The talent shortage has arrived. In recent research of the Global 2000 by The Conference Board, companies are facing more talent competition than ever in a growingly tight labor market, with US companies increasing their spending in this area by over 7%. With the future workforce looking more diverse, connected, globalized and technologically advanced than ever before, how will recruiting and retaining talent adjust to accommodate future needs of employees and their company?
Aligning current and future talent strategies
The Conference Board research on future skilling your workforce suggests organizations take a holistic approach to recruitment and development to ensure strong connections to the long-term goals of the organization. Strategies for finding talent can draw upon what future skills will be required for the organization; where can talent be found that supports a more global organization, or technically advanced professionals that also hold business skills combined? Hiring practices should now reflect what is both needed for your organization today, and in the future to meet long-term objectives and achieve growth for the organization and employees.
Engaging and developing talent
Engaging and retaining the right talent starts with learner-experience centered programs that impact lasting change. Expect employees to crave for more personalized learning programs, increase in applications introduced, focus on work life balance, and flexibility around maternity leave, pets, and work hours. Your learning program can be tailored to meet these needs of this workforce by identifying ways to accommodate learners’ lifestyles, locations, and career path to nurture employee skillset.
Key skills needed to thrive in the 21st century
To thrive in the 21st century, The Conference Board reports that key factors employees will need are:
- Globalized thinking with a top understanding of business
- Find meaning amongst changing organization processes
- Ability to adjust to diverse situations
- Self directedness to map their own learning.
- Curious, passion-driven, lifelong learner: requires a multidisciplinary set of skills
- Able to extract meaning from their surroundings: requires being self-aware and market-aware, adaptive thinking, and design mindset
- Enterprise-wide and open team worker: requires a social work setting, collaboration, and people who are engaged and able to influence others
- Agile, resilient, adoptive problem-solver: requires effective decision making and the ability to prioritize and execute
- Of a positive growth mindset: requires the ability to frame challenges as opportunities
- Multi-skilled: requires business acumen, and management and technical expertise
Where do you go from here?
Integration of talent processes and alignment of goals for future-skilling are the first steps towards preparing for the future workforce. As business strategies and operations evolve and develop, how can you be forward thinking in your learning programs and talent acquisition?