How Hire Train Deploy Creates Economic Benefit

In a rapidly evolving and highly competitive economy, businesses continuously seek innovative ways to secure a competitive edge and enhance their business processes.

Hire Train Deploy (HTD) is a strategy that can benefit not only businesses but also the economy at large. There is much more to an emerging talent programme than just filling a job vacancy. This article will cover how it positively transforms the job market, helps propel business growth, and provides knock-on benefits for the whole economy.

Skilled Workforce

Employees who have completed a hire train deploy programme emerge with significantly enhanced skills, not only specific to an industry but also universally in communication, teamwork, innovation, and productivity.

Employees

HTD companies such as mthree help to create a highly skilled workforce. After completion, candidates will have the following enhanced capabilities:

Industry-specific training applicable to the new role.
On-the-job training experience.
Exposure to the latest industry tools, software and trends.
Certification or new qualifications that are industry-recognised.
Developed soft skills.

This new skill set and exposure create an economy with a far more skilled and adaptable workforce.

Improved Productivity

A highly skilled workforce will lead to a more efficient and productive economy and contribute to productivity in many ways:

Increased efficiency is due to a better understanding of the tasks required and possessing the skills needed to complete the job effectively.
Better problem-solving capabilities due to a superior understanding of the role and processes.
Improved quality of work due to enhanced understanding and skills.
Employees who have been through a graduate hire programme stay longer with the business, reducing the resources required to find replacements.
A skilled workforce is proven to increase GDP.
Emerging talent programmes lead to increased efficiency and competitiveness in the economy.
A skilled workforce will attract investment into a country, helping to boost productivity.
Creating a workforce with relevant skills helps the economy by filling crucial roles more quickly.

Reduced Costs

Economies that invest in HTD can help reduce business and economic costs. Some of the positive knock-on effects that come from a highly skilled workforce are outlined below:

Business Cost Reductions

Hiring new graduates who have been through an HTD programme saves onboarding costs for the company as they are already fully trained for the role.
In addition, the business will save money by not needing to train them internally for the job.
There is little to no learning curve. The new employee is ready for work and can start contributing immediately.
Graduates who have been through an emerging talent programme are less likely to leave, reducing the costs of finding a replacement.

Economic Cost Reductions

By upskilling the workforce, they are made more employable and less likely to be unemployed, lowering welfare costs.
Higher employment levels will increase tax revenue for the economy.
Hire train deploy creates skilled graduates who are innovative and often create improved productivity.
Education is taken care of in the private sector, reducing educational costs to the state.

Addresses Skills Shortages

By addressing current skill shortages and anticipating future ones, HTD can help mitigate skills shortages and keep businesses fully operational. At mthree, we have worked with numerous financial and tech sectors to help address skills shortages. These shortages can be due to a large new project starting, underrepresented groups, or a significant increase in demand. Graduate hire programmes must align their training programmes with current and future market needs.

Some of the ways a recruit train deploy companies can help skills shortages include:

Creating training programmes that target skill shortages.
Intensify training to deploy candidates quicker.
Access to talent pool throughout the world.
With active industry partnerships, HTD companies can better understand market needs.
Training courses can be changed to represent market needs quickly.
By continuously analysing markets, HTD can often be one step ahead of the game, foreseeing future skills shortages. This also helps to align workforce skills with industry needs.
Encourages continued training throughout careers.

Social Mobility Benefits

Hire Train Deploy can open opportunities to a far more diverse background, creating a fairer representation of the population. Many strategies can be included within the training programme and selection process to enforce this goal. Techniques that can be employed include:

Targeted recruitment drives are in areas and demographics that are underrepresented.
Creating HTD programmes specifically aimed at specific communities.
Focus on practical application over educational qualifications. Often, individuals have not had the opportunity to acquire the necessary qualifications.
Collaboration with educational institutions that have a higher percentage of minorities.

Reducing Income Inequality

Again, the HTD model can help alleviate income inequality, positively impacting areas of society that are often excluded.

Employment opportunities are available to groups that would otherwise not have access to these positions.
Placements into jobs immediately after the programme ends.
Clear pathways provide progression opportunities that are often not possible.
Candidates who have benefited from an HTD programme encourage others in their situation to follow.

Conclusion

Hire Train Deploy is a win-win situation where businesses excel with a highly skilled and prepared workforce, employees gain industry skills and great employment opportunities, and the economy benefits from a more efficient, productive, and dynamic workforce. For more information on how we can assist you, please contact mthree.