Sheffield Haworth’s Post

(𝐋𝐚𝐜𝐤 𝐨𝐟?) 𝐭𝐢𝐦𝐞 𝐭𝐨 𝐝𝐞𝐯𝐞𝐥𝐨𝐩 𝐬𝐤𝐢𝐥𝐥𝐬 🕰️ 𝙒𝙝𝙖𝙩 𝙖𝙧𝙚 𝙮𝙤𝙪𝙧 𝙗𝙖𝙧𝙧𝙞𝙚𝙧𝙨 𝙩𝙤 𝙙𝙚𝙫𝙚𝙡𝙤𝙥𝙞𝙣𝙜 𝙨𝙠𝙞𝙡𝙡𝙨? Australia aims to have 1.2 million technology workers by 2030, requiring an additional 600,000 according to Future Skills Organisation. Skill development is crucial for closing this gap, but it's easier said than done. Some great points made recently by Suncorp chairwoman Christine McLoughlin: 🧠 𝘾𝙤𝙣𝙩𝙞𝙣𝙪𝙤𝙪𝙨 𝙨𝙠𝙞𝙡𝙡 𝙙𝙚𝙫𝙚𝙡𝙤𝙥𝙢𝙚𝙣𝙩 𝙨𝙝𝙤𝙪𝙡𝙙 𝙗𝙚 𝙨𝙚𝙚𝙣 𝙖𝙨 𝙖 𝙛𝙪𝙣𝙙𝙖𝙢𝙚𝙣𝙩𝙖𝙡 𝙚𝙢𝙥𝙡𝙤𝙮𝙚𝙚 𝙧𝙞𝙜𝙝𝙩, 𝘯𝘰𝘵 𝘫𝘶𝘴𝘵 𝘢 𝘸𝘰𝘳𝘬𝘱𝘭𝘢𝘤𝘦 𝘥𝘶𝘵𝘺 𝘰𝘳 𝘣𝘦𝘯𝘦𝘧𝘪𝘵 🧠 𝙀𝙢𝙥𝙡𝙤𝙮𝙚𝙧𝙨 𝙨𝙝𝙤𝙪𝙡𝙙 𝙩𝙖𝙠𝙚 𝙩𝙝𝙚 𝙡𝙚𝙖𝙙 𝘣𝘺 𝘢𝘭𝘭𝘰𝘤𝘢𝘵𝘪𝘯𝘨 𝘱𝘢𝘪𝘥 𝘸𝘰𝘳𝘬 𝘵𝘪𝘮𝘦 𝘵𝘰 𝘴𝘬𝘪𝘭𝘭𝘴 𝘥𝘦𝘷𝘦𝘭𝘰𝘱𝘮𝘦𝘯𝘵 #𝑠𝑤𝑝 #𝑠𝑘𝑖𝑙𝑙𝑖𝑛𝑔 The Australian Financial Review https://lnkd.in/gGFrvSFF

Unlock Revenue Potential with Enhanced Benefits Enhanced benefits are not just an added perk—they’re a cornerstone of financial security for employees in every aspect of their lives. From safeguarding against disabilities and online threats to securing Long Term Care and Life Insurance, we offer comprehensive solutions tailored for all employees. But implementing these benefits is just the beginning. Education is Key. Take, for example, a recent group we assisted in a takeover. By educating and engaging employees, we increased participation by 31%. This led to: - Happier Employees: Employees felt valued and protected. - Satisfied HR Teams: Benefits were utilized and appreciated. - Revenue Growth: An impressive $135k increase in annual commissions. Investing in enhanced benefits and prioritizing education transforms your workforce and significantly boosts your revenue. Let’s work together to create a financially secure and thriving workplace.

This effort is to ensure that upskilling and reskilling efforts are aligned with future trends and sectoral needs.

Singapore’s SkillsFuture Jobseeker Support scheme is a well-intentioned step towards helping displaced workers, especially those in lower and middle-income brackets. But is it really addressing the core issues, or just scratching the surface? 🤔 * The Good * - Financial Assistance: Up to $6,000 over six months offers some relief. - Focus on Skills: Emphasizing training, career coaching, and job matching is essential in today’s fast-evolving job market. But here’s where it gets tricky … * The Concerns * 1. Is $6,000 enough? In a high-cost living environment like Singapore, this temporary support may not stretch far enough, especially for families with dependents.    2. Conditions attached. While encouraging upskilling is great, requiring it might place extra pressure on those already stressed from job loss. The quality and relevance of training will be crucial - will it genuinely help people get back on their feet? 3. The unemployment insurance debate. The government's hesitation around unemployment insurance due to fears of misuse overlooks the potential for a tailored, robust system in Singapore. Are we missing out on a more sustainable support option? 4. Details, please! With the lack of specifics about how this scheme will roll out, there’s still a lot up in the air. How will it work? Who qualifies? The devil is in the details, and we need clarity. 5. Ignoring ageism. Older workers are particularly vulnerable during job transitions, facing ageist biases that make it harder to secure new employment. A scheme that doesn’t address these biases head-on might leave a significant portion of the workforce behind. 6. Structural issues. Focusing solely on individual upskilling risks ignoring deeper job market challenges like wage stagnation and job security. We need a holistic approach that tackles these systemic issues, not just a quick fix. The scheme is a step in the right direction, but let’s be honest - $6,000 and mandatory training won’t solve everything. We need more comprehensive, long-term solutions that address the real barriers, including ageism, to truly support our workforce. What do you think? Is this scheme enough, or do we need to rethink our approach to job security and age inclusivity in Singapore? 🔥 #SkillsFuture #JobSupport #Unemployment

