With a decreasing talent pool, companies are looking for individuals and talents outside of their sector, among the retired workforce, and in other non-traditional venues – a trend that might continue in the next year. According to recent studies by Korn Ferry, employee churn, the growth of the career nomad, and a stronger focus on internal mobility are some of the Top Talent Trends for 2022.
Based on feedback from organizational, talent, and leadership experts from around the world, the research has highlighted 10 critical global talent trends to watch.
Global Talent Trends
Listed below are some top trends in talent management globally.
The Great Resignation is only going to amplify
Companies have been struggling with a shrinking talent pool for some time, but the global pandemic has accelerated this talent shortage — in fact, according to a recent Korn Ferry survey, 55 percent of professionals believe employee turnover will increase in 2022, and 31% say they would leave their job if they did not have another lined up.
Companies are raising beginning salaries, providing more long-term incentives and perks, and giving sign-on bonuses, even for less-senior workers, to address this issue.
The rise of the career nomad
The pandemic has also prompted a shift in the way we work, with people being able to work from anywhere, at any time.
As a result, 32% of professionals believe they will not return to work full-time as a result. Similarly, 36% of professionals say they expect to shift jobs in the near future as a result of the epidemic forcing them to reconsider their goals and the changes they require.
Re-establishing connections with colleagues
Leaders must actively create possibilities for stronger relationships inside their organizations in 2022, or risk employees becoming more isolated. In order for employees to feel more connected, companies must foster a culture of listening, understanding, and inspiration.
This is particularly relevant considering how the epidemic has prompted a shift from hour-long in-person meetings to half-hour Zoom sessions.
The people you have will become the people you need
A talent scarcity, in connection to the first trend, indicates that companies will begin to focus more on internal mobility, as well as reskilling and upskilling current workers, in order to avoid attrition and fill specialist posts.
Some firms are doubling down on existing training, development, coaching, and mentorship programs, as well as generating more on-the-job learning opportunities, to fulfill their reskilling goals, while others are investing in new technology to assist progress careers.
Moving from disruption to reinvention
The pandemic has mostly revealed how organizations changed what they did and how they did it because they had to, rather than because they wanted to.
Further, if businesses can capitalize on their employees’ agility and adaptability, they may take advantage of the potential to reinvent themselves for a new era, such as finding answers to shortages, climate change, digital acceleration, supply chain challenges, and ever-changing customer expectations.
Walking the talk in sustainability
ESG and environmental concerns are already firmly on the boardroom agenda, and organizations will face further pressure to respond in 2022.
More and more businesses are realizing that science alone will not bring them to where they need to go. Changes in mentality and skill sets are required for meaningful transformation.
Employee wellbeing takes center stage
Employees are becoming more burnt out as a result of an excess of virtual meetings, a lack of connection with coworkers, a lack of separation between work and home, and a slew of personal issues arising from the pandemic and social upheaval.
Beyond mental health programs or fitness-related bonuses, employers are increasingly prioritizing employee well-being. Culture transformation is necessary on a larger scale. Leaders must have the ability to communicate mental and personal health with their teams, which is an area of leadership development that few have concentrated on previously.
Wider representation of talent
Organizations are easing off on employment standards, such as four-year college degrees and set years of previous experience, as well as CV gaps, to combat the approaching aforementioned talent shortage. Employers are looking outside of their sector, among the retired workforce, and in other unconventional locations to locate the people and skills they require.
Employers are accepting more accountability
Leaders recognize that as remote and hybrid working grow increasingly common, more time should be spent developing new working cultures to fit. There will almost certainly be regular check-ins and ongoing feedback, which will favor agile collaborative personnel.
Increasing responsibility is also affecting the C-suite. Leaders of corporations are under growing pressure to employ and develop individuals from underrepresented groups, pay workers fairly, and take positions on social issues.
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