Months into the global health crisis, we’ve learned some valuable lessons. One of the most important is that talent remains one of the most sustainable competitive advantages for companies amidst unprecedented change.
It’s a crucial time to focus on new talent management strategies to drive value and innovation. For Ceridian’s 2021 Pulse of Talent survey, conducted in partnership with Nielsen, we surveyed 5,010 employees in the U.S., Canada, UK, Australia, and New Zealand. We found almost seven in 10 (67%) of the workforce is open to new opportunities. This means a majority of workers in the countries we surveyed are looking for a new job (37%), or would consider a new role if approached (30%).
For employers to retain their top talent and seize the opportunity to attract new stars, it comes down to understanding what today’s employees want and need. The pandemic has created an opportunity for HR leaders to take a fresh look at their talent management strategies. In our 2021 report, we explore six actions for employers as they reshape their talent management strategies in the new workplace reality.
The survey found that overall, employees are satisfied with how their employer responded to the COVID-19 pandemic. For example, 75% of respondents agreed their employer took precautions to ensure employee safety.
What employers do above and beyond their pandemic response will help bolster long-term retention and build on the trust they’ve created during the pandemic. Key to talent management strategies of tomorrow will be creating meaningful and multi-dimensional relationships with employees to maintain trust and affinity that outlasts the pandemic.
Most of this discussion around the pandemic and its impact on the world of work has been centered on the shift to working from home. However, not every wants to, or can, work from home. In fact, 59% of employees in our survey said they would join a company that does not have a work-from-home policy – either because it’s not important to them, or because they work in an industry where its generally not an option.
While working from home has long been seen as a perk synonymous with flexibility, the definition of flexibility needs expanding for this new environment.
Now, employers need to broaden employee experience and talent management strategies to take personal situations and alternative working models into account. Leveraging technology and people data – like employee listening and feedback platforms, advanced analytics, and intelligence tools – can help address employee needs in a targeted, tailored, and dynamic way.
HR leaders will be vital to both the growth of the business and growth of talent, which will require a new kind of oversight and more thoughtful approach to managing this new reality.