𝗪𝗛𝗔𝗧 𝗧𝗢 𝗟𝗢𝗢𝗞 𝗙𝗢𝗥𝗪𝗔𝗥𝗗 𝗧𝗢 𝗜𝗡 𝟮𝟬𝟮𝟮

We are already well into 2022 and the good news is that the economy has picked up since the worst of the pandemic, with expected GDP and advertised jobs setting new records.

But there are new developments which make attracting and retaining talent increasingly challenging.  

• Accelerated business transformation combined with technological developments has led to a skills shortage is many fields. The pandemic has taken its toll on employees who have undertaken a widespread assessment about priorities.
•  Demographic change is leading to a tightening of the candidate pool, and a record number of employees, 40%, are in the process of quitting their jobs or thinking about doing so according to the latest international research by Microsoft. The term “burn out” is frequently used to cover a range of issues. Based on our experience, the key drivers are a combination of post-lockdown effects and difficulties for leadership to address the situation. For these reasons, attracting and retaining talent has become more complex.

Looking ahead, it is imperative to have upskilling and reskilling programmes in place. According to the World Economic Forum around 40% of workers will require reskilling of six months and CEOs expect that 94% of employees will pick up new skills on the job.

The Michael Page Candidate Pulse Studies show that opportunities for training and development are key factors in attracting candidates. Unfortunately, less than half of managers (39%) discuss training with their employees. As a result, they are potentially missing out or losing good candidates.

For employers this means having to embrace a different mindset and being open to fundamentally new ways of doing things. For example, embracing diversity in your recruitment programmes to access all available talent will be a necessity. More than ever, it is important to create an environment where employees feel they are listened to and there is acceptance about showing vulnerabilities – from both managers and employees. Employers need to find out why people want to leave by opening the conversation, employees are more likely to share their concerns, stay and jointly navigate a pathway to change. This is especially important for younger generations who might be intimidated about talking to their managers in this way. Offering different types of employment will also be critical for attracting and retaining talent. This includes full-time, part-time, interim and temporary work as well as remote, office and hybrid options. Indeed, employers can no longer expect their teams to be back in the office 100% of the time or they risk losing employees in search of more flexibility. Many employees have discovered that they are happy to work on an interim basis. This is a win-win situation enabling employers to quickly scale-up on major projects, with specific expertise and/ or cover long absences such as parental leave or sabbaticals.

Attracting and retaining talent will continue to be a challenge in 2022. However, implementing a diverse recruitment strategy, offering a flexible working environment, enabling employees to have authentic conversations about their career plans as well as upskilling and reskilling them, will help you win the war for talent.