22 Jul Global Mobility Talent Pandemic — Real or Not?
Having the right people in place is vital for company growth. As more workers prefer to stay home, it’s essential for global mobility managers to conduct extensive research on how to go about managing talent in the current pandemic as well as how to spot trends in a post-pandemic workplace where a talent pandemic could emerge.
There already have been massive repercussions to talent management in the early phases of the pandemic. With the current wave of delta variant cases affecting businesses, employers and global mobility managers face their own wave of surging talent issues, with businesses experiencing déjà vu as lockdowns and tighter restrictions have been mandated by their local governments.
A SHRM blog identifies some of these issues:
Leaders at the top level, who succeeded in maintaining business operations in the worst circumstances, face the same condition now that the delta variant has swept throughout the globe. It’s no wonder DDI, a global leadership consulting firm, reported that 60% of executive leaders were exhausted at the end of the workday. The workforce is observably taxed and is prone to becoming more unproductive.
Due to the pandemic, businesses ran on less manpower, forcing them to conduct mass terminations to ensure their survival. This means companies depended on top performers who remained with them to fill in the tasks their laid-off peers left them with. Many of these employees are stretched beyond their capacities, perhaps, even felt being used by the company, and not given enough value. Unsurprisingly, talks of a post-pandemic “Mass Resignation” are causing quite a stir among talent managers.
Moreover, a Forbes article adds another talent issue businesses are expecting post-pandemic.
The pandemic has certainly created an exponentially wider talent pool for obvious reasons. While some businesses begin to recover and foresee the economy getting back on track, they’re now in a race for hiring top talent. Lucky businesses that can operate with a predominantly remote workforce have an advantage in this race. So businesses who haven’t planned on crafting work policies that cater to the needs of top candidates might not have a chance of attracting them.
These issues go to show that a different approach to talent management is essential in a post-pandemic era. HR leaders and global mobility representatives must develop new strategies to keep high-performing employees while actively attracting top candidates in demand.
So, what are the best practices for HR leaders and global mobility representatives to anticipate this talent pandemic?
SHRM suggests the following:
Incentivize top performers
Providing incentives for top-performing employees has been an existing strategy for employee retention before the pandemic. But presented with the issues mentioned, retaining exceptional talent is becoming more of a challenge. It helps to customize a customized incentive program to get employees more engaged and motivated.
Hire from the wide talent pool
The race to hire top talent is becoming more competitive as the unemployment rate and payrolls improve. But there are many untapped talents caused by the mass terminations from the previous year and the entry of fresh graduates who qualify for positions. Given the highly competitive arena in search of employment, these candidates can’t afford to be choosy. Businesses can attract talent by providing benefits to less demanding and flexible positions.
Companies might not have anticipated the pandemic resulting in the poor delegation of tasks and responsibilities to specific departments of the business. One department can be short in manpower while another possesses a surplus of workers. A strategy talent managers can look into is cross-training these employees and filling in the gaps; thus, balance tasks dissemination.