Finding and keeping top talent has never been easy. A continued tightening labour market, new standards of workplace culture, and rapid technological advancement all makes hiring, developing, and retaining top talent even more complex for HR and business leaders. It’s evident that developing modern talent strategies effective at addressing these complexities is mission-critical for businesses to survive and thrive.
After gathering insights from HR and business leaders across all regions, we highlight some of the key talent trends and challenges that employers are facing right now and provide some useful tips to help address these.
Reimagining Culture for Hybrid Work is Essential
The sudden transition to remote work at the start of the pandemic quickly proved that employee productivity is the same while working outside the office. And while remote work offers a plethora of benefits for employees, most organisations—and many engaged employees—are not quite ready to let go of the office altogether, leading to a rise in the hybrid working model. The year so far has put this model to the test. If hybrid is going to become the new normal, then HR and business leaders must be cognizant of one thing above all: culture. If hybrid is going to become the new normal, then HR and business leaders must be prepared to build towards that model.
Internal Mobility and Alumni
The Great Resignation has seen employee attrition levels spike, leaving big talent gaps in the organisational structure, often with massive associated costs. Now should be the time that organisations start looking inward to cap this high-cost cycle, rather than looking externally. To fill vacant positions, organisations should put more focus on internal talent mobility, providing current employees with the development, training, and skills needed to move either laterally or into more senior appointments. Forward thinking employers have also been putting a stronger emphasis on how they engage with their alumni/ex-employees, with many positive stories of ex-employees returning to the organisation when they realise that the ‘grass wasn’t always greener’ on the other side (affectionally known as Boomerang Employees). How we look after potential, current, and ex-employees is crucial to employer value proposition and employee branding efforts.
Talent Acquisition and Candidate Experience
Traditional methods of recruiting no longer suffice. Whether the Great Resignation continues or not, employees will likely continue to have the upper hand over employers for some time. Workers want to feel valued by their employers, and multiple rounds of interviews for a position with the same benefits at another company will no longer cut it. Interview processes need to be consolidated with candidate experience at the forefront, while not compromising on a thorough assessment.
Whilst salary will continue to be an important factor, it certainly won’t be the only aspect a potential future employee will take into consideration. Company culture, employee experience, DE&I, corporate social responsibility, and flexibility are becoming more important than ever, and potential employees will no longer settle for any less.
Authentic and Holistic Approach to Diversity, Equity & Inclusion
Along with expectations of greater empathy and a more human work environment, there is increasing pressure to improve equity and inclusion within organisations. Diversifying leadership across all functions and establishing accountability for DEI in leaders continue to be top priorities. Less reactivity and more proactivity.
Organisations Must Care for their People and the Community
Employees have always wanted to be valued and appreciated for the work they do—it’s human nature after all. What’s different in 2022 is that employees are more willing than ever to act on this desire. Organisations looking to prevent more turnover are proactively building a culture of authentic gratitude that employees want to be a part of.
In the same vein, the pandemic has shown the importance of mental well-being, both professionally and personally. Valuing employees has nothing to do with cupcake parties, and everything to do with work-life balance and ensuring people have what they need to do their best work.
Perhaps heightened by the ongoing woes of the pandemic and political instability, this year corporate social responsibility comes to the forefront of the minds of employers, employees, and consumers.
In Summary
Regardless of the size and scale of your organisation, all business and HR leaders face the same talent challenges. These Five Talent Tips for Turbulent Times are cost effective, tried and tested, and tackle the core issues head-on.
