Management training only ranks third with some distance.
Personal development is more important to employees than management training.
3 Learnings for Companies
Companies must invest more money in further education offerings to remain attractive employers.
Comprehensive further education offerings are extremely important for employees when choosing the right employer.
Opportunities for personal development must not be neglected in corporate further education offerings!
