February 8, 2012 by Neil
How focussed are you on job creation? How often do you have conversations with your Board about growth and opportunity? How often are you talking about investment in the future? Not only the capital investment, but investment in skills?
If it isn’t on your agenda, then I suggest you take a moment with yourself, take a deep breath and start to have the conversation each and every day.
We all know the state of the economy. We all know that unemployment is at the highest level for the best part of two decades. We know that youth unemployment is a social tragedy. And we know that the Government is ill-equipped and ill prepared to deal with it.
So who is going to make the difference?
Well the answer is that business is partly responsible for getting us into this mess, and we are the only people who can get us out of it. And we aren’t going to do that by focussing on cost cutting, rationalisation, downsizing and offshoring. Nor are we going to, in the long run, add value to our business by doing so.
I know that I run the risk of being called naïve here. But is chasing short-term share holder return really less naïve than building long-term structural value in your business? I think not.
We need to be thinking creatively, innovatively about ways in which we can bring new skills into our businesses, the ways in which we can train a future generation of workers and leaders to safeguard the long-term prosperity of our businesses, of our communities and of the economy as a whole.
That means investment, but it does not mean throwing cash away. Investment is about long-term value creation, which in turn provides long-term shareholder return and long-term security and prosperity for our existing and future workforces.
Think about the opportunities that exist, think about the creation of quality internships, think about taking advantage of apprenticeships, stop moaning about the lack of graduate skills and start thinking about what your business can do to train and develop the future generation. Think about taking a risk.
HR has to, HAS TO, take a lead on this. We have to be championing the needs of our businesses, being future focussed, being (dare I say it) strategic. We need to define the imperatives, formulate the convincing arguments and we need to be making them day in and day out. We are supremely placed to not only make the case, but to be the catalyst for economic regeneration.
Large, small, medium-sized, in the public, the private or the third sector. We can all play a role in this, we all need to play a role in this. Because if we don’t, then who will?
The opportunity is there, the incentive is there. The forward thinking, the innovative, the true leaders know and understand this. Success is part risk, part planning. Put the plans in place and take the risk. Step up and take the challenge.
Whether you agree or disagree, I’ll be expanding on this argument, along with Alison Chisnell Group HR Director at Informa Business Information at #TruLondon in February. We’d welcome your contribution here or there.