The monthly SmartRegion report contains findings from the Growth Hub’s business engagements as well as from CWLEP, Warwickshire County Council, Coventry City Council, and other business support organisations.
The Growth Hub brought together a range of businesses from the north of the county to look at ways to address skills and recruitment issues as well as highlight the available support for their post-pandemic recovery and growth.
There was also a mix of presentations from EPIC, CW Employment Solutions, Warwickshire Skills Hub, and Coventry University Talent Teams about the business support available to help them.
Companies talked about how they have adapted their recruitment strategies, such as by investing in apprentices, offering new incentives including more flexible working arrangements and the introduction of annual bonuses as well as pay increases and joining bonuses.
Others had hired a head-hunter, cold-called people to signpost their available roles, or started referral schemes to recruit staff.
Mental health was discussed with the growing recognition that companies need to offer genuine support for staff mental health and wellbeing with many employers having assigned mental health first-aiders and offering counselling vouchers.
Craig Humphrey, Managing Director of the CWLEP Growth Hub, said the roundtable event gave businesses from a wide range of sectors and sizes an opportunity to share their thoughts and concerns 'from the front-line' about how they are being affected as well as exploring ideas around what else can be done to help them overcome their challenges.
He said: “Over the last 12 months, businesses across Coventry and Warwickshire have raised concerns about staff shortages, skills gaps, and recruitment difficulties.
“There was a recognition of the need for more work to be done with sector bodies and employers to tackle labour shortages, raise awareness of the range of career progression opportunities within the full range of sectors in Coventry and Warwickshire’s economy, develop more flexible approaches to jobs and work, and shape more lifelong upskilling and re-skilling opportunities.
“The shift in the recruitment landscape and the current tight labour market has led to an increasing recognition that companies need to offer more than just a competitive salary to entice new talent and the additional benefits can be what differentiates the likelihood of recruiting new people.
“This is particularly true amongst the ‘next generation’ of the labour market. Companies recognised that they need to better communicate their values and work culture as important aspects of attracting staff.
“It was a really interesting event, and it gave everyone who attended plenty of food for thought and for the organisations who attended an important insight to shape the services they offer.
“Similar future events elsewhere around Coventry and Warwickshire will hopefully generate further insights around a range of topics and themes very relevant to our local businesses.”
Pictured: Craig Humphrey, Managing Director of the CWLEP Growth Hub
