The great resignation has sparked a great realisation among employers across the globe. Business leaders are now acknowledging that they need to meet new and changing employee expectations in order to overcome the talent crisis. And failure to do so will only result in greater exodus of their workforce.
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The COVID-19 pandemic has been an event of unprecedented proportions, with the world experiencing a complete collapse of supply chains, businesses, and industries, as social distancing norms and global lockdowns were implemented around the globe. Healthcare systems collapsed, unemployment increased, and cashflows disappeared – all in the span of a single year.
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Differentiating and diversifying workforce strategies to access the right combination of skills, workforce mix, and labour markets has never been more important and challenging. In our previous article, Total Workforce Index Addresses Organisational Challenges Most Impacted by Lack of Growth Talent, we examined the business challenges most impacted by growth talent and how to leverage market intelligence tools like the Total Workforce IndexTM (TWI) to stay competitive.
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What started out of necessity during the pandemic, with people around the world demanding better working conditions, more health and safety protections, increased compensation (especially for essential work under incredibly stressful times), and greater work-life balance, has rapidly become the new normal.
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Throughout 2020 and 2021 we talked about how the challenges that existed before the pandemic are now exposed in the full light of day: workers want to work for organisations that give them a strong sense of purpose, as well as upskilling and reskilling opportunities. And the key to success for organisations is mastering talent sustainability.
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2022 has the potential to be one of the most transformative years in recent history. From workers taking more control of their professional lives, to the seemingly never-ending struggle of employers to recruit and retain talent, to the rapid acceleration of digital adoption, to businesses realising they need to become more sophisticated – several trends have emerged that will impact organisations of every size and the people who work for them.
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