Businesses seeking to recover and grow post-Covid must invest in their marketing talent, or risk losing it. Moreover, with the right training, your marketing team will give your company a more motivated and effective team for now and the future.
In a recent survey by Hays, 42% of marketers say that they plan to make changes to their skills and prioritise upskilling. What's more, over 60% of marketers plan to change role this year, means there are certainly big challenges ahead for employers. Ok, so this is a general study and not mortgage market related. But surely there are similarities, especially after the last 18 months experiences.
The impact of not investing
The pandemic has given many people more time to think about themselves and reflect on what they want from their careers.
Indeed, the Chartered Institute of Marketing report a rise a rise in self-funded study which means that people are taking their development into their own hands and have their own career plans mapped out. Replacing staff is painful, time consuming and costly. Investing in your team has never been more essential. If you want to retain talented individuals, they need developing. The more they understand about the mortgage market the better. The more they keep theur marketing skills sharp, the better. The opportunity cost of not investing in your talent will be greater.
The productivity conundrum
The CIM’s Impact of Marketing 2 report found that 41% of senior marketing professionals have not participated in training over the last two years. Shocking.
It’s easy to dismiss the importance of qualifications and training when budgets are tight, and everyone had been busy. But we ignore development at our peril. Don’t wait to upskill
Virtual learning looks likely to stay. It has flourished during the pandemic, as has the growth of communities like ours, giving professionals the opportunity to connect with a wider network of peers and enjoy a more diverse range of learning experiences.
Think beyond online courses too. Mentoring has huge benefits. Really, everyone should have a mentor. Good marketing is going to be a key differentiator going forward. Get fresh ideas through upskilling. This goes beyond just marketing skills because the most effective marketers are strong in emotional intelligence.
So, is it time to invest in your marketing team? Absolutely. Invest in their marketing skills and invest in their soft skills too. Know their strenghts nd build on these. Do it.