This year has long been marked as a time when
According to recent
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As this workforce trilemma comes to a head, it will result in more money being spent on hiring and the need to both reprioritize hiring requirements and consider how to best incorporate new technologies to streamline efforts. Companies need to start paying attention now as they develop their talent acquisition strategies to ensure they have the workforce they need to be competitive and continue to innovate.
Luckily, there are several actionable steps people leaders can put into action today to mitigate the effects of a shortfall of workers:
- Hire for skills aptitude — not degrees: The greatest move employers can make is to hire the right talent. In this day-and-age, that means changing hiring practices to focus on hiring for skills versus only using a degree as a proxy for skills. With a shrinking talent pool, and an era of rapid technological change, lean in on hiring talent that can easily adapt, have a desire to learn and are inherently curious about what's coming next.
- Make upskilling part of your company's culture: With the labor market tightening, recruitment alone won't solve your talent gap woes. Instead, it will be vital to establish a culture of learning within your organization — both to help guide potentially displaced workers towards becoming valuable contributors and to improve overall employee engagement and retention.
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- Embrace change — and share how it impacts the bottom line: It will remain vital for employees across most industries to learn how to use AI and other tech advancements to gain efficiencies in their roles. To help spur employees' AI eagerness, make sure to share how it will positively affect both their job and your company's bottom line — which can lend to employees being more engaged and productive. For instance, AI proficient employees will not only help your company stay ahead of the curve, but the technology can also help workers remove some of the repetitive tasks that fill up their day (that they most likely dread).
- Provide the right benefits, not just the "buzzy" ones: To attract and retain top talent, it's important to provide benefits that actually matter to them — not just trendy (and ultimately meaningless) benefits that may be having a moment in the limelight. That means doing a deep dive into employee data to determine what would have the most impact on their lives, both personally and professionally. For instance, the
2024 EdAssist by Bright Horizons EdIndex found that 99% of GenZ workers are interested in learning new skills. So, be that employer — one that supports employees' growth and provides insight on how to utilize those new skills to move into a thriving career.
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In addition to the above, I also recommend taking a deep breath — none of us have all the answers, but we do know that investing in talent means investing in your bottom line. A future-ready workforce needs to be equipped for whatever lies ahead, and the best way to prepare is to ensure you have the right talent — with the right skill sets — that will be up for the challenge.
