It is evident that if organizations are to attract a wealth of top talent, they must keep pace with the changing dynamics of employer-employee relations and workplace shifts. This begins with a recognition that today’s jobseekers are approaching work with a significantly different mindset than the generations preceding them. While some workplaces are staying abreast of these developments, others need a radical overhaul of their talent attraction and retention strategies.
But don’t be deterred by these changes! There are plenty of organizations that are ahead of the curve in implementing best practices in talent management – and there’s nothing stopping your organization from following suit.
Bridging the Gap Between Jobseekers and Employers
Here are some key statistics that provide a snapshot into the monumental shifts happening in the world of work:
- 81% of organizations are facing difficulty finding employees with the correct skill set. 
- 40% of companies are losing talented employees to competitors. 
- 63% of workers who quit in 2021 did so because they did not see any career growth opportunities. 
- Only 30% of employers provide career management services, even though 73% of employees deem these important. 
The story that these exceptional numbers tell is of fundamental changes in how we conceptualize work and professional fulfillment. As job vacancies in Canada soar and unemployment rests at an all-time low, HR professionals can play a vital role in helping employers and job candidates meet their respective needs. This is clearly the need of the hour given that in the past year alone, the Canadian job market has seen recruitment for over one million roles.
Moreover, in less than a decade, 30% of the world’s workforce will be comprised of Gen Z workers. To address their specific needs and to be ready for next-generation talent, it’s imperative that HR and business leaders fully grasp the values that actually resonate with Gen Z and that inform their attitude towards work.
A Future-Ready Approach to Talent
With these upcoming changes in mind, we need practical and effective techniques for building and leading high-performing, diverse and multi-generational teams. A key prerequisite for this is cultivating trust and connections with fellow employees, regardless of their generation. This is essential for fostering not only harmonious working relationships but also for enhancing productivity.
One way to do so is by delving deeper into what research tells us about how to build a future-proof workforce that is inclusive of various experiences and perspectives. Being able to productively implement these research-based concepts will bring together resilient multi-generational teams that will set successful organizations apart in these evolving times.
Another way to prepare your organization for the changes on the horizon is by connecting people to their “why” – their purpose in the world of work. Even though people leaders will agree that purpose is important, it is rarely treated as a business imperative. Yet employees need purpose to feel like their work matters beyond just being a job. It is a sense of purpose that draws skilled talent and keeps them inspired, engaged and fulfilled with their professional contributions. Organizations with clearly defined purpose benefits fare far better in achieving and exceeding business outcomes, much more so than their counterparts that are not purpose-driven.
So how can you get yourself, your teams and your organization ready for what’s coming down the pipeline in terms of talent management?
For starters, you may want to register for the upcoming ‘Talent Across Generations’ virtual micro-conference, happening on April 13. Hear from industry experts as they tackle the impact of the current red-hot labour market on employers and job-seekers. Thought leaders in HR will help us unpack data about the needs of Gen Z workers and how organizations can offer workable solutions for all stakeholders. Attend this half-day micro-conference and equip yourself with the skills and research-based practices needed to propel your company to the top in the eyes of talented workers.
To sum up, now is the time to learn how to effectively manage and lead inter-generational teams that give your organization an edge over others.
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