How to keep your top tax talent

Tax leaders - don’t lose your stars. Here’s how to keep them.

All leaders know that a great team with a diverse range of talents is a solid blueprint to hit business objectives. But having highly talented people isn’t enough to keep hitting those objectives. The days of training staff once-a-year is over. With the current pace of change, employers need to develop staff in critical roles on a real-time basis and ensure that a sustainable pipeline of talent is available to fill key roles over time. 

According to LinkedIn’s 2018 Workplace Learning Report, which surveyed approximately 4,000 professionals around the world,  90% of executives agree that learning and development (L&D) is a necessary benefit to a company.

But filling a talent pipeline isn’t the only benefit of training. 94% of employees say that they would stay at a company longer if it invested in their career development.

The report found that softening the impact of automation through training for soft skills, getting employees to make time for learning, and the need for manager involvement to increase employee engagement with learning, were some key trends to workplace development.

Overcoming the hurdles of automation

According to LinkedIn’s report, workplace learning can soften the impact of automation. In the study, the number one priority for talent development in 2018 is training for soft skills. This is applicable to all professions, including the tax profession.

Tax practitioners are well aware that digitisation and automation are significantly changing the profession, with low-level tax work becoming increasingly outsourced to technology. Maintaining technical fluency across roles will be critical, but the current times demand a human touch. Without great customer service, leadership, and creative problem-solving, developing the best tax advice would not be achievable. And workplace learning is a great way to help employees reach their potential.

No time to learn

Getting employees to make time for learning was highlighted as a major challenge facing talent development in 2018. Clearly, if employees are not taking the time to learn, then there is no way that L&D programs can be successful.

If employees can’t find the time to learn, leaders need to level the playing field. The study suggests that organisations need to do this on platforms employees are already using with messages that align to their on-the-job needs and professional aspirations.

This may mean more online learning solutions to meet the needs of an increasingly diverse, multi-generational workforce. Or you can study intensively, which is perfect for those that do not necessarily have the luxury of time.

Retaining strong performers

LinkedIn’s study found that employees care about their career development more than ever before. With 85% of employees not engaged or actively disengaged at work, organisations need to increase employee engagement by providing the learning experiences employees want—when and where they want them.

However, a manager’s involvement is also a critical component to increasing employee engagement with learning. 56% of employees say that they would spend more time learning if their manager directed them to complete a specific course in order to gain or improve their skills.

The message is clear – if you don’t want to lose your star players, you need to invest in their L&D.

Invest in your team today by finding out more about our market-leading education. Speak to us on 1300 829 338 to discuss corporate bookings.


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