Are you still using the same strategies in a bid to secure skills? 

We’re still very much in the midst of a skills shortage, contrary to some of the layoffs and hiring freezes we’re seeing in some industries.  
The evolution of technology and changing customer demands are redefining the skills that organisations require at breakneck speed. Existing skills mismatches, inadequate training and seismic demographic shifts mean that many organisations don’t have the right people in place to tackle these changing priorities. 
But identifying the skills to power success amid shortening shelf lives and evolving strategic ambitions is just the first piece of an increasingly complex talent management puzzle. 
Competition is fierce and traditional sourcing methods no longer meet the requirements needed to plug business-critical gaps. Organisations will need to be agile, exploring alternative strategies and redefining the composition of their workforce. 
As we look ahead, we explore some of the key challenges that organisations will need to tackle in order to find the right fit, with insights from leading experts
across the globe.

Building agile teams will require an agile strategy

The social, economic and geopolitical turbulence of the past few years has shown the importance of remaining agile. Fast-moving, flexible teams can identify, adjust and respond to changing market trends or customer needs at a pace that will outstrip their closest competitors. 
No single sourcing strategy will be enough to build and retain tomorrow’s agile workforce. 
Organisations will need to deploy a multi-pronged strategy that identifies and leverages the appropriate talent network based on specific skills needs, rather than relying on the traditional and exhausted methods. A data-driven mix that could include new hires, non-permanent project staff and the internal redistribution of expertise will enable organisations to build cross-functional teams aligned to strategic challenges rather than rigid business silos. 
And as the capabilities of technologies such as AI advance, talent management teams will need to explore not just ‘who’, but ‘how’ when considering how to drive efficiencies in process, while retaining the ‘human touch’ across service and product delivery.

The candidate is a vital customer

In a talent scarce market, organisations need to approach their candidate experience with the same intention as they approach their customer journey. 
Every empty seat equates to missed deadlines, lost opportunities for growth and a possible reduction in revenue. 
But as organisations battle it out to become the employer of choice, companies are continuing to rely on traditional levers, such as compensation rates and job titles. While a few employers successfully entice a small proportion of workers from their rivals in the short-term, an overreliance on financial compensation is prompting wage escalation while failing to solve ‘underlying structural imbalances’. 
Instead, organisations must take a deep dive into their Employer Value Proposition, ensuring it can flex to the changing demands of a more complex workforce dynamic. 
Global Head of Growth for Enterprise Solutions at Hays, David Spence, adds: 
“In order to stay ahead of the competition and ensure you can engage the skills you need today, tomorrow and in the future, you need to champion the candidate’s perspective. 
Walk the proverbial mile in their shoes and question your processes along the way: 
  • Do you offer an engaging interview process with quick decision-making? 
  • Do you offer the benefits, flexibility and career progression that candidates are seeking?
Everyone talks about the importance of customer centricity and in the ever-evolving world of work, we need recognise that the candidate is the customer.”

Leading the way 

A focus on finding the right fit has prompted organisations to rethink their location strategies. With workers craving flexibility, Talent Platforms and Cross Border operations have surged in popularity. 
Leveraging these growing populations will require leaders to oversee multi-locational teams. Managers will need to span cross-functional teams, enabling communication and collaboration across cultures, time zones and technologies. 
The challenge facing organisations is that this new style of management is ‘not easily developed with conventional management or leadership training’. 
As organisations broaden the scope of their sourcing channels, they must also explore the value added by diverse talent, empowered by more flexible working arrangements. 
Candidates are no longer limited by caring responsibilities or a lack of mobility. Talent platforms in particular have granted a sense of agency to anyone with an internet connection, unlocking access to a wealth of previously untapped talent. 
However, this will create further complexities, as managers will need to be acutely aware of the additional barriers facing these individuals. Organisations will need to understand, define and implement methods of continuous education to ensure tomorrow’s leaders are always equipped with the abilities to leverage expertise across a more diverse mix of workers and sourcing strategies, or risk alienating the expertise they desperately need.

Finding tomorrow’s talent, together

We understand the opportunity the right person, in the right role, equipped with the right technologies and processes to foster innovation, creativity and growth. 
But finding the right fit will mean navigating alternative or emerging sourcing channels, restructuring an EVP to accommodate shifting priorities and ensuring leaders can bring out the best in diverse, digitally connected teams. 
Your success is at the heart of our business. To discuss how Hays can help solve the workforce challenges you face, get in touch today.

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