It’s clear that the Coronavirus pandemic, or COVID-19, is going to be around for a while and is already changing pretty much everything. It’s affecting not only how work gets done, but it’s also profoundly affecting your employees on a deeply personal level.It’s critical that your teams feel safe, valued, and connected at such a critical time. So how can HR leaders help their business thrive?
There are good reasons that most organizations have struggled to help employees see their development and progression opportunities. Too many people, too many jobs, not enough HR team members. And so, most organizations either focus on high potential employees, employees from new acquisitions or groups in crisis.
The shape and nature of work is changing, forcing employers to re-examine the role of humans in the workforce. By 2030, it is predicted that as many as 30% of today’s jobs will be lost to automation.
As businesses begin to evaluate the impact of this disruption, one thing is clear. Everything we have become familiar with relating to the workplace is undergoing a shift and talent management cannot continue to live within its own silo. Your employees must become the focal point for corporate strategies in 2020 if businesses are to effectively respond to such radical change.
As the ‘future of work’ begins to assume a more defined shape, the majority of employers are leaning towards training of their existing talent, rather than hiring, but skills development is not moving fast enough to keep up with demand. Ongoing upskilling and reskilling can help to offset the impact on your workforce from these fundamental changes. Understanding which training methods are the most effective for new skills acquisition is therefore paramount.
The 2018 Future of Jobs Report from the World Economic Forum predicts that 75 million jobs will be displaced by 2022 in 20 major economies. At the same time, 133 million new roles are expected to be created, driven by advances in technology and continuous digital transformation.
As demand for new capabilities gathers pace, reskilling and upskilling can enable your organization to develop the skills needed to remain competitive.
Talent mobility was identified as a key emerging trend in Deloitte’s 2019 Human Capital Trends Survey and has already been embraced by best-in-class, high performance organizations who understand the value of developing a culture focused on their people. For companies new to talent mobility, it is rapidly becoming a priority for 2019 and beyond. But what is it and why is it so critical to your organization’s future success?
As an employer, do you really know what motivates your employees? What would help you to improve your staff retention levels and enable everyone in your organization to maximize their potential?
Millennials have grown up in a fast moving, ‘on-demand’ culture. Their expectations are high and they are impatient for success and accelerated career advancement. Moving up in their career is at the top of their agenda and it must be on yours too as their employer if you are to prevent them from moving on.
In 2018, workers left their jobs at the highest rate since 2001, a trend that is continuing in 2019. The latest figures from the Bureau of Labor Statistics show that quit rates are fairly consistent at 2.3% (or 3.5 million employees) each month. At the same time, new jobs are being added to the economy every month – 263,000 were recorded in April, exceeding all forecasts and making staff retention the focus for 2019. But as employers scramble to recruit new talent or simply hold on to the people they have, they are missing one vital piece of the jigsaw.
Employees don’t quit organizations, they quit managers. It’s a frequently made claim but one that today’s organizations cannot afford to ignore. Repeated studies show that poor management performance is a major reason people leave their jobs. In fact, employees who rate their line manager’s performance as poor are four times more likely to be job hunting – and 40% are likely to have interviewed for a new job in the last month.
Implementing successful talent retention strategies is a problem that most organizations are all too familiar with, but your leadership has a significant role to play.