At a time when skilled workers are a precious commodity, keeping existing employees engaged and satisfied at work is a key focus for businesses across the globe. And yet, many organisations are finding themselves increasingly faced with a workforce that is both disengaged and unhappy with their work. So how can businesses avoid falling victim to these trends, and ensure their workforce remains engaged and retained? Here, we look at three common challenges and the ways in which your business could begin addressing them:

As 40% of workers globally say they could leave their jobs in the next three to six months, and spiraling energy costs take their toll on businesses’ bottom lines, implementing and refining a workforce career management strategy will be crucial to retaining and developing the talent needed to achieve sustained success.

Leading an organisation is particularly complex in today’s ever-changing environment, with a multitude of often-conflicting challenges. Firstly, a lack of succession planning is hindering businesses’ ability to maintain long-term success, as just 1 in 3 organisations have a formalised plan for succession in place, while 39% of HR professionals agree that inadequate talent pipelines, among other factors, have left their leadership population unable to respond to changing business needs.

As the cost of living crisis rages on, businesses and employees alike are feeling the impact. Spiralling energy costs and supply chain pressures mean organisations are facing operational challenges, while a growing number of employees are having to seek extra work through the gig economy in order to manage rising inflation rates. And while redundancy rates fell to a record low between February and April this year, recent data suggests businesses are now beginning to feel the strain and are looking for ways to save costs.

It’s no secret that coaching is a key enabler for employee growth and enhanced business performance, with 2 in 3 coachees citing improved job performance as a result of their support. 27% of employees are demanding greater investment in their training and development, and businesses are now able to be more responsive to these expectations thanks to the democratisation of coaching through digital platforms such as RightCoach.

Employees are demanding greater flexibility in where and how they work, organisations are having to juggle the differing expectations of a multi-generational workforce, and all while one in five employees plan to switch roles in the next 12 months. So how can business leaders invest in their workforce to better engage and retain key talent, and minimise the impact of this changed world of work?

As organisations continue seeking solutions to the ongoing talent shortage, the need to successfully manage a multi-generational workforce becomes ever more important. Many businesses have lost older, more experienced employees during the pandemic, often missing out on the transfer of vital knowledge to others within the organisation.

A privilege historically only available to the elite, coaching is quickly becoming a career tool for employees at all levels of business. In light of the Covid-19 pandemic and changing employee expectations, coaching is now more accessible than ever through digital platforms, and acts as a key driver of sustained business success and talent retention.

Talent scarcity remains a major challenge for businesses across all sectors, as 69% of employers cannot find the skills they need. And with an ever-changing working landscape, the skills and qualities needed within a workforce continue to change as well. Many organisations are focusing on these new and emerging skills when hiring new employees, and are naturally looking at younger generations to fill these gaps.