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Creating a competitive advantage

Use your people development strategy to run a different race, advises Andrew Hedley

28 June 2016

There is an apocryphal conversation between a forward-thinking managing partner and a more myopic colleague. The subject of people development has been raised. 'What about if we train our people and they leave?' asks the partner. 'What happens if we don't and they stay?' replies the managing partner.

In my previous article on this subject (SJ 160/19), we saw that learning and development is key to motivation and retention. This has always been the case, but firms are also grappling with societal shifts which bring this issue into sharper relief.

The emergence of millennials into the workplace is seen by some as a disruptive force which will have a negative impact on firms. The more visionary management teams see it rather as an opportunity to reshape their employee proposition, reposition their brand, and ensure their firm is fit for the future.

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