Honey, I've Lost the Talent

Juliet Hailstone

Juliet Hailstone is a Senior Product Marketing Manager at MHR, responsible for supporting MHR as an innovative and value-oriented HCM provider in relevant target markets and industries.

According to The Guardian's 'View of Graduates Employment' published in 2016, the UK is a world leader in "skills", with a more skilled workforce than ever before - "From 19% of school leavers entering higher education in 1989, to 47% now, the UK has seen the biggest expansion of its university industry anywhere in Europe".

Great news, right?

Well, not if you look at the wider context of the article, exploring the issue of 'degrees not destinations'. In short, our universities are producing so much talent that our employment opportunities can't keep up! An article in last year's Financial Times echoes the concern that 'Young UK graduates struggle to find skilled work'

So where does all the excess talent go?

Denmark, apparently. According to analysis of employment opportunities and standard of living data referenced by the Telegraph, Denmark has recently been named the top employment destination for British graduates. Why? It's thanks to a combination of high starting salaries, lower average rent costs and affordable living costs. 

In the same article, The Telegraph display a TransferWise chart displaying the relative annual salaries and rent in a number of European countries. As you can see, the UK has a relatively low annual salary with a comparatively average annual rent cost. 

What does this mean for UK companies looking to find or keep the best talent?

In short, it means thinking creatively, Trying harder. If there are economic, political or social conditions beyond your control, companies can consider offering more creative remuneration packages, pushing employee engagement strategies to their limit, and offering best in class development opportunities to deliver an excellent and appealing package to the talent they want. If they can do that, then that's the competitive edge - the best people, the freshest talent, doing what they do best and shaping a positive future of UK industry.

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