In order for HR businesses to retain talented employees, they will need to plough more resources into training.
With the jobs landscape seemingly on the upturn and the number of opportunities increasing, it is time for companies to improve the services they offer existing workers, and this means providing first-class career development and workplace education.
According to a new survey conducted by recruitment specialist Reed, 44 per cent of HR professionals are setting their sights on a new job in 2014, which could be bad news for their employers.
The firm's 2014 Salary and Market Insight report has revealed that nearly two-thirds (61 per cent) of bosses are concerned they will lose talented staff this year, but this can be avoided with greater investment in business training.
Tom Lovell, group managing director at Reed, noted that as the economy goes from strength to strength and job vacancies continue to open up, the competition for quality candidates will increase and companies cannot afford to lose out.
"Businesses aren’t investing in their workforce through pay or their benefits, such as training, and this will impact on the overall satisfaction rating for their workforce," he added.
The expert said that employers must invest in both their brand reputation and talent management to attract people with the right skillsets for the job and hold on to the most valuable members of staff.
Unfortunately, the survey discovered that the number of employees receiving training, pay rises, social events and bonuses were all down from the year before, highlighting the areas in which change is needed most.
Only 38 per cent of companies questioned were found to have a talent strategy in place and none had changed their approach to incentives.
According to Theresa Henry, UK HR director at Microsoft, technology might be the way forward, and she noted that young, talented individuals are likely to be drawn to employers that cater to their digital needs and capabilities.