The talent market is more competitive than ever, from the rise of competitive wages to what industry specialists are calling “the great reshuffle” in which one in four candidates is looking to change jobs. So, how does this affect you? Without surprise, this is forcing companies to re-evaluate their strategies to engage, attract and retain their best talent. Candidates have more options than ever, so to compete for the best talent companies need to consider how the worker experience impacts attraction and retention. From the perks and benefits, to pay and the overall culture they offer their employees – these are all things that candidates are going to consider when choosing who to work for. In order to stay competitive within your industry, you should consider holistic workforce trends that are more focused on employee well-being or thinking outside of the box.
Workforce Trends to Consider
Work/Life Balance and Job Flexibility
Anyone who has spent time online has seen a poll or two on the “return to work” or the shift from work from home to work in the office. Candidates in all industries are saying they want a job that offers them more “balance” in their work, which usually includes where they get their work done. Candidates are looking for jobs that won’t keep them working all night/weekend or jobs that offer flexibility around their children’s care schedules. The pandemic has shifted worker's perspectives. Having more time to spend with family or friends, or to relax and focus on mental health are at the forefront of their priorities. While not all of these will work for every industry or organization, there are a few considerations for companies looking to appeal to the new expectations candidates have regarding their work environment. A few examples include hybrid schedules, 4 day work weeks, flexible working hours, the option for leaves/sabbaticals and job sharing.
Learn more about workforce trends in our new e-book: 5 Workforce Trends to Attract and Retain Talent
The Re-Evaluation of a Qualified Candidate
With a talent shortage upon us and a shift in the workforce, it’s important to re-evaluate what you would consider a qualified candidate, whether that’s someone you're considering for a promotion or an external candidate. Companies that find a way for internal candidate mobility are going to win the talent war, there’s no doubt. From upskilling to upending qualification altogether, there’s no shortage of ways companies need to rethink how they fill their openings. This should lead to an overall trend of more talent being promoted from within. There's many benefits to this including, cost and time savings, improved retention and less risk. If you decide to hire externally, reconsider what you truly need in a qualified candidate. A global organization recently announced that they were eliminating a bachelor’s degree as a requirement for most of their roles that required one previously in order to open up the talent pool. While eliminating education requirements is not a fit for every organization, there’s a lesson here. Thinking outside the box for ways to open up the talent pool are needed now more than ever. Not holding every quality candidate to perfect standards can actually help you find someone who may be a better fit for your organization culturally or in work ethic than someone who checks all of the boxes on paper.
Interested in learning about more workforce trends and reading more in depth about the two mentioned above? Read DZConneX’s new e-book – 5 Workforce Trends to Attract and Retain Talent.