Many companies are moving forward with urgency to deal with a talent crisis. Nearly every executive is talking about being an agile organization and how talent management is the most critical factor on their future success.
Some of the biggest challenges to consider?
- There are fewer candidates per open requisition.
- Companies have had to be less selective in their hiring.
- Skills gaps exist between what positions companies need to fill and the skills candidates have to offer.
- The process to secure the right talent is taking longer.
- Companies are expanding their search areas to find the talent they need.
- In some cases, jobs are moving to employees rather than the other way around.
- Companies are accepting increasing numbers of remote workers to fill talent gaps.
- Some companies are turning to the gig economy to fill short-term requirements.
- Companies are having to put more effort towards training and re-skilling people.
How is this impacting mobility programs? Both domestically and globally, talent is the main driver of execution and innovation. While most economies are currently doing well, there is a new “talent atmosphere” where key talent is more difficult to attract and retain than ever before. Every aspect of the employee experience is under review, and that includes looking at all the experiences offered through global mobility programs. Companies are re-evaluating how their relocation and assignment programs may provide them an advantage in attracting, developing and retaining employees.
Domestically and internationally, we are seeing more mobility programs partnering with recruiting and talent management to develop or enhance the intern experience, improve new hire relocation process and look at how to provide more choice, options, and flexibility for benefits and processes to deal with the unique needs of a multi-generational workforce. Companies need a talent plan that takes into account all worker options from Gen Z and up and are going to have to explore how best to accommodate their mobility needs.
Global mobility is more connected to talent management than ever before, so staying "in the know" on what talent trends are being seen is a good way to consider how the talent mobility programs can be a strategic differentiator for your company.
According to this article, these five trends are hot right now:
- Upskilling remains a priority.
- Hiring for potential rather than experience.
- Recognizing talent as consumers.
- Wages, benefits and flexibility will be key.
- Technology will lead the way.
"Brian Kropp, group vice president of the HR practice at Gartner shared that the Q2 2018 Global Talent Monitor reported that only around 18% of employees in the U.S. report high levels of going above and beyond at work while only 40% report high intent to stay with their current employer. His advice was for employers to focus on giving employees a greater value proposition. "To maximize employee engagement, business leaders should focus on improving their employee value proposition (EVP) to ensure they are differentiating from competitors and appealing to issues that matter most to employees.""
Companies should consider how the use of talent mobility can add to the EVP within their culture!
"From a talent acquisition and retention standpoint," Scott Waletzke, vice president of enterprise solutions at Adecco USA writes to HR Dive, "employers should look out for shifts in the labor market driven by an increased focus on changes in the economy and in an unpredictable political climate." These changes may have direct or indirect impact on various components of the labor force.