“Talent retention – an ever-evolving experience”   Recently I was trying to convince one of my former students to join my team. He was excited about the opportunity but asked me “Sir, How much is the insurance cover for the dependents?”.   He said, his current employer provides 10 lakhs (1 million) coverage for him and his dependents, he uses that for his Dad’s medical treatments. I couldn’t offer him that perk and he didn't join.   Employees think differently, and businesses must adapt.   They care about certain benefits, and it pays to know what matters to them.   Retaining talent is so much more advantageous than constantly replacing it.   So what's the takeaway?   Invest in benefits/perks for the people - Yes, they cost money, in the #short term.   But replacing talent over and over costs so much more.   And you're also constantly disrupting continuity within your team/organization when you're bringing in new people over and over.   Not to mention you’re contributing towards a better life for your staff.   Don't step over the dollar to pick up the dime.   Avoid short-term savings and invest in the future of your people. #talentretention #employeebenefits

Attracting the talent of the future... 𝐜𝐚𝐧 𝐰𝐞 𝐬𝐡𝐚𝐤𝐞 𝐭𝐡𝐞 𝐬𝐭𝐢𝐠𝐦𝐚? It may be hard to admit; Insurance is the least attractive industry to build a career in according to many young professionals. LinkedIn News UK recently talked about how a study from Free Partners LLP has confirmed that we simply can't shake the fact we lack career appeal to 16-24 year-olds. In fact, 𝐰𝐞 𝐚𝐫𝐞 𝐝𝐞𝐚𝐝 𝐥𝐚𝐬𝐭. Trailing behind the Financial Services Industry, even Retail and Sales. This is a statistic that shakes the ground beneath an ageing industry. Not attracting the next generation can have a significant impact on talent attraction and create a tougher "talent war" in an already competitive market. It's not all doom and gloom, however. We've done a great job in meeting the aspirations of young professionals with plenty of lucrative career opportunities with amazing communities. We just don't talk about it enough. While the Lloyd's market is filled with historic traditions, we're innovating and building purpose into what we do, which is what the younger audience is looking for in their work. Doing what I do, I see first hand in some of the challenges we face in attracting and retaining young talent. Work life balance is a higher priority and it's difficult to promote a modern, tech-savvy world that's fun and engaging as insurance is seen as "rigid and unappealing". And 50% of the current workforce will retire in the next 15 years, according to estimates, reinforcing the need for the next generation of insurance pros. What can we do to mitigate this talent crisis? #Hiring #Insurance #TalentAttraction

As always, insightful data from #NACE that highlights the perspective of #newgraduates and #entrylevelprofessionals as they enter a rapidly-changing #jobmarket. These are also critical benefits to highlight for #newinterns.

What benefits do you value most when accepting a job offer?

In today’s market, employees have the advantage of surging demand. Therefore, the best employers are those outstanding firms that stand apart by creating environments where their people can thrive and attract others.  From fostering inclusivity to championing staff growth, Insurance Business’ Top Insurance Employers for 2024 are beacons of best practice for their people. Read the full report and meet the employers facilitating excellence and focusing on hybrid work models, wellbeing, and career development. https://hubs.la/Q02m3L4L0

Implementing group benefits can provide numerous advantages for a company, including: 1. Attracting and Retaining Talent: Competitive benefits packages can help attract top talent and reduce employee turnover, ensuring that the company maintains a skilled and motivated workforce. 2. Employee Well-Being: Offering health insurance, dental plans, and other benefits supports employees’ physical and mental health, leading to a happier, healthier, and more productive team. 3. Increased Productivity and Morale: Employees who feel valued and supported are likely to be more engaged and motivated, resulting in higher productivity and morale. 4. Tax Advantages: Many group benefits are tax-deductible for the company, and some benefits, such as health and dental insurance, may be provided to employees on a tax-free basis. 5. Cost Savings: Group benefits plans often cost less per person than individual plans, allowing companies to provide comprehensive coverage at a lower cost. 6. Compliance and Risk Management: Offering benefits can help ensure compliance with labor laws and regulations, and can reduce the risk of legal issues related to employee benefits and compensation. 7. Enhanced Company Culture: A robust benefits package can contribute to a positive company culture, where employees feel their needs are acknowledged and addressed. 8. Financial Security for Employees: Benefits like retirement plans and life insurance provide financial security for employees and their families, which can reduce stress and improve focus at work. Implementing group benefits is an investment in the company’s workforce, which can yield long-term dividends in the form of a loyal, productive, and engaged team. Contact us to learn how you can attract top talent, boost productivity, and foster a positive work environment with a customized benefits package. #EmployeeBenefits #GroupBenefits #WorkplaceWellness #TalentAttraction #EmployeeRetention #HR #CompanyCulture #ProductivityBoost #EmployeeEngagement #BusinessSuccess