CEO Insights - Why Developing Talent from Within Is the Smartest Investment We Can Make
Donna Richards | CEO
At Carpenters Group, our people are the foundation of every success we achieve. From the way we support customers to the way we innovate and grow, our progress is powered by colleagues who bring their skills and commitment and to work every day.
As we look ahead, one truth has never been clearer: businesses that prioritise developing talent from within will be the ones that thrive.
For us, this is a choice we make every day. We invest in people, pathways and potential because internal growth delivers stronger retention, deeper engagement and better long-term performance. And the data overwhelmingly backs this up.
Internal Mobility is a Proven Advantage for UK Employers
Internal development is one of the most effective strategies for retaining great people. In the UK, internal mobility has risen by 3% year on year, showing a clear shift toward employers growing their own talent pipelines. Even more compelling, LinkedIn’s UK Talent Trends 2024 report showed that companies prioritising internal mobility see 53% longer employee tenures, while employees who move internally are 40% more likely to stay for at least three years.
Those numbers represent stability, knowledge continuity and a stronger, more committed workforce. In other words, the very things that keep customers well served and businesses resilient.
The Real Costs of External Hiring
The UK has some of the most detailed recruitment cost data anywhere in Europe and it paints a stark picture. The average cost of hiring a single employee in the UK is said to be over £600 rising to way beyond that once you consider labour costs and productivity loss.
When viewed through a return on investment lens, developing internal talent is the commercially intelligent choice.
Why Growing Talent Matters More Than Ever
The UK is facing a significant skills gap. There is currently a shortfall of 2.5 million highly skilled workers nationwide, creating intense competition for talent and driving up recruitment costs. This shortage is costing UK businesses billions per year, as organisations pay out for recruitment fees, increased salaries and temporary cover.
At the Destination Insurance event, run by The Insurance Times earlier this year, it was clear that the insurance profession is feeling this pinch acutely and that much needs to be done to attract and retain the best people.
A significant part of this solution is clear to me. We must build skills from within and invest in the people already at the heart of our organisations.
At Carpenters Group, this is exactly what we do.
Creating Accessible Pathways and Genuine Social Mobility
One of the things I’m most proud of is Carpenters’ unwavering commitment to creating accessible, meaningful routes into the legal and insurance professions. Our Legal Academy opens the door to structured, practical careers for people who may not have considered - let alone accessed - professional opportunities in our sector. Alongside this, we offer apprenticeships, CILEX pathways and multiple non-traditional routes that widen access and support genuine social mobility.
This matters deeply and very personally to me. I didn’t go to university. Instead I did foundation course at Liverpool Poly and I was working and training, much like today’s apprenticeships. What I had was a willingness to learn, determination and people who gave me a chance.
It’s why I firmly believe that potential can come from anywhere and with the right support, people can achieve extraordinary things
We see it every day at Carpenters Group. Colleagues who joined us young, nervous or unsure, now progressing into senior roles; apprentices who have become specialists; and people from diverse backgrounds who shine when given access to training, encouragement and clear career pathways.
Internal Talent Development Makes Us Stronger
The UK data is compelling, but the human outcomes are even more powerful. When we invest in our people:
- We reduce recruitment costs and speed up time to productivity, because internal hires already understand our culture and systems.
- We strengthen loyalty and morale, because colleagues can see that hard work leads to real opportunity.
- We build a future ready workforce, one that is adaptable, skilled and aligned with our values.
Growing our own builds a stronger culture, a more stable workforce and a business that people want to stay with for the long term.
The Power of Teamwork
Talent alone doesn’t make a great business, teams do. The strongest teams are built on trust and a shared belief that we rise by lifting others.
Teamwork could be a claims handler supporting a colleague through a complex case, a leader creating space for someone to grow, or departments coming together to solve challenges quickly and creatively, our people show up for each other.
Teamwork is the thread that connects our commitment to social mobility and our belief in creating long‑term careers. When people see that collaboration is valued and that success is shared, they are more willing to mentor others and pass on what they’ve learned. That generosity of spirit is what turns a workplace into a community, something I have always wanted to create.
This is personal too. Throughout my career, I’ve been supported by people who believed in me, encouraged me and gave me the courage to keep going. Most notably my father, who helped me believe in myself. I miss him every day but now I pass on his support to others, which is a privilege. I want every person at Carpenters Group to experience that same sense of backing. Because when our colleagues feel supported by one another, we create an environment where everyone has the confidence and energy to do their best work.
Carpenters Group will always be a place where people with the right values, attitude and ambition can build a career to be proud of.
I intend to continue proving that when you back people, they repay you with loyalty and brilliance.
