“The challenge today is not just retaining talented people, but fully
engaging them, capturing their minds and hearts at each stage of their work
lives.” – Beverly Kaye & Sharon Jordan-Evans, Author of ‘Love 'Em or Lose
'Em’
Changing market needs had compelled
business leaders to focus on acquiring, sustaining and engaging talent pool
within the organization. Gone are the days of regular work and cheap labor.
With the radical transformation of career types, the arrival of Gen Y and
greater emphasis on talent planning; the world now has a new workplace where an
employee is the backbone of organizational success.
As per Bersin Market Search Report by Deloitte, “employee engagement has become the top
issue on the minds of business leaders, directing us to an entirely new model
of management.”
Employee/Talent engagement is not
alien today. But, before speaking about changing talent engagement modules and
how it is going to be in 2016, let’s focus on changing talent trend across the
world. Once you are aware of the changing needs of job seekers, framing an
appropriate engagement module gets easier.
7 Talent Trends Transforming the Workplace:
- 50% of the current jobs could disappear in the future leading to reinvention or extinction.
- 95% of Gen Z are constantly online, thus tapping into the talent pipeline early.
- 1 in 2 organizations is stuck in operational HR reporting, thus creating high market demand for the creation plus utilization of an efficient talent analytics technology.
- One-third of the workforce is now Gen Y and it will continue to grow rapidly.
- Talent Planning is a priority task for businesses today.
- One either needs to build a highly engaged talent chain or buy one from external sources as the demand of hiring top talents increases.
- Gender diversity programs and tackling pay gap will remain a prime agenda for the organization.
(Source: Au.hudson.com)
How are These Changing Talent Trends Going to Impact Recruitment
Industry Functions Worldwide?
1. Engagement Will Continue To Be a Top Priority
2015’s Deloitte survey
highlighted that 50% of responding organizations believed culture and
engagement to be ‘Vital’. Talent Engagement is not going to lose its strength
in 2016 as well. In fact, it continues to become a priority for most of the
organizations. Failure to do so will result in companies losing their hold at
one of the most critical areas of workplace achievement.
2. Onboarding Will Need Renovation
Gone are the days of traditional
onboarding techniques. With changing needs, organizations need to create
onboarding programs that are more fluid and engaging. With technology such as
video recruiting coming in and social media hiring gaining its pace, companies
need to throw out slugging hiring processes and replace them with new ideas and
online hiring technology.
3. Millennials Will Continue to Change Business Operations
In 2015, Pew Research Center
declared that millennials
have outnumbered Gen X to grab the largest share of US Workforce. It meant
having a much younger workforce with potential to change company culture and
functions. Major organizations are already adapting to work-life balance and
social connectivity favored by millennials. However, the shift is expected to
become more rapid with time, introducing systems like collaborative management
models in the corporate world.
4. Transparency Will Become Critical
Millennials value trust and open
communication at all levels of management which means continuous feedback,
appreciation, performance evaluation will become a top priority. Transparency
will push anonymous feedback surveys into a conversational exchange between
employees and management, leading to face-to-face interaction and hence open
feedback. Owing to this change most of the global
giants have already started reframing their performance management policies.
(Source: Kontiki.com)
Why Talent Engagement Should Matter For You As an Organization?
Before you start considering talent
engagement a much-rated hype, take a deep look at below mentioned figures:
- 11 Billion US$ is lost annually owing to bad employee turnover.
- Companies with engaged employees have outperformed those without by up to 202%.
- Approximately 71% of the workforce is not completely engaged.
Key Drivers of Employee Engagement:
- Relationship with Direct Managers: Approximately 80% of employees are dissatisfied with their direct managers, hence are highly disengaged.
- Belief in Senior Leadership: Approximately 70% of the employees lack confidence in higher management, hence are highly disengaged.
- Pride in Working for the Company: Approximately 54% of the employees are not proud of the companies they are associated with, hence are highly disengaged.
Final Say on ‘What Can Be Done to Engage Your Current Workforce’ – Tips
for Senior Management
- Must articulate a clear vision to all employees.
- Open communication should be encouraged among employees.
- Managers should be encouraged to foster a healthy relation with their team.
- Management should demonstrate that they value their employees as true contributors providing them a sense of empowerment.
Senior management should demonstrate that their
employees have a direct impact on their work environment.
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