HR TECHNOLOGY STEPHEN MOORE
Winning war for talent Events over the past 12 to 18 months have set in motion new workforce trends – many of them focused squarely on the employee. As the competition for talent heats up, employers will need to come to terms with the fact that the power dynamic has shifted in favour of the employee. Stephen Moore, from Ceridian, investigates further.
G
artner’s Global Talent Monitor found that 24 per cent of Australian employees are actively seeking other employment, in a trend LinkedIn has coined as “the great resignation”. In addition, 80 per cent of businesses have gone digital in the past two months, and 60 per cent of all jobs created have been casual. These changes were brought on by necessity and present an emerging need for greater workforce and employee flexibility. Coupled with a shrinking talent pool, these factors have led to a war for talent that has never been seen before. Where there are challenges, there are also opportunities. The global upheaval of what ‘work’ now means to everyone encourages
26
HUMAN RESOURCES
SPRING 2021
businesses to fundamentally rethink their employee engagement and retention strategies. How people work, where they work and how they work now must be redefined.
So, the question remains, how can employers win the war for talent?
It all starts with understanding what employees are prioritising and how the best companies can meet these demands. Ceridian’s 2021 Future of Work report surveyed 2,000 executive-level decision-makers worldwide and found an apparent disconnection between an employer’s priorities and what matters most to their people. While 72 per cent of executives see employee experience as a high priority or essential, only 24 per cent of employees strongly agree that their companies are agile in addressing employee issues. It’s clear that employees have defined expectations when it comes to the workplace, but employers aren’t ready to fully integrate an employeecentric experience. Now is the time to place employee experience at the heart of important business decisions. Businesses that choose smart technologies that mirror the consumer experience through real-time, on-demand access will have a competitive advantage. Further, data-rich insights will help
business leaders unearth workforce trends, helping them to stay one step ahead in today’s competitive talent market. These powerful digital experiences not only improve internal culture and empower workers but also positively impact on a company’s bottom line.
How people work, where they work and how they work now must be redefined. Responding to the changing world of work
Business leaders need to recognise that traditional means of recruitment and employee expectations are no longer relevant. Given collective workplace experiences over the past year, employees are beginning to reflect and re-evaluate their priorities and are now considering if the standard method of working, such as the ‘9 to 5’ grind, is still their preferred style of work. The status quo of employer exclusivity and loyalty also has new meaning: full-time workers are embracing the tenets of the gig economy and are seeking roles for shorter periods with multiple organisations. Positively, the research shows that New Zealand businesses are already adapting to this change.
