Efficient and robust talent management isn’t just good for employees—it helps your business grow. In fact, organizations with effective talent management routinely outperform their competitors. But to do it well, talent management requires a thoughtful and methodical approach.
Here are some of the major trends that recruiting, human resources, managers and executive leadership should consider this year.
Talent management trends
1. Employee education, training and reskilling:
A billion jobs—approximately one-third of the world’s workforce—will be transformed by 2030 thanks to things like automation and AI. Training and reskilling are good for your workers, as well as your business. A LinkedIn survey found companies with better training had a 53% lower attrition rate, which reduces hiring costs and improves productivity. Employees need to learn new skills and businesses need to stay on top of the latest technology, which is why training and reskilling is vital.And many of the same technologies that are transforming the makeup of the workplace can be used for novel training purposes. For example, augmented reality can give employees a better, more realistic experience than a traditional video or book.
2. Diversity, equity and inclusion (DEI)
The power of DEI goes beyond good public relations. By focusing on the qualities and backgrounds that make individuals unique, such as race, age, religion, disabilities and ethnicity, your company can provide a more holistic view and approach to everything from customer service to marketing and problem-solving. That diversity becomes an asset that you can leverage in support of business objectives.DEI is a strategic and financial advantage for businesses and it’s fast becoming a priority for people when choosing where to work. For instance, Glassdoor now has a rating for workers’ satisfaction with DEI. And nearly three-fourths of companies that describe themselves as having world-class talent management programs are focused on gender and global diversity, according to a study from HR consulting company Deloitte.Different perspectives and life experiences can be valuable to your business. Discussions become richer, the decision-making process is better informed, and your company will be stronger because of a diverse makeup. In fact, diverse companies were 33% more likely to outperform their competitors.Start with better communication. Get a pulse on where your company stands and implement DEI measures in recruitment and retention and try to diversify your candidate pool. Send employee surveys, start employee resource groups and hold town halls on the topic.
3. Empathy
Baked into many of the other talent management trends, such as employee experience and celebrating strengths, empathy is an essential ingredient to thoughtful and well-rounded talent management.Align benefits with employees’ values. Embrace flexibility, offer generous leave policies, provide training and growth opportunities and recognize accomplishments. Workers consistently say in-person communication is the most impactful form of communication, so talk to your employees and make connections. Get to know them and encourage their managers to get to know them personally and try to better understand their career goals.
4. Focus on employment strategies for non-traditional occupations
The U.S. has a shortage of truck drivers. In an industry traditionally dominated by men, logistics and trucking companies were leaving out millions of potential drivers who would be attracted to the promise of predictable schedules and good pay—women. By changing that focus in 2010, the number of women truckers skyrocketed nearly 70% from 2010 to 2018 and helped address that shortage.Non-traditional employment is the term for an occupation in which one gender compromises less than 25% of the workforce. For example, male dental hygienists, social workers and early education teachers. Or women heavy equipment operators, carpenters or pilots. People who choose their career paths based on interests and abilities—and not gender stereotypes—are more satisfied and engaged with work. In short, they make better employees and are more likely to stick around. Develop strategies to attract a more gender diverse workforce improves your candidate pool.
5. Employee experience
The employee experience is made up of all the encounters and observations people have throughout their tenure at an organization. It’s essentially how an employee feels about a company. It starts with the first recruitment touchpoint and continues through onboarding and ends with offboarding and exit interviews. It includes everything from personal encounters to physical spaces and workplace culture.HCM software can help you greatly improve the employee experience with initiatives like mapping out professional journeys, improved onboarding and soliciting employee feedback and tracking surveys and reviews. Employee engagement takes the experience a step further and looks at how you can work with employees to align their goals with desired business outcomes.
6. Multigenerational workforce:
You’ve heard of internships, well the latest trend of “returnships” is similar but comes with a twist. Rather than students or recent graduates, the latest addition to the workforce are people who have taken extended time off or previously retired. But before you start thinking of it as charity work, consider that nearly 9 of 10 talent professionals say a multigenerational workforce makes a company more successful. Carefully and intentionally hiring a workforce with a range of experience is a powerful business tool that can strengthen teams.
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